Sustainability
Evaluating and managing risk in companies is an increasingly
important role of the board of directors. This has led
Mvelaphanda Group companies to introduce systems which
continuously evaluate their business strategies and processes
in terms of a comprehensive risk management policy. All
Group companies are challenged with developing strategies
to manage and mitigate these risks where possible. Progress
in this regard is monitored and reported on regularly.
Today’s corporate reporting is moving beyond reporting
only on the economic “bottom line” to include reporting
on the environmental and social impacts of business operations.
South
African companies are starting to publish sustainability
reports within the framework of the Global Reporting
Initiative (“GRI”) guidelines, which are scheduled to
be significantly revised in 2006.
Mvelaphanda Group is not currently actively involved
in operating businesses which have responsibility for
the negative impact on the natural environments in which
they operate. These responsibilities are retained by
the clients of the Group’s operating companies.
In the GRI social reporting context, Mvelaphanda Group
is in a position to establish a fresh and winning corporate
culture. This will be developed by involving executive
and senior managers from all Group companies in strategic
planning and training sessions designed to create a common
purpose across the Group, and to develop a corporate
culture geared to all-round success and staff fulfilment.
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