Sustainability (encompassing social, environmental and economic issues) is managed centrally by Tiger Brands’ Corporate Affairs function and is therefore built into the group’s Corporate Affairs strategy. We revisited this strategy in 2015 building on a facilitated dialogue with approximately 85 leaders from across the group.
These individuals offered a cross-functional perspective and provided input on what world class corporate affairs and sustainability management should entail and the actions required to close the gap. The outcome of this exercise was a series of short- and long-term actions that we believe will help the group to better create and capture value from conducting business sustainably.
According to this strategy, our strategic priority, ‘making Tiger Brands a better company for the world’ is supported by seven key deliverables that are underpinned by our commitment to being an admired corporate citizen and a demonstrated business case (see diagram below). We have assigned short-term goals for each of the seven deliverables and hope to achieve these in the coming one-to-two years. Beginning in April 2016, we will report against these goals on a quarterly basis on the group website.
The case for sustainability
We support the philosophy that:
1. Good corporate citizenship is intrinsic to Tiger Brands.
2. Tiger Brands believes in a holistic approach to building and enhancing its reputation.
3. Doing good is good business.
4. Tiger Brands does not operate in a vacuum nor in a static environment of “business as usual”.
5. In order to thrive as a corporate organisation in a global context, Tiger Brands will be responsive to and will influence / shape the many environments that face the organisation.
6. Robust stakeholder relationships and engagement both within and outside the organisation are key to creating and unlocking real stakeholder and shared value.
7. The communities in which we operate must be better off because we are there.
8. Reputational and Social capital can be tracked and measured to enhance performance, returns and drive improvement year-on-year.
Central to achieving the group’s financial and brand growth objectives is managing sustainability and reputation. Key elements include:
- Building our reputation internally and externally.
- Promoting the corporate identity to all stakeholder groups.
- Adding value to society with integrity.
- Driving internal communication, aligned to company goals.
- Protecting our license to trade through proper governance and engaging with stakeholders.
- An integrated sustainability approach.
Within our Supply Chain function, we monitor environmental, social and governance performance through a questionnaire distributed regularly to our major suppliers. The results of this exercise are reviewed by the procurement and safety, health and environment teams.
Tiger Brands’ non-financial reporting is prepared in accordance with the core level of disclosure of GRI G4 principles and guidance, the requirements of the JSE FTSE Index, as well as governance guidelines in the JSE Listings Requirements and King III. Tiger Brands fully supports the principles of the United Nations Global Compact Network, which recognises the positive contribution business can make to a more sustainable planet. We are committed to improving our management and reporting of sustainability as an important – and integrated – aspect of our strategy.