GOVERNANCE STRUCTURES AND SYSTEMS
We have clear structures in place to ensure that we integrate sustainability into our business strategies, processes and operations, in line with our sustainability management framework described in the section below, headed ‘Our material Sustainability issues’.
At governance level, we have a four-member sustainability board sustainability committee which meets quarterly to deliberate on sustainability matters. We have also formalised a sustainability charter which provides management with a high-level expression of intent.
Our governance of sustainability draws on the established systems and reporting templates used for the risk management process. At each sustainability board committee meeting, general feedback is given on each of the 10 components of our sustainability management framework. This feedback is provided via a sustainability risk log, which documents progress and highlights aspects that require attention in the following quarter. In addition, at each quarterly meeting more detailed feedback is provided on specific components of the sustainability management framework in accordance with an annual schedule of report submissions. Feedback according to the risk log is reviewed by Internal Audit. The chairman of the sustainability board committee reports to the main board on pertinent issues.
At management level, Santam has established a dedicated integrated sustainability unit. The manager of this unit reports to the Executive Head of Market Development, which ensures direct access to the Santam executive committee. The manager of integrated sustainability facilitates, co-ordinates, oversees and reports on sustainability, as opposed to direct implementation, and this role is defined by and measured against clear key performance areas (KPAs).
Over the past three years we have made good progress in setting up structures that have the necessary executive authority and provide the crucial reach into our business operations. To ensure that sustainability is integrated within the business, accountability for each of the 10 identified sustainability components has been placed with a senior line manager in each functional area. These ‘component owners’ are responsible for monitoring and reporting on progress in the elements pertaining to each sustainability component. In addition, we have established dedicated positions and appointed staff to take custody of enterprise development, environmental management and stakeholder relations.