Partnering with you to do good things Old Mutual publishes Positive Futures Plan13/04/2016
View Full Report
Old Mutual’s purpose is to help its customers thrive by enabling them to achieve their lifetime financial goals, while investing their funds in ways which create a positive future for them, their families, their communities and the world at large.
Old Mutual has conducted significant research into the social and environmental challenges facing its markets, particularly across Africa. Following this, Old Mutual has launched the Positive Futures Plan focusing on two areas where it can have the greatest influence on sustainable growth; namely enabling financial wellbeing and responsible investment.
The Plan’s six goals for 2020 include:
- scaling up its financial education programmes to reach 50 million people
- positively influencing 20 million people through micro-finance and micro-insurance products
- investing 10% of its funds under management in the green economy and infrastructure.
Bruce Hemphill, Group Chief Executive says “We remain committed to being proactive in our contribution to society, including the growth of jobs, housing and income. Our Positive Futures Plan unites us in our long-term view of creating positive futures for all.”
Old Mutual’s core responsible business practices will continue: sound environmental management; investment in communities through Old Mutual’s foundations, trusts and supported-employee activities; continued development of its approach to human rights; and disclosing progress through publically available reports such as through PRI and CDP.
Old Mutual launched the Positive Futures Plan in 2015 and since then has:
- Continued to scale up financial education programmes such as On The Money which was delivered to 108,000 participants in South Africa
- Co-founded Blue Marble Microinsurance to provide vulnerable societies with access to insurance – first venture aims to protect African farmers from the impact of adverse weather conditions
- Established new partnership between the charity Opportunity International and Old Mutual’s Faulu Microfinance Bank to increase access to loans and training for Kenya’s low-cost schools
- As custodians of its customers’ money, committed R60.5 billion into renewable energy projects and invested R57 billion into infrastructure projects, supporting the move to low-carbon economies
- Invested £16.7 million in communities focusing on financial wellbeing.
Going forward Old Mutual will continue to:
- Embed common environmental, social and governance (ESG) principles into investment and ownership decision making
- Work with stakeholders on how best to use the industry’s emerging system of fund ratings for responsible investment
- Align the Plan with the Sustainable Development Goals (SDGs) and demonstrate commitment to the aims of the SDGs
- Establish new partnerships and scale up existing partnerships to help deliver the Plan’s goals.
About the company
Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, Asia, the Americas and Europe. Founded in South Africa 171 years ago, Old Mutual’s long-term vision has been to be its customers’ most trusted partner – passionate about helping them achieve their lifetime financial goals.
Read how Old Mutual adds value to Africa at www.oldmutual.com/reportingcentre
For more information, visit: www.oldmutual.com/rb
Old Mutual Media Relations
View Full Report