Our sustainability approach

Governance

Our board of directors oversees governance and management, guiding ethical, sustainable practices that integrate environmental, social and governance-related impacts, risks and opportunities, aligned with our purpose to nourish and nurture more lives every day.

Direction and tone

The Tiger Brands board provides overall ethical leadership and strategic direction in the best interests of the company, guided by regulatory requirements, codes of good practice and market benchmarks.

Board oversight

Responsibility for sustainability governance and management is delegated to specific board committees. The primary oversight role is held by the social, ethics and transformation committee (SETCO), which works closely with the risk and sustainability committee (RSC). The nomination and governance committee (NAGC), remuneration committee (REMCO) and audit committee (AC) also contribute in specific areas.

Key sustainability governance structures

The SETCO oversees the governance and management of sustainability-related issues, including the environment, natural resources, climate change, ethical conduct, stakeholder relationships, employee engagement and community needs. The SETCO ensures these issues are integrated into group strategy, addressing both Tiger Brands’ societal impact and the effects of sustainability-related risks and opportunities on the company.
The RSC monitors and reviews the processes for identifying, assessing and prioritising impacts, risks and opportunities, including sustainability-related risks and opportunities and integrates these into group risk management. The RSC further monitors and reviews the company’s safety, health and environment (SHE) impacts, including climate change impacts. Additionally, the RSC ensures compliance with laws, regulations and best practices and reviews the company’s performance in managing these aspects. The RSC reports its findings to the SETCO.
The NAGC ensures board performance is regularly reviewed, ethical governance protocols are followed and leadership succession is managed. The committee facilitates board member induction, training and development, ensuring the board has the necessary expertise, including in sustainability and climate change, to oversee the group’s strategic response to these issues.
The REMCO engages on and approves the company’s remuneration policy and strategy, including incentives linked to sustainability performance targets.
The AC reviews the sustainability report before recommending it for board approval.

Terms of reference

The terms of reference for the board and its committees reflect their sustainability mandates. These documents consider the King IV Code on Corporate Governance, JSE listings requirements, and the Companies Act. The terms of reference for both the SETCO and the RSC explicitly mention climate change in defining their mandates to monitor and review environmental impacts, risks and opportunities, and oversee ethical governance and responsible corporate management. All committee terms of reference are available at www.tigerbrands.com.

Sustainability-related roles of all board committees

AUDIT

SETCO

RISK AND
SUSTAINABILITY

REMUNERATION

NOMINATION AND
GOVERNANCE

ENVIRONMENTAL

Climate change

Greenhouse gas emissions

Energy, water and waste

Pollution

Environmental compliance

Biodiversity

Resource scarcity

SOCIAL

Employee relations

Training and education

Diversity and equal opportunity

Non-discrimination

Human rights

Health and safety

Privacy and security

Labour relations

Local community impact

GOVERNANCE

Board diversity and structure

Executive pay

Bribery and corruption

Stakeholder engagement

Procurement practice

Risk management

Internal policies

Sustainability integration

The SETCO and the RSC each convene three times a year. During these meetings, they engage on Tiger Brands’ sustainability performance and the management of material sustainability and climate-related impacts, risks and opportunities. They provide guidance to the CEO and the executive team and report to the board after each meeting. The SETCO’s reports to the board include feedback on sustainability performance, management approach and key activities. Other committees also submit post-meeting reports to the board on their areas of responsibility. The annual work plans for the SETCO and the RSC ensure that relevant sustainability topics are discussed at meetings and reported to the board and for public disclosure.

More information on the composition, capabilities and committees of our board, as well as our corporate governance practices, is available in our IR.