Old Mutual Zimbabwe commits to green energy investments

Staff Writer

Old Mutual Zimbabwe has reaffirmed its commitment to sustainability, with a focus on financing green and renewable energy projects.

The diversified financial services group said it is also proactively supporting innovative businesses working to reduce greenhouse gas emissions and carbon footprints.

The group’s strategic focus aligns with the growing global emphasis on sustainability and climate action.

During the half year to June 30, 2024, the Securities and Exchange Commission approved the registration of a US$100 million Renewable Energy Fund, managed by the Old Mutual Investment Group.

“At Old Mutual Zimbabwe Limited, we are committed to sustainable practices across various aspects of our business operations. We are actively implementing a sustainability framework to integrate sustainability principles and objectives into our strategy and day to day operations,” Old Mutual Zimbabwe’s chairman Kumbirayi Katsande said in the group’s financials for the half year.

He said key outcomes of the process include identifying material sustainability issues through a materiality assessment, recognising sustainability risks and opportunities, and adopting management actions to address these outcomes.

“We are also dedicated to complying with relevant sustainability laws and regulations,” he said.

During the period under review, Old Mutual issued its sustainability report for the period ended December 31, 2023.

The report was prepared following the Companies and Other Business Entities Act, Statutory Instrument 134 of 2019 – Securities and Exchange [Zimbabwe Stock Exchange Listing Requirements] Rules, the Global Reporting Initiative Standards, and the United Nations Sustainable Development Goals (SDGs).

The report includes an overview of the group’s strategy, sustainability priorities, and disclosures related to responsible investments, environmental impact, social initiatives, and governance matters.

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