Our report covers performance for the 2015/16 financial year and issues that are material to SAFCOL’s strategy and operations. Material issues have been determined through a process of stakeholder consultation and by considering the Company’s strategic priorities, key risks and opportunities.
This is SAFCOL’s fourth integrated report and encompasses the Company’s economic, social, administrative and environmental sustainability performance for the reporting year. The Company strives to improve its performance reporting every year, drawing on the contributions of stakeholders and advisory professionals, as well as the Company’s internal reporting appraisal process.
This integrated annual report covers the financial reporting period from 1 April 2015 to 31 March 2016. This follows a May 2013 decision by the Audit and Risk Committee that the SAFCOL Group needed to implement an integrated reporting framework that is aligned to the recommendations of Principle 9 of the King Report on Corporate Governance for South Africa, 2009 (King III). This report encompasses performance and data relating to the operations of the Group.
During the 2016 financial year, it was further observed that SAFCOL’s integrated reporting should undertake to improve alignment with other leading-practice reporting frameworks, including the IIRC and GRI-G4 reporting guidelines. This report endeavours to evidence this improved alignment.