Grindrod manages its resources through national and international best practice frameworks to guide the development and implementation of objectives, strategies, work plans, evaluation tools and reporting structures to achieve sustainable, ethical and socially responsible management of money, assets, skills, people, relationships and the environment.
The frameworks which guide the development of sound and sustainable business structures are:
- King IV, which aims to achieve an ethical culture, good performance, effective control and legitimacy, being the four fundamental governance outcomes according to universal principles and recommended practices.
- The six capitals of value creation, which provide a meaningful framework for developing sustainable, ethical and socially responsible strategies, evaluation tools and reporting structures. The concept of the six capitals was introduced by the International Integrated Reporting Council (IIRC) in 2013 and has since been integrated into King IV. The six are financial, manufactured, intellectual, human, social and relationship and environmental capital. Grindrod refers to these capitals as our money, our assets, our skills, our people, our relationships and our environment. These factors that provide the means to create value have been incorporated into key governance processes, including risk governance and capital-investment decisions.
- The Sustainable Development Goals (SDGs) give substance to a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The goals underpin the United Nations 2030 Agenda for Sustainable Development. Grindrod adopted six goals which are most relevant to its business and the communities in areas it operates in to guide business strategy and implementation: SDG4 (quality education), SDG5 (gender equality), SDG6 (clean water and sanitation), SDG8 (decent work and economic growth), SDG9 (industry, innovation and infrastructure) and SDG13 (climate action).
- The SDG Compass, a tool that facilitates sustainability as an outcome of core business strategy.
- The UN Global Compact’s Ten Principles, a value system that focuses on corporate responsibility in relation to human rights, labour, the environment and anti-corruption.
- The Universal Declaration of Human Rights and the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work.
- The Rio Declaration on Environment and Development.
- The OECD Anti-Bribery Convention.
- The TCFD recommendations on climate-related financial-risk disclosures.
These guidelines are further defined through specific international management and reporting parameters included in integrated management systems, being:
- the ISO 9001 quality criteria;
- the ISO 14001 environmental management system;
- the ISO 27001 information security management framework;
- the ISO 30001 risk management and the COSO internal control frameworks;
- the ISO 45001 occupational health and safety framework;
- the concepts and guiding principles included in the GRI’s G4 Sustainability Reporting Standards for the disclosure of the most critical impacts on the environment, society and the economy; and
- the international GHG Protocol, which defines reporting parameters for GHG or carbon (C) emissions, based on an operational-control approach.
Sustainable development goals (SDGs)
The 17 SDGs set targets spanning people, planet, prosperity, peace and partnership. Grindrod adopted six SDGs that relate specifically to its areas of business:
- SDG8 – To promote inclusive and sustainable economic growth through unlocking trade corridors in southern Africa, employment and decent work for all, through empowerment initiatives, HR policies, a safe working environment and steps to ensure the wellness of people, including fair treatment, working towards achieving B-BBEE targets, standardised remuneration structures acknowledging individual merit, the promotion of safety and external and internal enterprise-development initiatives.
- SDG4 – To ensure inclusive and quality education for all and promote life-long learning, through employee development initiatives, industry-related training and community-focused social investments, including career development plans, leadership and management development programmes, learnerships and apprenticeships, skills training and workshops, an internship programme and investments to improve schools and fund tertiary education.
- SDG5 – To achieve gender equality and empower all women and girls based on our Equality Framework under custodianship of our Equity Forum, through policies and principles aimed at eliminating gender-based discrimination, such as equal access to work, CSI initiatives and ICAS support to all employees and their immediate families.
- SDG6 – To ensure access to water and sanitation for all, through an integrated water-management policy that targets effective water-resource management, rainwater harvesting and dust suppression with used water.
- SDG9 – To build resilient infrastructure, promote sustainable industrialisation and foster innovation, through stringent management systems based on international benchmarks, investments in strategic infrastructure projects, which include diversification strategies in commodity handling to promote sustainable capacity utilisation, growing project-related solutions and infrastructure, building integrated freight solutions and developing a platform banking offering and providing SME banking services.
- SDG13 – To take urgent action to combat climate change and its impacts, through the implementation of targeted reduction in emissions and improved water security and waste management, including on site renewable energy installation and investigation into fuel-switching to reduce our carbon footprint.