Page 39 - Stellar IAR2015

REPORT OF THESOCIAL AND ETHICS COMMITTEEREPORT OF THE SOCIAL AND ETHICS COMMITTEEThe Social and Ethics Committee is a sub-committee of the Board. The committee meets at least twice in each nancial year. The Social and Ethics Committee comprises three non-executive directors of whom all are independent and is chaired by the Chairman of the Board, Mr DD Tabata.The Social and Ethics Committee monitors the Group’s performance in social and economic development, good corporate citizenship and transformation. The Committee also monitors the Group’s activities, having regard to any relevant legislation, other legal requirements, or prevailing codes of best practice, with regard to matters relating to:SOCIAL RESPONSIBILITIES• To monitor the Company’s standing to social and economic development in terms of the goals and purposes of the: - Principles set out in the United Global Compact Principles;- Organisation for Economic Co-operation and Development (OECD) recommendations regarding corruption;- African Union;- JSE Listing Requirements; and- King Code of Governance for South Africa 2009• Endorse the Company’s Public A airs and Corporate Social Investment programs including sponsorships, donations and charitablegiving; and• Review annually the Company’s Public A airs and Corporate Social Investment programs;ETHICS RESPONSIBILITIES• Endorse the Company’s Code of Ethics (including core values) and submits same to the Board of Directors for approval;• Endorse the ethics management training program;• Review performance of the ethics management training program;• Review results of periodic employee attitude surveys; and• Identify ethics risks and opportunities;TRANSFORMATION RESPONSIBILITIES: SOUTH AFRICA• Ensure that there is full integration and alignment of all transformation processes within the Company in South Africa and to monitor the Company’s standing to social and economic development in terms of goals and purposes particularly in respect of:- the Employment Equity Act;- preferential procurement;- social investment;- community involvement;- the Broad-Based Black Economic Empowerment Act; and- skills development;• Review targets for the Company in South Africa in respect of the above processes;• Advise the Board on speci c strategies for transformation; and• Consider and review progress against set goals and targets in relation to all aspects of the Company’s transformation strategy.Progress in terms of the matters reviewed by the committee is reported at each committee meeting and feedback is given to the Board timeously.As set out in its terms of reference the committee has an independent role with accountability to the Board. The committee does not assume the function of management, but rather a role of monitoring. The committee has discharged all of the responsibilities as set out in its terms of reference.Dumisani TabataChairman of Social and Ethics CommitteeSTELLAR CAPITAL PARTNERS | 35