We’re a responsible participant in financial markets and our communities
At Prudential, we define corporate responsibility as the way our company behaves and how we manage our impact on society and the environment. We believe it’s important to be a responsible participant in financial markets, maintaining high standards of corporate governance, ethics and appropriate disclosure with a broader goal of instilling and growing trust in the country’s financial systems. Transformation also plays a major role. Here are some of the ways we meet our responsibilities:
- Investing in our people;
- Investing in our communities;
- Managing our environmental impact;
- Maintaining effective health and safety management systems;
- Choosing BEE-accredited suppliers for preferential procurement;
- Advancing broad-based BEE participation;
- Advancing stable, reliable and transparent financial services in South Africa to promote trust; and
- Supporting corporate social investment projects focused on education.
Corporate social investment
Corporate social investment (CSI) is an important part of our corporate responsibility, and is overseen by our Transformation, Social and Ethics Committee (SET), which is a formal sub-committee of our Board.
Our key CSI focus is on education, at both the foundational and tertiary phases. We aim to help develop human talent, realise individual potential and transfer practical skills to those young people most in need, while helping increase the number of previously disadvantaged people actively participating in the SA economy.
We also provide financial support for CSI projects in which Prudential's staff, shareholders and clients are directly involved.
As part of our long-term commitment to our current CSI beneficiaries, we have closed external applications for the remainder of 2019/2020. Applications for 2021 will reopen from 1 September 2020 – 31 October 2020.
Our flagship project is The South African Education and Environment Project (SAEP), a non-profit organisation based in Cape Town. Our partnership with SAEP extends to assisting three informal day-care centres in the Philippi Township with receiving the necessity infrastructure to become legally registered ECD centres; and to provide the principals and staff of these centres with training on how to promote a safe and stimulating learning environment for the children entrusted to their care.
The Life Matters Foundation (LMF) is a non-profit organisation that provides academic and psycho-social support to underprivileged primary school learners in the Steenberg and Vrygrond areas. LMF’s programmes are geared to help children cope with the increasing academic demands and the negative influences of the impoverished communities in which they live. To assist LMF in this undertaking, we currently sponsor two learning centres: a Literacy and a Numeracy Centre.
Fun Learning for Youth (FLY)is a non-profit organisation that provides maths and life-skills tutoring to high school learners from disadvantaged communities in Cape Town and Johannesburg. Our partnership with FLY involves: supporting their maths tuition and life skills program in Khayelitsha, Langa and Gugulethu; providing university bursaries for learners wanting to study finance and investment related degrees; and mentoring bursary recipients and offering them work experience at Prudential during university holidays.