Accountability and sustainability

Social and ethics committee report

In line with the requirements relating to social and ethics committees as set out in the Companies Act, 2008 (Act No.71 of 2008), King III and the criteria of the JSE’s Socially Responsibility Investing Index, the group has established a Social and Ethics Committee. The committee acts on behalf of the board and is responsible for evaluating social and ethical responsibilities and making recommendations to the board thereon. The committee has all the functions and responsibilities provided for in the Companies Act. The committee members are set out in corporate governance, and attendance at meetings is set out here.

Terms of reference

The duties and responsibilities of the committee are set out in a formal terms of reference which have been approved by the committee and the board of directors.

The main duties of the committee include:

1.	Social and economic development including Stor-Age’s standing in terms of the goals and purposes of
	The 10 principles set out in the United Nations Global Compact Principles; The OECD recommendations regarding corruption; The Employment Equity Act; The Broad-Based Black Economic Empowerment Act; The Property Sector Charter; and The DTI Codes of good practice
2.	Good corporate citizenship, including
	Promotion of equality, prevention of unfair discrimination, and elimination of corruption; Contribution to development of the communities in which its activities are predominantly conducted or within which its products or services are predominantly marketed; Record-keeping of sponsorship, donations and charitable giving; Values and ethics; Adherence to the code of conduct; and Overseeing the monitoring, assessment and measurement of the above
3.	The environment, health and public safety, including the impact of Stor-Age’s activities and services, monitoring of and implementing recycling practices, reducing Stor-Age’s carbon footprint, consumption of electricity, consumption of water and disposal of waste.
	Overseeing the monitoring, assessment and measurement of the company’s activities relating to the environment and health and public safety
4.	Customer relationships, including Stor-Age’s public relations and compliance with consumer protection laws
	Overseeing the monitoring, assessment and measurement of the company’s consumer relationships, including advertising and public relations
5.	Labour and employment including
	Stor-Age’s standing in terms of the International Labour Organisation standards on decent work and working conditions; Stor-Age’s employment relationships, and its contribution toward the educational development of its employees; and Overseeing the monitoring of labour and employment practices.

The committee is further tasked with:

• Reviewing the adequacy and effectiveness of the company’s engagement and interaction with its stakeholders;
• Considering substantive national and international regulatory developments as well as practice in the fields of social and ethics management;
• Reviewing and approving the company’s CSI policy; and
• Determining clearly articulated ethical standards (the Code of Ethics) and ensuring that the company takes measures to adhere to them in all aspects of the business, thus achieving a sustainable corporate culture in the group.

Reporting on the committee’s areas of focus is set out in acting sustainably.

Mechanisms to encourage ethical behaviour such as the Code of Ethics and corporate citizenship policies were confirmed as adequate by the committee in the period under review.

Graham Blackshaw

Social and Ethics Committee Chairman

13 June 2016

STOR-AGE DURBANVILLE

Stor-Age Durbanville was the first self storage property in South Africa to be fitted complete with a solar photovoltaic system for the generation of its 3 phase power requirements. The technology went live in September 2013 and in late 2015, after the introduction of net metering by the City of Cape Town, the property was enrolled in the city’s programme.

The results of the installation have proven to enhance consumption savings by almost 80% on a like-for-like property basis.

Driven by our Core Value of Sustainability, we believe that every single decision or action that we take today, has a direct impact on all decisions or actions which can be taken tomorrow.