REPORTINDEX
REPORTINDEX
Imperial's corporate governance structures are aligned to the principles of the King Code of Governance Principles (King III). The introduction of King IV is expected later in 2016 and the group is in the process of reviewing its governance structures and processes to ensure the successful application of King IV.
(2015: 133).
Our corporate governance report in the Integrated Annual Report covers Imperial's corporate governance model, structures and processes and provides more detail on our code of ethics.
Imperial Holdings is a multinational group comprising of many entrepreneurial units. Each division faces different risks and opportunities, and stakeholders in the different markets and countries in which we operate also have varying expectations and needs.
We are mindful that the effects of our commercial activities on broader society are potentially significant and as fiduciaries we strive at all times to exercise due care in our dealings with stakeholders. We subscribe to the view that corporate sustainability is founded on accountability for decisions that have economic, social and environmental impacts in the long term. Our strategy determines the sustainability initiatives we implement and our values guide the approach.
Authority, responsibility and accountability for the group's ethics, performance and sustainability is held at board level by the social, ethics and sustainability committee. The committee's chairman is an independent non-executive board member and the committee meets quarterly to review and monitor sustainability performance at group and divisional level. All material sustainability risks are elevated to the risk management committee and the board.
For the Logistics division, which accounts for the bigger portion of the group's impact on the environment, sustainability is overseen by sustainability executives in Logistics Africa and Logistics International.