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 our subsidiary companies, associates, trusts and joint ventures.
Robust processes, policies and principles lay the foundation for a strong ethical culture.
Sustainability governance
Given the coal industry's global context, we must adopt both a transparent and pioneering approach to ESG. In addition to addressing present concerns, we must actively seek out and pursue innovative ideas that will sustain our business’s future, while simultaneously ensuring that it leaves a positive legacy in landscapes, post-mining.
For us, ESG governance 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.
- Doing business ethically.
ESG risk management is embedded in all aspects of our business, not just to prevent or mitigate harm but to foster sustainable practices that deliver lasting, positive impacts. We identify, prioritise, evaluate, and manage a broad spectrum of risks and ensure that awareness of these is clearly and effectively cascaded to all levels.
Ethical principles are woven into our values, code of conduct, strategies, policies, procedures and standards. We have a zero-tolerance stance on corruption, fraud and misconduct. We are also committed to transparent reporting and continuous improvement in our disclosures. See our ratings and certifications for 2024.
Read more about our governance approach.
Our culture values and rewards ethical behaviour, integrity and respect. That is why we maintain a strong focus on ethical conduct, robust risk management and transparency. Our governance frameworks are aligned with legislation, statutory requirements and industry best practice, ensuring that we remain a responsible employer and a dependable corporate citizen.
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.