Governance Framework and Accountability
In pursuance of its ongoing commitment to ensure that the group is managed in an efficient, responsible and ethical manner and in the interests of all its stakeholders, Illovo remains committed to achieving the highest standards of corporate governance and corporate citizenship, by adhering to the relevant codes of best practice, principles of fairness, accountability, responsibility, transparency and integrity.
Our governance framework is structured to ensure compliance with the laws, regulations and codes of best practice applicable in all the countries in which we operate, including the South African Companies Act 2008 and Companies Regulations 2011, the Listings Requirements of the JSE, and the requirements of King III. In addition, we are guided by the principles of the Global Reporting Initiative and the Socially Responsible Investment Index of the JSE.
As more fully reported in the Social and Ethics Committee Report, in accordance with the South African Companies Regulations, the Illovo group is guided by the UN Global Compact Principles, the OECD recommendations regarding corruption and the ILO Protocol relating to working conditions.