Broad-based black economic empowerment (B-BBEE)
The government of South Africa’s Broad-based black economic empowerment (B-BBEE) is critical in creating sustainable business in South Africa, particularly in the sphere of public / private partnerships. It is also a fundamental part of our philosophy and business strategy at BNP Paribas.
We are committed to implementing a sustainable programme that meets our objectives as a business and contributes to the economic and social development of South Africa, thereby ensuring future stability, growth and profitability for the country. We seek to embrace our empowerment strategy, and together with our employees, we are engaged and committed to create a sustainable work environment, demonstrating the bank’s responsible corporate citizenship, through the seven B-BBEEE categories.
Across all our entities, we strive towards meeting our B-BBEE objectives through transformation efforts. Among the seven B-BBEE categories, we are already active in skills development, preferential procurement, management and employment equity, enterprise development and socio-economic development, to enhance long term sustainability in the local communities, and are exploring ways of working toward improving our ownership ratings, where possible.
BNP Paribas, a responsible economic player
For the Group, being a responsible bank means living up to its economic responsibilities and working to finance projects for its clients.
In addition, BNP Paribas recognises that it has responsibilities in three other areas:
This means treating the Group’s more than 198,816 employees in a fair and loyal manner and engaging in serious and meaningful dialogue with staff union representatives.
This means helping to combat social exclusion and promoting education and culture. The Group has a strong stake in society, through initiatives and projects which take its banking role one step further for the good of society: special assistance for underprivileged neighbourhoods and marginalised areas, microcredit, support for charitable organisations and social economy enterprises. Our civic engagement is also manifested in the corporate philanthropy work done by the BNP Paribas Foundation, whose charity initiatives include educational, cultural and public health projects.
BNP Paribas pays particular attention to the environmental impact resulting from its banking activities all over the world. The Group has drawn up and implemented detailed policies relating both to its day-to-day functioning and to sensitive fields of industry, and supports environmental initiatives through the BNP Paribas Foundation.