Organisations all around the world are being challenged to improve governance, transparency, and contribute more substantially to the societies of which they are part.
Most organisations are paying increasing attention to the elements of the Triple Bottom Line – (Financial, Social and Environmental).
Globally communities are becoming more and more demanding of organisations for a more balanced response to the needs of all stakeholders. Yet very few accord all three pillars the same importance and their incorporation into the overall strategy and life of the business.
In South Africa, good governance mandates that all companies produce an ‘integrated report’ that records how the company has impacted on the social and economic life of the community. Companies listed on the Johannesburg Stock Exchange (JSE) are required to produce such a report. As this requirement now falls within the listing requirements of the JSE, listed companies must produce a sustainability performance report in addition to their annual financial statements.
Key questions to ask yourself:
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