The annual report covers the activities of the Barloworld group, including all subsidiaries for the financial year ended 30 September 2012, and follows the report published in December 2011.
In addition to International Financial Reporting Standards (IFRS), and the King Report on Corporate Governance for South Africa (King III), Barloworld uses the Global Reporting Initiative’s Sustainability Reporting Guidelines (GRI 3.1) and the Greenhouse Gas (GHG) Protocol (corporate standard) as frameworks for reporting, in conjunction with the discussion paper released by the Integrated Reporting Committee (IRC) of South Africa, as well as the international perspective in this regard. Where relevant, the outcomes of stakeholder engagement processes are used as reference points.
The consolidated data incorporates the company and all entities controlled by Barloworld as a single economic entity. Associates and joint ventures are equity accounted. Boundaries for non-financial data collection are consistent with our financial reporting, thus aligning financial, environmental and social reporting. Comparable performance data and information are provided on all material aspects of the group and its value-creation activities without specific limitations. Where required, historical data are restated and explained.
In addition to statutory and King III requirements, Barloworld reports on aspects of the group’s activities that are of interest or concern to a broad grouping of stakeholders and which provide a balanced and reasonable perspective of its activities. These aspects are integrated into the ongoing management of our business and reported to stakeholders annually.
This integrated report covers the material economic, social and environmental aspects of the group, and their consequences for stakeholders in the review period. It addresses the governance context within which the group operates, its risks and strategic framework for creating value.
Our progress to date is augmented by a forward-looking perspective on goals and value-creation strategies. This integrated presentation reflects operational responsibility and accountability for sustainable value creation and underscores the interdependence of Barloworld’s stakeholders.