The Social and Ethics Committee assists the Board in providing effective ethical leadership by monitoring the Group’s performance as a good corporate citizen to ensure accountability from a financial perspective and in terms of the Group’s social and environmental impact.
The Committee is constituted in terms of the requirements of the Companies Act and comprises the following members:
- H Adams (Chairperson)
- Dr NV Maharaj (LID)
- A Abercrombie
- AE Keet
The Committee’s role and responsibilities derive from the Act, as well as King III, and it functions in terms of a Committee charter which is reviewed annually by the Board.
The Committee gives effect to its mandate by means of monitoring the sustainable development practices of the Group and its standing in relation to the following matters:
- Social and economic development with reference to the United Nations Global Compact Principles, the recommendations of the organisation for Economic Co-operation and Development (OECD) regarding corruption and the South African Employment Equity and Broad-Based Black Economic Empowerment Acts.
- Good corporate citizenship and corporate governance practices, as well as the Group’s approach to promoting equality, preventing unfair discrimination and reducing corruption, the Group’s contribution to the development of communities in which it operates or markets its goods and the Group’s record of sponsorships, donations and charitable giving.
- The environment, health and public safety and the impact of the Company’s activities and its products or services on the environment, health and public safety.
- Stakeholder engagement and the Group’s advertising, public relations and compliance with consumer protection laws.
- Employment practices and the Group’s contribution toward the educational development of its employees.
In addition to its monitoring responsibilities, the Committee also has reporting obligations and fulfils these by drawing matters that pose a material risk to the Group to the attention of the Board and reporting to shareholders annually on the matters within the scope of its responsibilities.
This report, together with the Group’s Sustainability Overview here, endeavour to fulfil the Committee’s reporting obligations to shareholders.
The Committee believes that the Group’s performance during the year under review has been of an acceptable standard and is satisfied that there have been no instances of material non-compliance with legislation and regulation, or non-adherence with codes of best practice, in relation to the areas within the Committee’s mandate.
Chairperson of the Social and Ethics Committee