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Process
Titre degradé
Process

Paragraphe

BANK OF AFRICA's social and environmental responsibility strategy, which is consistent with the United Nations’ 17 Sustainable Development Goals, resulted from a collective process in 2018 involving all stakeholders, including the Group's 14,825 employees across 32 countries. The fact that all stakeholders are committed to a common set of collectivelyagreed principles gives meaning to each of the Group’s initiatives.

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    OUTLOOK

    At its meeting of 16 June 2023, the Board of Directors approved a proposal to revamp the Group's Social Responsibility Charter. This update reflects the Group’s new organisational structure adopted in 2021, goals and tasks embodied in ‘Vision 2030’, its corporate strategic plan adopted in 2022 and changes in benchmark standards and best practices.

    The new CSR Charter was drawn up based on a methodical appraisal of the way in which the Bank's undertakings are implemented and on an updated materiality mapping and weighting attributed to the risk factors and opportunities underlying the reference framework for the Bank’s social, societal, environmental, ethical and governance responsibilities. These aspects will be reported on in the 2023 annual report.

    LISTENING TO STAKEHOLDERS, A MEASURE FOR MONITORING NON-FINANCIAL RISKS

    Prior to drawing up its CSR roadmap and to determine its priority issues, BANK OF AFRICA consulted its internal and external stakeholders, as well as drawing inspiration from international CSR frameworks such as ISO 26000, the United Nations’ Sustainable Development Goals (SGDs), Principles for Responsible Banking and Principles for Responsible Investment.

    This collective approach to determining the Group's social, societal and environmental undertakings enables the Bank to identify priority issues while taking into account how important the latter are to the Group’s different stakeholders and their potential impact on BANK OF AFRICA's medium and long-term business model.

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    Materiality analysis of these issues enables the Bank to methodically identify how internal and external stakeholders perceive risk and opportunity factors for the Group from an environmental, social, societal and ethical perspective and in relation to supply chain management and representative networks. Such an approach, which is consistent with best international standards and with BAM and AMMC directives, enables the Bank to attribute a weighting to the said ESG factors in terms of their sensitivity, normative power and potential impact for both the Bank and its environmental, internal social, societal and market ecosystem. A dual materiality approach enables the Bank to extend its analysis of CSR risks and opportunities to the entire value chain for environmental, social and societal matters.

    The results of this analysis are summarised in BANK OF AFRICA’s materiality matrix, which is regularly updated to take into account ongoing changes and stakeholder diversity.

    Furthermore, by adopting a Positive Impact Portfolio Analysis approach, BANK OF AFRICA, as a financial institution, manages its loan portfolio in such a way as to optimise positive impacts and mitigate potentially negative impacts.