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Firms buy into corporate social responsibility
by Frank Nxumalo. Sunday Independent Business Report 30/5/03. Republished courtesy of Independent Newspapers (Pty) Ltd
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Major South African companies in mining, energy, chemical, water and food industries had indicated to the Global Reporting Initiative (GRI) that they had either already used or intending using GRI guidelines to create their own sustainability reports, the African Institute of Corporate Citizenship (AICC) said yesterday (29 May 2003).
Among the companies to do so are Barloworld, British American Tobacco South Africa, Eskom, Mondi Paper, Pretoria Portland Cement, SASOL, SAB-Miller, Umgeni Water, AngloGold and GoldFields.
The GRI is the Amsterdam-based Secretariat of a high-profile international initiative aimed at promoting corporate social responsibility, transparency and triple-bottom-line accounting by companies through sustainability reporting. The AICC is the South African chapter of the GRI.
Paul Kapelus, the Director of AICC, said GRI was working closely with the JSE Securities Exchange regarding its planned Sustainability Reporting Index. "GRI has received confirmation from the JSE that both the GRI guidelines and the GRI HIV/AIDS resource document will be used as a basis for developing the reports," Kapelus said. "The JSE initiative will be targeting the top 160 companies to report on their sustainability performance, including their HIV/AIDS performance."
Kapelus and Randall Howard, the General Secretary of the SA Transport and Allied Workers' Union, have been appointed to represent South Africa on the Global Stakeholder Council. This is a governing council of the GRI that debates stakeholder views and takes them to the GRI Board. The Council appoints part of the Board.
Mervyn King, the Chairman of the King Commission on Corporate Governance, said the GRI's increasing collaboration with South Africa would make a lasting contribution to corporate social responsibiity, would help promote stronger capital markets, and would meet sustainable development challenges that lay ahead.
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