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Sustainability report launched to identify risks to company

22nd April 2016

  

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In a dynamic business landscape, the four pillars of sustainability – economic, social, environmental and governance – have become a focal area for corporate South Africa, says South Africa-based black-owned engineering consulting firm Gibb.

The company has, thus, launched its first sustainability report, which it says is a testimonial to its commitment to excellence. It serves to anticipate future scenarios and identify issues and risks that face South Africa and the continent.

Gibb environmental services GM Dr Urishanie Govender highlights that the document was developed following internal stakeholder engagement to identify key indicators that have a material impact on Gibb’s sustainability.

Gibb group business development executive Muzi Siyaya notes in a statement made in February that the slowdown of China’s economy has reduced capital expenditure on major infrastructure projects in South Africa and the rest of Africa, impacting significantly on the consulting engineering industry. The muted demand from China is expected to put a dampener on growth in the consulting engineering industry over the next year or two. As a result, many African countries will be looking to diversify their economies.

“Possible investment in other areas, such as manufacturing, where bulk infrastructure is required, could be favourable for consulting engineers. “South Africa, in particular, is moving towards diversifying its economy, which could partially offset the lack of investment in public infrastructure,” adds Siyaya.
The cost of capital is, however, increasing and South Africa’s challenged credit rating and weak currency makes it particularly challenging to raise capital, he notes, emphasising that, if this continues, State-owned entities, such as Eskom, which are major stimulants of growth in the consulting engineering industry, will find it difficult to raise money.

Govender indicates that Gibb has recognised that its sustainability journey begins at home and has restructured the business by creating a dedicated sustainability unit, having direct accountability to the group CEO.

The sustainability reporting process is managed in accordance with the Gibb ASPIRE approach, which advocates a scientific and comprehensive method to reporting, starting with the acknowledgment of the company’s impact, working smartly, enabling a participative and integrative culture, responding effectively and, finally, continuous improvement on Gibb’s sustainability performance.

Constant investigation and the identification of issues that concern Gibb are an integral part of doing business, says Gibb environmental sustainability consultant Louwrens van der Merwe.

“We need to constantly look at these issues to evaluate materiality, engage with our stakeholders and process information to ensure we function and manage our talented employees, and execute our operations, in a manner relevant to a business environment that is ever changing,” he stresses.

Govender states that initiatives, such as the sustainability report, are needed for the progression and establishment of future-based practices that will only benefit Gibb’s advancement and enable the company to share best practices across the value chain to drive positive change towards sustainable outcomes.

She notes that the report has proven that sustainability is not a destination but a continual journey, adding that Gibb is confident that a good base is set for the future sustainable management of the company.

Govender also points out that the company has worked closely with Consulting Engineers South Africa in the development of an Engineering Sustainability Reporting Framework to drive a common approach to sustainability performance within the engineering consulting services in South Africa.

She points out that the company’s commitment to sustainability reporting in accordance with the latest requirements of the Global Reporting Initiative, emphasises the aspirations of the firm to respond to meeting inter- national standards of reporting.

“Gibb understands the importance of implementing sustainability principles into our operations and, as the firm recognises the link between a healthy environment, both in terms of the natural and the social context, and a growing economy that supports social upliftment. “It is also committed to leading the engineering consulting [industry] in protecting and enhancing the lives of people and the natural environment.”

This commitment and stewardship is essential to continued business success and, in this regard, Gibb acknowledges that the concept of sustainability must play a central role in its operations, including its projects locally and abroad, concludes Govender.

Edited by Tracy Hancock
Creamer Media Contributing Editor

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