SUSTAINABILITY STRATEGY & GOVERNANCE
GROUP STRATEGIC APPROACH
Sustainability continues to be firmly embedded into the Group’s corporate strategy. We recognise that sustainability is a significant driver to how we manage operational risk and drive the strategic positioning of the Group for long-term business success.
By integrating sustainability in our operational decision making and business strategy, we are able to identify potential risks and opportunities. Our sustainability strategy is to ensure that we minimize negative impacts and related costs on the business and on our stakeholders particularly those related to the environment and society through ensuring that there is good balance with economic success.
Our sustainability strategy is implemented by adhering to international best practices and standards held by Group companies which includes ISO9001, ISO17025 and ISO22000 to manage environmental and social issues in some of the Group companies. In addition, the Group places great emphasis on compliance with local laws, regulations and requirements in the places we operate. Furthermore, the Group keeps track of protocols and commitments adopted or signed by government which have a bearing on business sustainability such as the Sustainable Development Goals (SDGs) and Climate Change.
Our sustainability management is structured into two levels, starting at the company level all the way to the Group. We have sustainability teams set up in our companies, tasked with identification, evaluation and assisting in managing our sustainability impacts on economic, environmental and social issues. In addition, the teams are responsible for monitoring and evaluating systems from which data is collected to ensure quality and reliability.
INCLUSIVITY AND RESPONSIVENESS
We continue to integrate stakeholder engagement in the overall corporate and risk management strategy of our businesses. Our approach in achieving sustainable business success driven by ensuring sustainable relations with all our stakeholders as business partners are maintained. Maintaining sustainable stakeholder relationships based on shared values of honesty, inclusivity and responsiveness contribute to trust and strong relational capital for the Group. Our stakeholder engagement strategy is a responsibility that is shared among all employees and management and is embedded in how we interface with our stakeholders in our day-to-day activities.
Our corporate strategy is to maintain a sustainable supply chain which thrives on shared values. Supply chain management is a critical component in our business value chain and sustains our brand name and image. Therefore, we provide systems which ensure that all suppliers are screened on their track record and consideration of sustainability issues such as environmental, social, behaviour, corruption, statutory compliance and human rights practices. We try by all means to ensure that most of our suppliers share our common values for sustainability in our value chain. Irvine’s Zimbabwe (Private) Limited, Colcom Division, Profeeds (Private) Limited, Probrands (Private) Limited, Associated Meat Packers (Private) Limited and National Foods Holdings provide opportunities for disadvantaged groups, small scale farmers, youths and the less privileged to be part of our supply chain through their contribution to economic empowerment of our society and sustainable development in the places of operation. Appropriate training and support is provided to ensure quality standards are met.
EXTERNAL AND INDEPENDENT ASSURANCE OF DATA
The information in our report has been prepared with external oversight and guidance of the Institute of Sustainability Africa for compliance with the GRI Standards, whilst the Group’s internal audit function, Instinct Risk Advisory Services, provided independent verification of the data in respect to environmental and social impacts. The Group’s annual consolidated inflation-adjusted financial statements presented on page 96 to 190 have been audited by Ernst and Young Chartered Accountants (Zimbabwe).
SUSTAINABLE CAPITAL MANAGEMENT
We recognise that it is critical to apply integrated thinking in the manner in which we manage the capitals of our business. We consider natural, human, intellectual, financial, manufacturing and social relations as capital input into our business model. Therefore, sustainable management of this capital remains a critical aspect of our business strategy formulation and execution, for creating and sustaining business value for our shareholders and stakeholders in the short and long term.