Brait's approach to corporate sustainability is to create long-term
shareowner value by embracing opportunities and managing the risks
derived from economic, social and environmental developments. Brait
views sustainable development as an essential component in the
growth and improvement of the group in all its operations. In light of
this, it strives to find a balance between economic objectives, social
upliftment and environmental responsibility ("triple bottom line"), in
recognition of the financial and reputational benefits of integrating
sustainability into sound business practice.
Brait is pleased to present the group's third consecutive annual
sustainability report. The aim of this report is to demonstrate to
stakeholders the group's continued commitment to operate a
sustainable company, whilst respecting all three aspects of the triple
bottom line. This report covers the activities of the Brait group, during
the 2006 reporting period.
The report follows a similar format used for the two previous reports,
and draws on the framework of the internationally accepted Global
Reporting Initiative (GRI) Sustainability Guidelines (2002), as well as
the criteria of the JSE Limited's (JSE) Socially Responsible Investment
(SRI) Index, as guides for sustainability reporting on the triple bottom
line. These criteria have been used for guidance only, with this report
focusing on issues that are specifically material to the the business of
Brait. Sustainability is not an isolated undertaking removed from dayto-
day business activities, and as such, this report should be read in
conjunction with the rest of the annual report to gain a full overview
of the group's activities.
As a financial services company, the group's contribution to promoting
sustainable development relates largely to its ability to make a positive
impact on social upliftment, and economic development. The group has
thus taken the strategic decision to focus its sustainability activities on
addressing the challenges that are most material to its business,
namely the responsible provision of its financing, lending and funds
management activities (taking into account both social and
environmental indirect impacts), the roll-out of its BEE initiatives,
the promotion of its CSI motto of "better opportunities through
education", and the implementation and maintenance of sound
employment practices. Brait nevertheless recognises the importance of
the natural environment, and the minimisation of both the direct and
indirect environmental activities of its business.
With the increased focus on sustainability, worldwide, Brait has
benchmarked itself against the criteria of the JSE Socially Responsible
Investment (SRI) Index, launched in May 2004. This index aims to
promote and enhance good corporate sustainability practices, in South
Africa, by using a set of predetermined criteria to assess and measure
companies' triple bottom line performance. Participation in the JSE SRI
Index is voluntary and limited to the 160 companies listed in the
FTSE/JSE All Share Index. Brait has participated in this process, for the
third consecutive year, and is proud to be one of the 58 companies
included in the JSE SRI Index for 2006.
Interaction with our stakeholder groups is fundamental to the
sustainability process. Brait looks forward to engaging with all its
stakeholders on the issues raised in the report, and encourages
feedback to advance the company's approach to sustainability
development and management, in an effort to continually improve in
these key areas.
The framework for reporting on the triple bottom line, in this report, is
as follows: |
