Frequently asked questions
Select one of the questions below to see our frequently asked questions.
Is there an Old Mutual Responsible Business Policy?
We have developed a Responsible Business Policy, which outlines the required minimum standards expected of each business division as a member of Old Mutual in terms of their relationship with customers, investment, employees, community, the environment and suppliers. Within the policy, our Responsible Investment Standard can be found. The policy sits alongside Our Code of Business Conduct and Ethics which is also applicable across all our businesses and covers employee wellbeing and human rights. Each business is required to take the high level policy and implement a local level programme focused on their specific issues and appropriate actions they can take. Oversight for the policy is carried out by the Communications, Brand and Stakeholder Forum, and compliance to the policy is tracked twice a year through the letter of representation process, where each business CEO is required to sign off on their level of compliance to the Old Mutual Policy Suite.
What percentage of employees is covered by the Responsible Business Policy?
The Responsible Business policy The Responsible Business Policy is adopted by all wholly owned businesses and therefore all employees are required to adhere to the Policy.
What is Old Mutual's governance process for Responsible Business?
As part of the managed separation process the structure of Board and Executive committees was reviewed and where possible simplified.
The Communication, Brand and Stakeholder Forum which is tasked by the Board and Executive to managed reputation whilst we undertake the managed separation has oversight for all responsible business matters. The Executive Committee and Board receive regular updates on both the plc responsible business matters and how the businesses are progressing on embedding the principles of the Positive Futures Plan into their strategies.
How does the Group measure its Responsible Business performance and is it externally verified?
The Old Mutual plc is listed on the FTSE4Good Index and the JSE SRI Index. These are the two main external measures used to track performance and highlight areas for development. At the beginning of 2011, we set ourselves the ambitious target of reducing our carbon emissions by 20% by 2020. In addition, in 2015 we set ourselves ambitious targets as part of our Positive Futures Plan. We are now working with the businesses to identify the targets and goals material to them so that following managed separation they have clear targets and KPIs in place.
Does Old Mutual produce a Responsible Business report?
Old Mutual plc has produced a standalone report since 2010. Our 2016 Positive Futures Plan not only reports on our progress to date but discusses how each business will be embedding RB into their local plans post managed separation.
Our responsible business pages on the website hold some information about our activities as do the business websites where you can find more about how they will operate post managed separation:
What is Old Mutual's approach to Responsible Investing?
We recognise that the environmental, social and governance (ESG) practices of the companies we invest in can potentially impact the value of those investments over the long-term. As a result, we aim to systematically incorporate our understanding of these issues into our assessment of financial return so that potential risks and opportunities are managed. In 2012, we became a signatory to the UN-supported Principles for Responsible Investment (UN PRI) as an asset owner, and continued our involvement in the implementation of the Code for Responsible Investing in South Africa (CRISA) through our participation in the CRISA committee.
In 2012, a Responsible Investment Standard was developed, which supports our Responsible Business Policy and is applicable to direct and indirect investment practices across our businesses.
As part of the managed separation each independent business in reviewing their approach to RI and they have confirmed that they will take on PRI membership locally. To find out more about the businesses approach to RI please see their underlying websites:
Is Old Mutual tracking and reducing its carbon footprint?
We are committed to monitoring and managing our carbon footprint and have a target to reduce our carbon emissions by 20% by 2020* (from a 2010 baseline). We have been a signatory to the Carbon Disclosure Project (CDP) since 2006.
* emissions/per employee from a 2010 baseline. The target for Old Mutual's property portfolios will be measured in emissions/m2
How does Old Mutual ensure that, wherever it operates, the human rights of employees are respected?
We are committed to observing proper practices in the area of human rights and became a signatory to the UNGC (United Nations Global Compact) during 2008. The UNGC is a framework of ten universally accepted principles in the areas of human rights, labour, the environment and the prevention of corruption. We support these principles and endeavour to implement them throughout all our business activities.
Our governance standards apply across our businesses, no matter what country our employees are in. We meet all legislative requirements placed upon us and work with all our employees to set up systems and processes that address any local issues. A formal process is in place by which employees can raise any concerns they might have and, should they not want to make use of this process, an anonymous external route is also available to them.
We recognise that we work in some countries that may be considered risk areas, for example Zimbabwe and Colombia. These businesses have been operational for many years and have well-established processes. We have many customers and employees in these countries and continue to support them.
The Modern Slavery Act (2015) was a reaction to increasing concern about slavery in the UK and worldwide. Its intention is to encourage the progressive adoption by companies, of policies and practices that reduce the risk of slavery. The Act places a new duty on larger businesses (commercial organisations which carry on a business, or part of a business, in the UK and with minimum annual turnovers above £36m) to publicly report steps they have taken to ensure their operations and supply chains are human trafficking and slavery free. In light of our managed separation strategy we have focused the statement and our activities on our UK business, Old Mutual Wealth. View the Old Mutual Modern Slavery Act Statement
Has Old Mutual built environmental, social and governance (ESG) requirements and measurements into its procurement processes?
The Code of Business Conduct and Ethics and Responsible Business Policy include statements regarding procurement and interaction with suppliers. Although procurement is not a centralised process within the Old Mutual, each business has their own specific procurement policies which integrate Responsible Business practices. In addition to this, many businesses have built ESG issues into their processes and we are working with those who have not yet done so to develop their existing policies. In South Africa, black economic empowerment and the Financial Sector Charter requirements are built into the procurement process.
How much do you spend on community investment?
We support a wide range of community projects across the world - investing primarily in financial education, skills and enterprise development and local communities. In 2016, we invested £15.2m in the communities in which we operate.View more information on our community investment projects
Who do I approach with a sponsorship request?
Sponsorship within Old Mutual is managed on a business basis. Please see our Sponsorships page for more information.
Who do I approach with a request for charity support?
Across Old Mutual, charitable giving is managed on a local level. Other businesses donate from their individual budgets and all give to locally run projects. Please address your opportunities for support to your local business and they will consider the proposal and decide whether it is in line with Foundation or business guidelines. Contact details for Responsible Business Teams in each business can be found on our Responsible Business Contact page.
Who do I contact if I have a question related to the social and environmental performance of Old Mutual?
Who should I approach with a business idea?
Please address your opportunities for business ideas to your local business, and they will consider your proposal.