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| ENVIRONMENTAL |
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Brait operates in many different regions, some of which have critical
resource bases, which need to be wisely used if they are to provide
sustainable support for development. This is particularly applicable in
the group's African operations. It has become increasingly important
for organisations worldwide to participate in conserving the
environment. All companies, to a varying extent, have an impact on
environmental resources and therefore need to develop strategies to
measure and monitor their impact, and implement systems to ensure
that these resources are used in a responsible manner.
The board recognises that, as a financial services organisation, Brait's
environmental impacts are lower than those of other industries, but
that environmental risk may arise indirectly from the environmental
impact of the actions of its suppliers, clients, staff, business partners
and investment companies. Its strategy and objectives, in terms of the
environment, are based on the premise of ensuring a better life for
all the group's stakeholders and future generations and, in doing so,
ensuring that none of the group's activities have a detrimental
effect on the environment. The group undertakes to conduct
its business activities in a manner that minimises or eliminates
negative impacts, and maximises positive impacts of an environmental
or socio-economic nature.
The board has committed to ensuring that Brait, and those parties over
whom it has influence, set appropriate standards to deal specifically
with environmental challenges and the subsequent measures required
to reduce any negative impact on the environment.
Due to the significance of the group's commitment to the environment,
the group chief executive, assumes direct responsibility for ensuring
that the group policies in place are appropriate and will lead to the
achievement and maintenance of, as a minimum, the benchmark
practice in all jurisdictions in which the Brait group operates.
The environmental steering committee, chaired by the group chief
executive, is mandated to assume responsibility for environmental risks
across all aspects of the group's operations and to provide the board
of directors with assurance that the group policies and standards in
place are appropriate. The committee meets at least twice a year, and
their brief incorporates the following areas of responsibility: |
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Identifying all critical environmental issues and risks; |
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Setting minimum standards for the group; |
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Reviewing standards against best industry practice; |
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Implementing the group's environmental policy; |
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Monitoring the company's use of natural resources; |
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The development of indicators to assess progress against
recognised standards; |
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Measuring environmental performance in each of the group's
operations; and |
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Reporting to the board. |
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| Achievement against objectives |
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Objectives set for the 2006 financial year |
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Performance against objectives |
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Approval of targets for the reduction of energy
and water usage. |
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Targets
approved to reduce the electricity and water consumption
at the Johannesburg office premises by 15% over a three-year
period. |
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Continued measurement, and monitoring of energy and water
consumption. |
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Accurate consumption figures are available up until the sale of
land and buildings (October 2005). As a tenant, subsequent to
this date, we have been unable to obtain exact consumption
figures specific to our business, however, our facilities department
are addressing this issue with the landlord, and investigating
various solutions to obtain accurate measurements in the future. |
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Further initiatives to reduce direct environmental impacts. |
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Redesign of Johannesburg office premises to consolidate and
reduce the required space to accommodate the same number of
employees, resulting in more effective utilisation (and reduction)
of electricity consumption. Comparison between annual figures
for 2004 and 2005 (adjusted to accommodate missing readings
for Nov and Dec 2005 – post sale of building) reflect that the
target for reduction in water consumption was met, whilst the
anticipated energy saving from this initiative will only reflect
during 2006. |
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Enhanced management of indirect environmental impacts. |
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Increased focus on procurement of suppliers who are both BEE
compliant and offer environmentally-friendly solutions (i.e. waste
paper collection for re-cycling). |
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