Our approach to governance is informed by the principles outlined in the King IV Report on Corporate Governance for South Africa 2016 (King IV), the performance standards established by the International Finance Corporation, legislation and accepted industry norms. The board takes ultimate responsibility for our business's performance in all areas, including ESG. This extends not just to Thungela, but also to its subsidiary companies, associates, trusts and joint ventures.
Robust processes, policies and principles guide the board's activities and lay the foundation for a strong ethical culture. They ensure the board's adherence to statutory and industry requirements, providing direction and setting limitations on its decision-making.
Sustainability governance Given the coal industry's global context, it is imperative that we adopt both a transparent and pioneering approach to ESG. In addition to addressing present concerns, the board must actively seek out and pursue innovative ideas that will sustain the future of the business, while simultaneously ensuring that it leaves a positive legacy in post mining landscapes.
The board retains accountability for our ESG strategy, initiatives, progress and reporting. It is also tasked with evaluating our susceptibility and assessing our management of significant environmental and social risks. It delegates responsibility for managing impacts on the economy, environment and people to the chief executive officer and his executive committee.
ESG governance at Thungela encompasses:
- Setting clearly defined goals and objectives.
- Emphasis on risk management and internal controls.
- A thorough understanding of ESG structures, processes, risks and opportunities.
- Honest and transparent reporting of ESG performance.
- The utilisation of best practice standards to elevate sustainability efforts.
We proactively and regularly identify, assess and develop strategies to address risks and opportunities for the business. We also have a compliance assurance management system in place and undertake regular internal and external assurance to ascertain the effectiveness of controls.
Sound corporate governance and transparent reporting foster accountability and build trust with our stakeholders. Our ESG report captures our approach, performance and targets across our most material sustainability topics.
We operate our business ethically, adhering to the highest standards of corporate governance and have a zero-tolerance approach to corruption. Human rights considerations are woven into our values, code of conduct, and the policies and procedures that guide the effective and ethical operation of our business, including our human rights policy.
Sound corporate governance and transparent reporting foster accountability and build trust with our stakeholders. Our ESG report captures our approach, performance and targets across our most material sustainability topics.
IMPORTANT CONTACT DETAILS
Free Call: 0800 555 117
Email: Thungela@tip-offs.com
Free Fax: 0800 00 77 88
Free Post: KZN 138 Umhlanga Rocks 4320
Website: www.tip-offs.com
We operate our business ethically, adhering to the highest standards of corporate governance and have a zero-tolerance approach to corruption. Human rights considerations are woven into our values, code of conduct, and the policies and procedures that guide the effective and ethical operation of our business, including our human rights policy.
Risk and opportunity management
We proactively identify and address business risks and opportunities through strategic planning.
Diversity and inclusion
We promote diversity and inclusion at all levels, fostering a workforce diverse in race, age, and gender.
Equality promotion
We implement dedicated strategies to ensure equality and develop a diverse workforce.
Zero tolerance for corruption, fraud and misconduct
We enforce strict anti-corruption policies and training to uphold integrity.
Transparency and fair practices
We protect whistle-blowers, promote tax transparency, and discourage anti-competitive practices throughout our processes.
Our board of directors sets the strategic direction and performance expectations for Thungela and its subsidiaries, ensuring our ESG considerations are central to our governance. Guided by regulations, policies, and laws, we uphold a strong, ethical culture and statutory compliance.
Clear ESG Goals and Objectives: Defining our sustainability ambitions with precision.
Strategic Focus: Aligning structures, processes, risks, and opportunities for optimal governance.
Read our ESG Report to learn more about our governance approach and sustainability initiatives, or click here for more info on our leadership or corporate governance efforts.