|Full-time ESG and sustainability expert appointed to lead and guide ESG and sustainability strategy across Remgro
|Increased scope of carbon reporting to include six investee companies in Remgro’s environmental reporting boundary
|Inaugural climate change disclosures published aligned to TCFD framework recommendations
|Level 7 contributor status in terms of BBBEE
|Developed strategic ESG framework to establish environmental focus areas
|Group-wide collaboration on social impact and CSI initiatives
|Implemented ESG Investment Framework and policy, including Standard Operating Procedure (SOP)
|Remgro continues its inclusion in the FTSE4Good Index Series
|ESG training rolled out to all investment managers via Remgro Group’s Investment Managers Conference
|Ongoing membership of the Ethics Institute of South Africa
|ESG baseline report completed across Remgro’s investee companies
|View the full ESG and Sustainability Report.
|Remgro’s approach to ESG and sustainability is anchored in what we see as our critical stewardship role in managing our assets and the pursuit of new investments. Our responsible investment principles are at the cornerstone of our decision-making. This enables us to adhere to robust criteria for our investments that address some of South Africa’s most material issues to deliver sustainable financial returns, whilst fostering a positive, measurable ESG impact that delivers shared value for all our stakeholders.
We strive to ensure that impact is purposefully integrated throughout the investment lifecycle and where sustainable value can be generated over the long term through a continuous focus and ongoing effort to improve ESG performance. This while ensuring financial sustainability as well as to seize the opportunities from the transition involved. Remgro is committed to helping our investee companies shape their approach to ESG to ensure our investments respond to the opportunities and challenges that will drive sustainability and deliver better environmental, social and economic outcomes throughout our ecosystem.
|We believe the greatest progress in advancing Remgro’s sustainability agenda can be realised by influencing and supporting all our investee businesses across their value chains. We see implementation of ESG across Remgro and its value chain as critical.
Remgro is working across the Group to implement sustainable behaviour through ESG principles and the creation of consistent standards to achieve our common sustainability goals that collectively deliver greater and more measurable impact. Governance and climate risk mitigation practices are part of Remgro’s value chain activities as well as its investee companies’ ecosystems to drive progress towards net zero goals.
Although there is still much to do, we can already see progress with respect to climate action. Many of the companies in which Remgro invests have already set ESG targets regarding climate change and energy management. Nearly half of the 11 investee companies assessed have set net zero targets and seven have energy efficiency targets. Remgro plans to work with the remaining companies to support their ongoing implementing actions as well as the development of future targets in this respect.
|Remgro has a crucial role to play in unlocking shared value that enables a more prosperous and equitable future for all South Africans. By creating inclusive socio-economic development and growth, we can help create meaningful impact across our stakeholders and positively contribute towards making a difference to society.
At Remgro, we recognise and affirm the importance of transformation and empowerment in the creation of access to equal opportunities for all South Africans. Hence, we are continuously striving towards improving our broad-based black economic empowerment (BBBEE) rating. We remain committed to creating a more equitable working environment built on diversity and inclusion, and seek to empower our employees through skills and talent development.
Our long track record helping communities is focused on unlocking shared value to create socio-economic development in a way that improves the lives of many aligned to the UN Sustainable Development Goals. This includes working in the communities where we serve with NGOs, as well as Corporate Social Investment (CSI) projects involved with enterprise and community development and the creation of opportunities for young people in education and training to eradicate poverty and enable sustainable livelihoods.
During 2023, Remgro facilitated a workshop for some of its investee companies to engage on their social impact initiatives and CSI plans, with the aim of exploring shared opportunities for collaboration. This dialogue is ongoing and Remgro plans further workshops to address other ESG topics to leverage experience, knowledge and best practice across the Group.
|In line with expectations of how ESG performance should be reported upon in practice, Remgro aims to provide transparent and accurate disclosures on its metrics and improvements made against best practice. In the 2022 Integrated Annual Report, we committed to the creation of a schedule to measure Remgro’s ESG progress, reporting against defined targets
and metrics. In fulfilment of our commitment, this year Remgro has prepared disclosures aligned to Task Force on Climate-Related Financial Disclosures (TCFD) framework recommendations.
As a market-driven initiative to develop recommendations for voluntary and consistent climate-related financial risk disclosures, this is helping us to address climate change effectively across the Remgro Group and the companies in which it invests to minimise investment risk and maximise opportunities from the transition.
Remgro is also establishing priorities and metrics for performance assessment as part of its ESG strategy with reference to the Principles for Responsible Investment (PRI), the International Finance Corporation (IFC) Environmental and Social Performance Standards, the emerging International Sustainability Standards Board (ISSB) work, BBBEE and other appropriate South African frameworks relevant to environmental, social and community developments.
In addition, the updated ESG footprint report conducted during the first half of the 2023 calendar year will be used by Remgro to set further ESG targets and aid the expansion of ESG reporting across the Group over the course of the coming year.