ACCA announces the winners of the 2010 ACCA SA Sustainability Awards

The winners of the 2010 Association of Certified Chartered Accountants South Africa, (ACCA SA) Sustainability Reporting Awards were announced at a special function at Hazeldene Hall in Parktown, Johannesburg. Assessments were based on Sustainability Reports submitted for the 2010 reporting period.

Opening the proceedings, Nadine Kater, Head of ACCA SA said: “Our Annual Sustainability Reporting Awards are not a marketing exercise. ACCA recognizes that unless it is measured it does not get done. We need to find ways of intentionally recognizing, recording and reporting on what businesses are doing to sustain the environment.”

The Association of Certified Chartered Accountants (ACCA) confers Sustainability Reporting Awards in more than 20 countries globally. ACCA’s Sustainability Reporting Awards seek to encourage better reporting on sustainability – economic, environmental and social performance by corporations across South Africa; to reward best practice and provide guidance to other entities that are publishing or intend publishing sustainability, environmental and/or social reports; and to increase accountability for impacts on, and responsiveness to stakeholders.

The judging panel is selected on the basis of their expertise and experience in the field. This year’s judging panel included Prof Neil Eccles, Head of the Institute for Corporate Citizenship, University of South Africa (Unisa), Shireen Naidoo, Partner Sustainability Services, KPMG, Steve Nicholls, Programme Manager, Climate Change and Water, National Business Initiative (NBI), Marcus Reichardt, MD PE International (South Africa) Ltd and Partner, Reichardt & Reichardt, Dr Mike Rose, Director, Clova Business Services and Dan Sonnenberg, Sustainability Strategist.

Nicholls explained the judging process, which he described as “a very robust process.” He also provided feedback on behalf of the judges as well as their recommendations. The latter, included improving reporting in the area of risk through “a real thought process;” being critical about what you are writing about; providing analysis, rather than a description of governance in terms of King III; being very clear about who the report is aimed at; analyzing, rather than describing the data (two years comparable data is not acceptable); and recognizing that there is a lot of value in an internal assurance process. The judging panel, in consultation with ACCA SA determines the award categories on an annual basis.

De Beers was declared the Overall Winner, Best Sustainability Report, and winner of the Best Sustainability Report in the Resources sector. This is the second year in succession that De Beer has won both awards. Exarro Resources was the runner-up in the category, Best Sustainability Report in the Resources sector.

Vodacom was the recipient of the award for the Best Sustainability Report, Non-resources, and Netcare was the runner-up.

Santam was declared the winner in the category, Best Sustainability Report, Financial Services sector. Standard Bank was the runner-up.

Wilderness Safaris received the reward for the Best Newcomer.

In previous years, awards were conferred for the most improved reports. This year it was decided that companies, which had shown particular improvements, would be commended. Sappi and Old Mutual were commended for their efforts.

Kater applauded all 51 entrants: “It is important to acknowledge that these awards would not be possible without your participation. I applaud each and every one of you.”

She urged all entrants to read the judges feedback: “Our judges are independent experts in their own right. It is in your best interest to read the judges feedback. This will improve your reporting.”

Kater concluded the proceedings by quoting from the Bishop of London’s address at the wedding of the Duke and Duchess of Cambridge, William and Kate, 21 April 2011: “We stand looking forward to a century which is full of promise and peril. Humans are confronting how to use wisely the power which has been given to us through discoveries of the last century. We shall not be converted to the promise of the future by more knowledge, but by an increase in wisdom and reverence, for the earth and for one another.”

If you would like more information about ACCA South Africa’s Awards for Sustainability Reporting, kindly contact Melanie Williams on 011 459 1900.