Sustainability governance
Governance at Tiger Brands is centred on our purpose, to nourish and nurture more lives every day. This societal purpose shapes our governance and management structures and approach.
The board of directors is the highest-level body with ultimate oversight of Tiger Brands’ sustainability response and performance. The board provides leadership and strategic direction in the best interest of the company and its stakeholders, embracing the principles of ethical leadership and good corporate governance aligned to the King IV Report on Corporate Governance, the JSE Listings Requirements, the Companies Act and other relevant laws and regulations. The board is ultimately responsible for driving societal purpose through the business, establishing critical anchors for ethical and sustainable business practice, ensuring effective management of ESG risks and opportunities, and for advancing the business model and strategy towards product innovation as a solution to societal challenges.
Two board-level standing committees; the social, ethics and transformation committee (SETCO) and risk and sustainability committee (RSC) play a key role in sustainability governance at Tiger Brands. These committees are mandated by the board to execute certain sustainability-related responsibilities on its behalf.
- The social, ethics and transformation committee (SETCO) is the primary vehicle for overseeing, monitoring, guiding and reflecting on the environmental, social and governance (ESG) aspects of concern to the long-term growth and sustainability of the business. This includes a focus on impacts, risks, relationships and opportunities, and how these may affect, be managed or actively harnessed by the business in execution of its growth strategy. The committee guides the CEO and the executive committee towards continual improvement within these performance areas and monitors and reports on performance to the board. Key matters of concern to SETCO include organisational ethics, responsible corporate citizenship, sustainable development, stakeholder relationships, broad-based black economic empowerment, ensuring compliance, and driving best practice. SETCO receives and considers reports from the risk and sustainability committee (RSC) covering the environmental, health, safety and security risks that they monitor.
- The risk and sustainability committee (RSC) provides strategic guidance and leadership on environmental issues and oversees the implementation and revision of Tiger Brands’ environmental, health, safety and security policy. This committee plays the role of assisting, monitoring and influencing the aspects of sustainability considered in relation to minimising the environmental impacts of the company, and assessing and managing environmental risks and opportunities. The committee ensures that the group’s environmental stewardship strategy positions the group as a sustainability leader in retail, and further ensures that the environment and sustainability initiatives and objectives of the group are effectively integrated into the business at an operational level. The RSC reports into SETCO, as well as reports quarterly to the board on these environmental issues.
Other standing committees that play a role in the governance of sustainability, include:
- The nomination and governance committee (NAGC), which independently monitors the performance of the board, ensures protocols for ethical governance and succession of leadership are achieved and maintained.
- The remuneration committee (REMCO), which engages on and approves remuneration policy and strategy, and is the body responsible for approving any remuneration incentives linked to sustainability performance targets.
- The audit committee (AC), which audits, approves and assures sustainability-related performance data.
Spotlight on the social, ethics and transformation committee (SETCO)
This year the SET committee reviewed the following issues to ensure that there is effective and ethical leadership and an integrated approach to how Tiger Brands carries out its business and sustainability activities:
| WORKPLACE | SOCIAL ENVIRONMENT | ECONOMY | NATURAL ENVIRONMENT | |||
 |
 |
 |
 |
|||
|
|
|
|