Usually amended legislation, codes, guidelines and the like add to the workload trying to get one’s mind around new ways and rules. Not so with the Institute of Directors South Africa’s King IV Report.
Finally there is clarification in black and white on Integrated Reporting, which was introduced in King III. So many South African companies threw out their Sustainability Report in favour of the Integrated Report. This was particularly true for JSE listed companies, who are required to apply the King Codes of Good Practice on Governance as a listing requirement.
While those of us working in the sustainability arena held many and varied discussions around the difference between a Sustainability Report and an Integrated Report, not least of which is audience and level of detail around strategy vs data, our clients haven’t all been easy to convince.
I’ll share with you a screenshot of the two paragraphs that had me clicking my heels:
Seeing a client out after a meeting, I found this angel in our reception area. I couldn’t help but ask, “What are you knitting?”
“Knockers!” she answered with a twinkle in her eye.
Volunteers around the world knit washable prostheses for women who have had mastectomies and can’t afford reconstructive surgery, or who find the silicone alternative too uncomfortable.
Turns out she was waiting for her granddaughter who was attending promoter training at our training academy at Matriarch. What a warm and wonderful women on a mission. Made my day.
Check out www.knittedknockers.co.za
Recently working on a project with the Ethical Trading Initiative (ETI) and the Labour and Enterprise Policy Research Group, University of Cape Town, the matter of creating jobs at any cost vs creating quality jobs was highlighted.
It was with interest that I read yesterday of research conducted by an American Non-Profit Organisation – Pacific Community Ventures – which lead to the following defined criteria of a quality job:
“A quality job provides at least three (3) of the following five (5) key elements:
- A living wage sufficient to support a decent standard of living — or, at minimum, exceeds the median wage offered within the employer’s industry.
- Basic benefits that increase economic security, improve health, and promote work-life balance among workers. These include paid leave, health insurance, and a retirement savings plan.
- Career-building opportunities that help employees develop the skills, networks, and experiences necessary to launch a career or advance along a career path. These opportunities can include training and mentorship — both formal and informal — and avenues for advancement within the company
- Wealth-building opportunities that enable and incentivize an employee to build the assets they need to manage financial emergencies and achieve long-term financial security for themselves and their families
- A fair and engaging workplace that balances the priorities and wellbeing of employees with the needs of the business. Examples include offering flexible and predictable schedules, treating all staff with respect and dignity, actively soliciting employees’ ideas to improve the business, and helping staff understand how their work contributes to the business’s success.”
This seems a far cry from battles over paying the minimum wage, mandated benefits and ensuring freedom of association. Perhaps elevating our expectations toward loftier goals might help to achieve the basics?
As the “march into Africa” becomes a reality for more and more South African companies, the Department of Trade & Industry has published guidelines for Good Business Practice by South African Companies Operating in the Rest of Africa.
The Draft Carbon Tax Bill is out for public comment. Urban Earth provide a concise summary on how the draft bill outlines carbon tax savings of between 60 & 95%.
If you haven’t done so already, now is a good time to measure your carbon footprint and determine your level of risk. We’d be happy to help.
Ok I’m still walking around in one of those dazed, “I just can’t believe it,” states.
Crane and Matten ask 5 key questions to help us begin to consider the shocking news about Volkswagen’s rigging of emissions tests.