Socioeconomic Compliance: 419-1

  • Management Approach

    Entrenched in our group Code of Ethics is the requirement to ‘Obey the law’ and ‘Protect the environment’.

    Also included in our Code of Conduct are values of:

    Sustainability, which includes:

    ‘ …We are proactive members of our communities

    As individuals and as a company, we contribute significant time and resources to promoting the education, health, welfare and economic stability of the communities in which we operate. We encourage all employees to participate in community activities that promote the common good. We believe that our success should also contribute to the quality of life in, and the prosperity and sustainability of, communities where we work and live. …’

    Teamwork, which includes:

    ‘…We conduct business worldwide with consistent global standards

    As a global company, we understand there are many differing economic and political philosophies and forms of government throughout the world. We acknowledge the wide diversity that exists among the social customs and cultural traditions in the countries in which we operate. We respect such differences and, to the extent that we can do so in keeping with the principles of our Code of Conduct, and relevant national and international legislation, we will maintain the flexibility to adapt our business practices to them. We will leverage our global experience to achieve the best results for the enterprise. …’

    This is regarded as the minimum requirement and the group strives to conduct its operations as a responsible corporate citizen.

  • 419-1: Non-compliance with laws and regulations in the social and economic area

    The reporting organization shall report the following information:
    a. Significant fines and non-monetary sanctions for non-compliance with laws and/or regulations in the social and economic area in terms of:
    i. total monetary value of significant fines;
    ii. total number of non-monetary sanctions;
    iii. cases brought through dispute resolution mechanisms.
    b. If the organization has not identified any non-compliance with laws and/or regulations, a brief statement of this fact is sufficient.
    c. The context against which significant fines and non-monetary sanctions were incurred.

    The group is committed to complying with relevant laws and regulations.

    The company can be contacted should there be further enquiries in this regard.