Anet M. Smit

Throughout the world, countries and companies are directing their attention towards actions to protect the planet. An important focus area during various initiatives is the aim to stabilize greenhouse gas concentrations at a level that would prevent dangerous anthropogenic interference with the climatic system. Various targets are set by governments to reduce greenhouse gas emissions and the South African Government is, among others, investigating a carbon tax policy to facilitate their transition to a greener economy. This paper analyzes the sustainability reports of the top ten manufacturing companies listed on the Johannesburg Stock Exchange (JSE) and the disclosures of emissions were evaluated against a checklist that was developed through a literature review comprising various sources.
From the results of the research, it is evident that all the companies reviewed are aware of the importance of emissions disclosure and the impact that emissions have on climate change. Companies, in general, adhere more to the qualitative, narrative type of requirements than to the more quantitative, performance-related reporting of emissions. In this study the reporting of the companies specifically on Scope 3 emissions were inadequate. More attention should be given to measure performance and to improve their systems to quantify data

This study investigated the extent to which banks in South Africa report on remuneration and incentives according to the Global Reporting Initiative (GRI) guidelines. The study was done by examining the annual integrated reports of eight commercial banks listed on the Johannesburg Stock Exchange. Content analysis was used as the research method in this empirical study. There was, on average, 75% compliance to G4-51 a, the standard concerning remuneration policies by the integrated reports studied and 69% compliance to G4-52 a, the standard concerning the process for determining remuneration. There was a very low degree of compliance to standard G-53 a and standard G4-55 a, which concern how stakeholders’ views are sought and taken into account regarding remuneration and the ratios regarding compensation, respectively. Two of the standards had no compliance at all. They are G4-51 b and G4-54 a that respectively, concerns how the performance criteria in the remuneration policy relate to the highest governance bodies’ and senior executives’ economic, environmental and social objectives and the ratio of the annual total compensation for the organization’s highest-paid individual in each country of significant operations to the median annual total compensation for all employees. These are two of the most important standards in order to reach the objective of social responsibility reporting with regards to remuneration and that serious consideration must be given as to why there is no compliance. Based on the findings from this study, it is found that social reporting by the banks listed on the JSE with regards to remuneration, as indicated by the GRI G4, are relatively poor.

Keywords: sustainability reporting, sustainable development, global reporting initiative, integrated reporting; remuneration and incentives, corporate social responsibility, banking industry, South Africa.
JEL Classification: M14, N2, N27, M52