SUSTAINABILITY STRATEGY & GOVERNANCE
GROUP STRATEGIC APPROACH
Sustainability is being firmly embedded into the Group’s corporate strategy and organisation. 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. Group Strategic Approach Our sustainability strategy is executed through implementing Global Reporting Initiatives (GRI) Standards which requires us to identify, measure and manage our material impacts wherever they are happening in the Group and within our control. We do this, by engaging with our stakeholders, which assists us in identifying potential issues and how to respond to them. Such information forms the basis for identifying performance indicators for reporting.
Since 2016, we have aligned our sustainability performance indicators with Sustainable Development Goals (SDGs) which the Group contributed towards. In 2018, we continue to monitor our business impacts on climate change using Carbon Disclosure Standards (CDS) issued by the Carbon Disclosures Standards Board (CDSB) to track our carbon footprint. We continue to be driven by the spirit of inclusivity, responsiveness and accountability in the way we operate. In line with our commitment in 2017, this report is prepared in accordance with the new GRI Standards.
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 is achieving sustainable business success driven by sustainable relations with all our stakeholders as business partners.
Maintaining sustainable stakeholder relationships based on shared values of honest, 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 embedded in how we interface with our stakeholder 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 Holdings (Private) Limited, 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 trainings and support are provided to ensure quality and standards are met.
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 these capitals 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.
EXTERNAL AND INDEPENDENT ASSURANCE OF DATA
In providing assurance to our stakeholders and readers of our report, our approach is to ensure that information contained in our annual reports is independently assured. In this case, this report was prepared with external oversight of the Institute for Sustainability Africa for compliance with GRI Standards while data on environmental and social performance indicators was assured by Instinct Advisory Services; an internal audit service company in which the Group is in partnership. Financial information contained in this report was assured by our independent external auditors, Ernst and Young Chartered Accountants (Zimbabwe) in the audit of financial statements and accompanying information.