Nimbus Direct Insurance Business Plan › Section 13 › ESG, Social Impact & Transformation

13.1 ESG Framework

Nimbus has adopted an ESG framework aligned with the IFRS
Sustainability Disclosure Standards (ISSB), the United Nations
Principles for Sustainable Insurance (UN PSI), and the Sanlam ESG
Barometer principles which have become a useful South African industry
benchmark. ESG is integrated into governance, risk, and operating
processes rather than treated as a separate disclosure exercise.

13.2 Environmental Commitments

• Operational carbon — net zero Scope 1 and Scope
  2 emissions by 2028; offices powered by renewable-energy power purchase
  agreements; vehicle fleet hybridised by 2027.
• Underwriting climate strategy — formal
  climate-risk underwriting policy reflecting flood, hailstorm, and
  wildfire exposure; gradual reduction of underwriting exposure to
  thermal-coal value chain by 2030.
• Climate disclosure — Task Force on
  Climate-related Financial Disclosures (TCFD)-aligned disclosure from
  Year 3.

13.3 Social Impact

• Insurance inclusion — Year 5 microinsurance
  launch in Botswana targets 100,000 first-time insurance policyholders;
  equivalent SA product line planned for Year 5+ pending Insurance Act
  microinsurance regulation finalisation.
• SME enablement — targeted growth of SME cover
  from Year 2 supports formal-economy participation by small enterprises,
  with simplified policies designed for non-broker distribution.
• Affordability — pricing precision lowers the
  cost burden on better-than-average risks within each segment.
• Skills development — actuarial graduate
  programme (8 graduates per annum from Year 2); technology learnership
  programme aligned to the Information Technology Sector Education and
  Training Authority.

13.4 Governance & Transformation

• B-BBEE Rating — target Level 4 by Year 3, Level
  2 by Year 5, via meaningful black ownership, management control, skills
  development, supplier development, and enterprise development.
• Board composition — minimum 40% female
  representation and minimum 50% black representation across the Board by
  Year 3.
• Ethics — annual mandatory ethics training;
  whistleblower line operated by an independent third party; zero
  tolerance on bribery and corruption with FCPA-equivalent
  policy.

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