About this report

Report audience, purpose and boundary

Our sustainability report (SR) reviews Tiger Brands’ performance in managing our most significant impacts on people, society and the environment and in addressing the most significant environmental, social and governance (ESG) risks and opportunities that could reasonably be expected to impact our business over the short, medium or long term. The SR is written as a supplement to the integrated annual report (IR) and targets a broad range of stakeholders, including shareholders, investors, ESG rating agencies, regulatory agencies, employees, non-governmental organisations (NGOs), customers, partners, suppliers and local communities. The report covers the activities of all our operations in South Africa and includes a report on our operations in Cameroon.

Noting the growing call from investors and analysts for transparent, reliable and comparable ESG data, we have also made provision for the disclosure expectations of relevant ESG ratings agencies. We are committed to further improving our data collection and disclosure systems to ensure stronger alignment with the above sustainability-related disclosure standards and frameworks from 2024.

Double materiality

In response to recent developments in global disclosure standards and frameworks, we have adopted double materiality across our reporting suite:

Financial materiality: Our IR provides information on those matters that are likely to influence report users’ assessment of Tiger Brands’ future cash flows over the short term (less than 12 months), medium term (one to three years) and long term (beyond three years). Our AFS reflect the effects on company value and cash flow that have already taken place at the time of the financial year end.

Impact materiality: Our SR provides disclosure on the most significant impacts of our operations and activities on people, society and the environment over the short, medium or long term; this includes impacts caused by the company in its own operations, products or services, as well as the impacts directly linked to Tiger Brands’ upstream and downstream value chain. We have also made provision in the SR for financially-material ESG risks and opportunities impacting the business, thus adopting a double materiality perspective for our sustainability report.

Assurance

We use a combined assurance model comprising assurance obtained from management and from internal and external assurance providers. More details on our combined assurance model are provided in the front sections of our IR. Aside from our broad-based black economic empowerment (B-BBEE) performance, which has been externally verified by EmpowerLogic Proprietary Limited, the non-financial data in this report has not been independently assured. Marsh South Africa conducted risk control audits at our manufacturing sites and warehouses covering health, safety, security and fire protection and readiness. KPMG conducted internal audits on energy intensity, total water use and waste intensity at a number of sites including Hennenman and Randfontein Mills, Albany Durban and Albany Germiston, and, Beverages, Home, Personal Care & Baby, Culinary Boksburg and King Foods. The scope of the review was focused on the completeness and integrity of the following KPIs, energy intensity, total water use and waste intensity. The period under review was from 1 October 2023 to 31 March 2024.

The social, ethics and transformation committee (SETCO) and the risk and sustainability committee (RSC) review the draft sustainability report and make edits where necessary, prior to sending the draft to the audit committee (AC) for review. The AC oversees external assurance of select performance data and reviews the completeness of disclosures in the report before recommending it for board approval. Each of the chief officers have signed-off relevant sections of this report that relate to issues under their control.

Geraldine Fraser-Moleketi
Chairman

Tjaart Kruger
Chief executive officer

Donald Wilson
Chairman of audit committee