Dear stakeholder
BUSINESS SUSTAINABILITY
Sustainability is embedded as a core value in the Italtile business. In my letter to stakeholders in the 2023 IAR, I noted that the Group had developed a new ESG sustainability strategy, underpinned by a range of KPIs that would improve alignment and focus across the business to achieve our ESG ambitions.
As a responsible business, we recognise our duty to safeguard the planet for future generations. With this in mind, we advocate for our customers’ right to a beautiful home – whether in their living spaces or within the communities and natural landscapes we are a part of.
Our Group is committed to sustainability, actively addressing our environmental impact, enhancing eco‑efficiency, and offering products that support our customers to live sustainably.
Italtile believes that the application of effective governance is essential to establishing an ethical and successful organisation which creates sustainable value for its stakeholders, and embraces the principles set out in King IV. King IV’s outcomes-driven approach to corporate governance aligns with Italtile’s existing governance framework and commitment to sustainable value creation and continuous improvement.
The Group subscribes to the Institute of Directors’ Governance Assessment Instrument (“IoDSA GAI”).
Our retail brands and manufacturing businesses support the Group’s commitment to working towards achieving the United Nations Sustainable Development Goals to realise a better and more sustainable future for all. Our corporate social investment (“CSI”) projects are aligned with the Group’s purpose and mission, strategy and material issues, and are a combination of structured and ad hoc projects that arise from community needs in the areas in which we conduct our business. The common thread is to achieve shared value for the Group and our local communities. Most of our projects fall within the spheres of education, sports and environment.
The Social and Ethics Committee ("the Committee") is pleased to present its report for the financial year ended 30 June 2024.
In this report, the Committee, together with the executive management team, provides feedback on behalf of both Italtile and Ceramic Industries with respect to their performance in relation to social and ethics, as well as the Group’s ESG imperatives.
The Group regards transformation as a social, moral and strategic business imperative. Management recognises that as a responsible corporate citizen, the Group has an obligation to contribute to bringing about a more equal and inclusive society - starting within our own business. Our transformation strategy is closely aligned to the objective of the B-BBEE Codes and we employ an integrated approach to accelerate transformation across the Code's five criteria.
The Foundation is a broad-based black ownership scheme, with the objective of conducting public benefit activities (public benefit organisation ("PBO") ref no 930044728) in a non-profit manner and with an altruistic and philanthropic intent, working towards the transformation and upliftment of previously disadvantaged communities.
The Foundation accepts and deploys socio-economic development and skills development donations in terms of the B-BBEE legislation and is authorised to issue section 18A certificates.
The Foundation's distributions are made to public benefit activities relating to education, sport and conservation, as outlined in the following narrative.
