1:20am on Sep 23, 2019
At Sibanye-Stillwater, we are committed to the highest standards of corporate governance, ethical conduct and regulatory compliance. Strong and effective governance is fundamental to the sustainability of our business and to the creation of enduring value for all our stakeholders. Principled governance, ethical conduct and regulatory compliance across the spectrum of our operations are underpinned and reinforced by our CARES values – commitment, accountability, respect, enabling and safety.
We are committed to ensuring that our structures, processes and policies align with applicable laws, international standards and best practices as these evolve and develop globally. We have also embraced the outcomes-based philosophy of the King IV Report on Corporate governance and these have been embedded in its Integrated Annual Reports and Annual Financial Statements.
Sibanye-Stillwater’s Code of ethics sets out the principles of conduct and ethics to be followed by all company representatives to promote and foster, among other things, honest and ethical conduct in our business practices, compliance with all applicable laws and regulatory requirements, a work environment in which all individuals are treated with respect and dignity, the avoidance of conflicts of interest and ethical dealings with governmental officials, including compliance with all applicable anti-competitive, anti-bribery and anti-corruption laws.
The Code is an essential element of our approach to Environmental, Social and Governance (ESG) performance. The Code is binding upon to all directors, officers and employees of the Sibanye-Stillwater group of companies. In addition, we actively encourage and expect contractors, suppliers and other Group third party business partners to comply with the principles set out in the Code.
The Code contains whistleblower provisions under which concerns regarding actual or suspected violations of the Code or other improper activities may be reported, including on a confidential and anonymous basis, without fear of retaliation. Reported violations are investigated promptly and appropriate disciplinary action taken, including, where warranted, termination of employment or contract and, if the matter is criminal in nature, referral to the appropriate authorities.
The principles of the Code are elaborated further in specific policy statements on ethics and corporate governance, human rights, and sustainable development.
Our Board of Directors is led by an independent Chair and comprises twelve directors, ten of whom are considered independent of management. Our directors understand our business, are committed to our CARES values and Code of Ethics and actively work together to foster our short and long-term success. Specific Charters setting out roles and responsibilities have been developed for the Board and its standing committees. These are reviewed and if appropriate revised on an annual basis.
The Board is supported by the work of six standing committees – audit, risk, nominating and governance, remuneration, safety and health, and social and ethics – each of which adopts an annual work plan and meets regularly throughout the year.
Our 2018 reports cover our progress and achievements in delivering on our strategic objectives.
Our ability to deliver on our purpose, mission and strategic objectives is underpinned by the quality and expertise of our leadership.
Our CARES values – commitment, accountability, respect, enabling, and safety – are at the core of our approach.