in the 2007 united nations environment programme finance initiative:african task force report,the investigators determined that of the south african banks surveyed ,regarding inclusion of environmental,social and governance principles (ESG) in credit risk assessment :
- three banks had just begun incorporating ESG principles into risk assessments.
- four banks were formalising it as part of the banks ' entire operation.
-three banks were displaying elements of best practice.
thus, the financial framework necessary for the broader business community in south africa to embrace CSR is growing steadily, being supported ably by one of the drivers of CSR,the financial institutions.