As we celebrate World Environment Day on 5th June, it’s clear that environmental action has to accelerate significantly if we are to preserve our planetary ecosystem. Nedbank firmly believes that a sustainable and effective programme of environmental action needs a solid grassroots foundation based on value creation and profitability.
“For the green revolution truly to take hold, it needs be driven by the entrepreneurial flair that South Africans have in such abundance—business is the engine of growth and therefore what we need to create urgently is an ecosystem of green businesses to turn environmental action from a moral good into ‘business as usual’,” says Poovi Pillay, Executive Head for Nedbank Foundation. “If we achieve this, we will create not only a new breed of businesses that play a positive environmental role, but we will also drive community upliftment and genuine economic transformation.”
Based on this thinking, late in 2021 Nedbank developed an innovative Green Economy CSI Strategy aimed at creating an ecosystem of partners to generate sustainable economic growth and empower rural and semi-urban communities.
The Nedbank and Indalo entrepreneurship programme play a key role in this strategy. It is the brainchild of Indalo Inclusive, an established non-profit organisation dedicated to accelerating the creation of high-impact and inclusive enterprises that drive financial sustainability alongside social and environmental change. The programme offers both financial and technical expertise to community-based businesses that have a high potential for creating work while positively impacting the environment.
Already, the first cohort of Indalovators has reached the Grow phase of the entrepreneurship programme, during which they will be assisted in refining their business models and establishing how to generate consistent income.
Located in Johannesburg, Kanyisa Mawethu Foundation creates backpacks out of recycled water-resistant material. The backpacks, which include a solar light, raincoat, reflector tapes, a removable sanitary pocket and water bottle pocket, aim to equip disadvantaged children to excel at school.
Jeslu Puro Water provides high-quality water via a two-stage, eco-friendly process, as well as hyrdrological consulting in Giyani. Clean, affordable water is provided to local schools and communities, and water bottled in glass is sold to establishments catering to tourists.
Also based in Limpopo, Bomunu Farms breeds pigs and indigenous chickens using clean energy produced from biogas derived from pig waste. It also upskills special needs schoolchildren and aspirant farmers.
Greenway Africa has developed GreenGrid, an app that can help informal waste pickers increase their profit by 200%+ and the amount recovered by each picker by 40%+. Women make up half of the waste-picker workforce, which plays a key role in the nascent circular economy.
Swikoxeni (Pty) Ltd offers environmental education in schools. And through the entrepreneurship programme the enterprise has built storage to preserve the quality of the waste items that are intended to create a source of income. These products include items such as paper and waste bins made from old drums. The bins are placed in high waste volume areas such as schools, municipal offices and other offices in the greater community areas.
Finally, Euphrosyne manufactures bulk lumpwood charcoal out of alien invader plants and supplies it to a range of companies in the downstream value chain. It provides business opportunities for the youth and also runs educational programmes on biodiversity and ecological rehabilitation.
“These entrepreneurs are harbingers of the real green revolution that will ignite economic growth and upliftment while radically changing the way business uses the environment. Natural capital is one of the six capitals that all organisations use in order to generate value, and, as an experienced money expert, Nedbank is proud of its role in helping a new generation of entrepreneurs bring financial and natural capital into a fruitful partnership,” Poovi concludes.
The six capitals are made up of manufacture, intellectual, human, social, relationship, and natural capitals. Each of these capitals plays a role in how business creates value for its shareholders and the broader stakeholder community.
