Investecisaninternationalspecialistbankandassetmanagerthatprovidesadiverserangeoffinancial products and services. The company was founded as a leasing company in Johannesburg in 1974 and expanded to serve a select client base in three principal markets, the UK and Europe, South Africa, and Asia/Australia. Today the company has a dual listing in London and Johannesburg and is a FTSE 250 company (the FTSE 250 is an index composed of the 101st to the 350th largest companies listed on the London Stock Exchange in terms of market capitalisation). In the almost 40 years of its existence,thecompanyhasgrownitscapitalfromlessthan1milliontotheexisting5.4billion.From the onset, the founders of the company were committed to building a sustainable business, one that hasbeenabletosurviveandthrivethroughallconditions,growingearningfrom0,16millionin1981 to 491 million at the end of the 2018 financial year. This business is conscious, not only of their duty to clients and shareholders, but also to employees and the broader community they serve. Investec has a deeply rooted tradition of active corporate citizenship which has been widely recognised internationally.

Investec'scorporateresponsibilityphilosophyiscloselyguidedbytheirorganisationalpurpose,which is to create sustained long-term wealth. At the heart of their corporate responsibility is a caring approach to their people. The company provides staff with a safe, healthy, and stimulating work environmenttoensurethattheyaremotivatedandequippedtodeliverexceptionalcustomerservice. Their approach towards corporate social investment is to provide their beneficiaries with a 'handup'

instead of 'hand-out'. As such, they have focused approach that seeks to make a difference through

entrepreneurship and education.

TheaimofCSIprojectsistopromotelifelongskillsdevelopmentthatcancontributetowardsbuilding and growing economies of countries in which they operate. In South Africa, the company has contributed towards transformation through several projects, amongst them the Youth Employment Service (YES) programme. This programme, launched in March2018, aims to find employment for approximately 1200 youth annually. The company also recognises the challenges that climate change presents to the global economy and thus supports activities that either reduce the impact on or prolongs the life of our planet. Investec's commitment towards social responsibility, as well as the achievement and recognition of their efforts, are summarised in the figure on the nextpage.

We care about our PEOPLE	We care about our COMMUNITIES	We care about our ENVIRONMENT
Attracting and developing a strong, diverse, and capable workforce.	Unselfishly contributing to our communities through education and entrepreneurship	Having a positive environmental impact through our operations and business activities
1,9% spend on learning and development as a % of staff costs for Investec plc (2018)	1.2% spend as a %of operating profit for Investec pic (2018)	6,1% reduction in carbonemissionforInvestecpic(2018)
Recognition and Achievements - 2018 Financial Year Voted second mostattractive employer by professionals and fourth by students in South Africa in the2017Universum awards. Investec CEO, Stephen Koseff won theLifetime AchievementAward presented by2018 African bankerawards.	Recognition and Achievements - 2018 Financial Year Winner of the following Business Charity Awards: Community Impact 2017Business of the Year2017 Winner of the NationalCSR Award for Best Community (Legacy) Project2017 Winner of the Bromleyby Bow partner of the year award The South Africa flagship programme, Promaths contributedto 4,8% and5,0% respectively of the	Recognition and Achievements - 2018 Financial Year Trained 195 frontline consultants on environmental, socialand governance practices in South Africa and theUK 88% of energy lendingportfolio relates to clean energy 1200 Children reached through the coaching for Conservation programme since2013 Investec Rhino Lifelinehas supported the rescue of 70 rhino since 2012

	country's total mathematics and science distinctions respectively in the 2017 academic year. Since inception of the programme 12 years ago, Investec has funded over 7 000 previously disadvantaged learners with 84% either having completed, or are in the process of completing, tertiary education. Voted South Africa's eighth most valuablebrand Winner of the Financial Innovation Awards 2017- Innovation in Sustainability or Social Responsibility Award for The Success programme run in partnership with ArrivalEducation	R2,5 million spend on water initiatives to ensure the continuation of business in the Cape Town office during the 2017/18drought The 2 Gresham Street office won the Chairman's Cup in theCorporation of London's Clean City AwardsScheme The Energy Management System that covers 23 offices in the UK, Ireland and Channel Islands was certified ISO50001 The 2 Gresham StreetOffice Environmental Management System is certified to ISO 14001 The coordinator of the Investec Coaching for Conservation kids' programmes at Good Work Foundation won a silver in the Eco-logic Award in the category "Eco-Youth"
Inclusion in world -leading indices (indices that objectively measure the performance of companies that meet global-recognised standards)

Index	2018 Performance	Notes
Carbon Disclosure Project	8	Investec is a member and Investec Asset Management is a signatory investor
Code for Responsible Investing in South Africa	Signatory
Dow Jones Sustainability Investment Index (DJSI) Score out of 100	73	Investec Limited ranked as one of four industry leaders on the DJSI Emerging Markets Index; Investecplcrankedasoneof15 industry leaders on theDJSI

		World and one of nine in the DJSI Europe indices.
ECPI Index	Constitute
FTSE4 Good Index	Included
FTSE/JSE Responsible Investment Index Series	Constitute
MSCI Global Sustainability Index Series- Intangiblevalue assessment rating	AAA
STOXX Global ESG Leaders Indices	Member
United Nations Global Compact	Participant
United Nations Principles for Responsible Investment	Signatory

Investec's business strategies and decisions are driven by their values and the intention to live in society, and not off it. Clients of this company know that they deal with a sustainable, financially resilient business, which is here for the long term.

Source:Investec.2018.AnnualReport2018.Availableathttps://www.investec.com/content/dam/investor- relations/financial-information/group-financial-results/2018/FINAL-Investec-DLC-Vol%201-15-June-2018.pdf [Accessed 10 November2018].

Questions:

2. Analyse how Investec's CSR programme finds expression in itscorporategovernance. (30)