PROFILING PRIVATE SECTOR _Final_Feb_2018.pdf · 1.1background: stock exchanges and sustainability Stock exchanges play a critical role as change agents that catalyse the uptake of

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PROFILING PRIVATE SECTOR SUSTAINABILITY PRACTICES IN BOTSWANA: BOTSWANA STOCK EXCHANGE LISTED DOMESTIC

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CONTENTS

PROFILINGPRIVATESECTORSUSTAINABILITYPRACTICESINBOTSWANA:BotswanaStockExchangeLISTEDDOMESTICCOMPANIES.............................................................................................................11.0INTRODUCTION...........................................................................................................................................................4

2.0APPROACHTOPROFILINGSUSTAINABILITYPRACTICESOFBSE-LISTEDCOMPANIES........113.0SUSTAINABILITYPRACTICESINBSELISTEDCOMPANIES..................................................................163.1CATEGORY1:NON-BANKINGFINANCIALSERVICESANDINSURANCESECTOR.......................163.1.1BotswanaInsuranceHoldingsLimited...................................................................................................17

3.1.2LetshegoHoldingsLimited..........................................................................................................................203.1.3AfinitasLimited.................................................................................................................................................22

3.2CATEGORY2:RETAILANDWHOLESALINGSECTOR..............................................................................23

3.2.1ChoppiesEnterprisesLimited....................................................................................................................233.2.2SechabaBreweriesHoldingsLimited......................................................................................................263.2.3SefalanaHoldingsCompanyLimited.......................................................................................................273.2.4FurnmartLimited.............................................................................................................................................30

3.2.5OlympiaCapitalCorporation(Botswana)Limited............................................................................313.3CATEGORY3:PROPERTYANDPROPERTYTRUSTSECTOR.................................................................323.3.1PrimetimePropertyHoldingsLimited...................................................................................................323.3.2RDCPropertiesLimited(RDC)...................................................................................................................34

3.3.3LetloleLaRonaLimited.................................................................................................................................363.3.4NewAfricanPropertyLimited...................................................................................................................373.3.5TheFarPropertyCompanyLimited........................................................................................................383.3.6TurnstarHoldingsLimited...........................................................................................................................39

3.4CATEGORY4:BANKINGSECTOR......................................................................................................................403.4.1BarclaysBankBotswanaLimited..............................................................................................................403.4.2FirstNationalBankBotswanaLimited...................................................................................................433.4.3StandardCharteredBankBotswanaLimited......................................................................................45

3.5CATEGORY5:SECURITYSERVICESSECTOR...............................................................................................483.5.1G4SBotswanaLimited...................................................................................................................................48

3.6CATEGORY6:TOURISMSECTOR......................................................................................................................513.6.1ChobeHoldingsLimited(CHL)...................................................................................................................51

3.6.2CrestaMarakaneloLimited..........................................................................................................................533.6.3WildernessHoldingsLimited......................................................................................................................55

3.7CATEGORY7:ENERGYSECTOR.........................................................................................................................583.7.1EngenBotswanaLimited..............................................................................................................................58

3.8CATEGORY8:INFORMATIONANDCOMMUNICATIONTECHNOLOGY(ICT)SECTOR.............61

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3.8.1BotswanaTelecommunicationCorporationLimited.......................................................................613.9CATEGORY9:MININGANDMATERIALSECTOR.......................................................................................64

3.9.1MinergyLimited...............................................................................................................................................644.0BOTSWANASTOCKEXCHANGEANDSUSTAINABILITY........................................................................665.0SYNTHESISOFEXISTINGSDGS-COMPLIANTSUSTAINABILITYPRACTICES...............................696.0 CONCLUSION.......................................................................................................................................................74

7.0ACKNOWLEDGEMENTS........................................................................................................................................758.0REFERENCES..............................................................................................................................................................76

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1.0INTRODUCTION

TheAddisAbabaActionAgendaofthethirdInternationalConferenceonFinancingforDevelopment held in 2015 clearly articulates, among others, the reaffirmation ofnationalgovernmentstoachievesustainabledevelopmentthroughpromotinginclusiveeconomic growth, protecting the environment, and promoting social inclusion1. Thiswasinanticipationoftheuniversalpost-2015developmentagendawhichpartlysoughtwaystofurtherstrengthentheframeworktofinancesustainabledevelopmentandthemeans of implementing the agenda. The Addis Ababa Action Agenda furthermade aclarion call to all diverse businesses (ranging frommicro-enterprises to cooperativesand tomultinationals) to apply their creativity and innovation to solving sustainabledevelopment challenges. The Universal Post 2015 Agenda or the 2030 Agenda forSustainable Development was ultimately adopted in the same year, with its 17Sustainable Development Goals (SDGs) and associated 169 targets for achieving thegoals.The17goalsaresummarisedbelow2.

Goal1_Nopoverty

Goal2_Zerohunger

Goal3_Goodhealthandwell-being

Goal4_Qualityeducation

Goal5_Genderequality

Goal6_Cleanwaterandsanitation

Goal7_Affordableandcleanenergy

Goal8_Decentworkandeconomicgrowth

Goal9_Industry,innovationandinfrastructure

Goal10_Reducedinequalities

Goal11_Sustainablecitiesandcommunities

Goal12_Responsibleconsumptionandproduction

Goal13_Climateaction

1http://www.un.org/esa/ffd/wp-content/uploads/2015/08/AAAA_Outcome.pdf

2DetailedSDGsavailableathttp://www.un.org/ga/search/view_doc.asp?symbol=A/RES/70/1&Lang=E

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Goal14_Lifebelowwater

Goal15_Lifeonland

Goal16_Peace,justiceandstronginstitutions

Goal17_Partnershipsforthegoals

Thegoalsareaimedataddressing theeconomic, social andenvironmental challengesfacingtheearthusingasetofprioritiesandaspirationstobeachievedby2030throughpartnerships between governments, businesses and civil society (United Nations,2015a).

TheBotswanaStockExchange (BSE)hasvoluntarilycommitted itself toachieving thedevelopment goals “through dialogue with investors, companies and regulators, topromoting long-term sustainable investment and improved environmental, social andcorporate governance disclosure and performance among companies listed on theexchange”3. It also subscribes to the Marrakech Pledge on Climate and SustainableDevelopment, which is a “commitment by all African CapitalMarkets Regulators andExchanges to act collectively in favor of sustainable development by enabling theestablishmentofGreenCapitalMarkets inAfrica”4.Thisstemmed fromtheNovember2016 Marrakech Action Proclamation where Africa’s heads of state recommittedthemselvestotheaspirationsofsustainabledevelopment5.

The United Nations Development Programme (UNDP) and the Botswana StockExchange (BSE) have, therefore, commissioned this short research to determine theoverallstateofsustainabilitypracticesamongBSE-listedcompanies.Thefindingsoftheresearch will provide the starting point and help identify the issues to focus on insubsequent engagementswith theprivate sectoron sustainabledevelopment and theSDGs. They will also guide the development of sustainability principles that listedcompaniescanadoptandusetopromotesustainabilityperformanceandtransparencyinthecapitalmarket.TheseactivitiesandprocesseswillcontributetotheBSEfulfillingits commitments towards the SSEI and the Marrakech Pledge, while also helpingBotswana to implement the SDGs and realising its national Vision 2036 (AchievingProsperityforAll).

The report structure comprises the background which describes the role of stockexchanges in driving sustainability issues; the approach adopted for the profiling

3BSElettertoUNSecretaryGeneral.“SustainableStockExchanges:VoluntaryCommitmenttopromotesustainabilityperformanceandtransparencyinCapitalMarkets”

4http://marrakechpledge.com/(refertoobjectives)

5https://unfccc.int/files/meetings/marrakech_nov_2016/application/pdf/marrakech_action_proclamation.pdf

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exercise; profiling of individual companies by listing category; and a synthesis of thegeneralsustainabilitylandscapeforBSElistedcompanies.

1.1BACKGROUND:STOCKEXCHANGESANDSUSTAINABILITY

Stock exchanges play a critical role as change agents that catalyse the uptake of newproducts in response to market demand. They are also responsible for providingorderly and fairmarket operations, and can contribute to thebroaderprinciples thatfacilitatethecreationofsustainable,transparentandinclusivemarkets.TheSustainableStockExchange(SSE)initiativehasbeenworkingwithstockexchangestodevelopmoresustainablecapitalmarketssince20096.

Eventhoughsustainabledevelopmentgoalsaresometimesperceived“nonfinancial”or“extra financial” they have extra implications for companies depending on howcompanies manage them. Adoption of sustainability practices by companies boostbusiness operations in terms of access to capital; cost savings and productivity; riskmarket; revenue growth and market access; brand value and reputation; license toincrease operations; human capital; employee retention and recruitment; companyvalueasanacquisitiontarget;andtheabilitytoacquireotherhighqualitycompanies7.TheSSE initiativehas identified five targetsunder theSDGs that stockexchanges arewell positioned to support as depicted in Table 1 8 .

6http://unctad.org/en/PublicationsLibrary/unctad_sse_2016d1.pdf

7http://www.sseinitiative.org/wp-content/uploads/2015/09/SSE-Model-Guidance-on-Reporting-ESG.pdf

8http://unctad.org/en/PublicationsLibrary/unctad_sse_2016d1.pdf

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Table1:SSErecommendedSDGsandtargetsforadoptionbystockexchanges

SustainableDevelopmentGoal Target

5:Genderequality 5.5:Ensurewomen’sfullandeffectiveparticipationandequalopportunitiesforleadershipatalllevelsofdecision-makinginpolitical,economicandpubliclife.

8:Decentworkandeconomicgrowth 8.3: Promote development-oriented policies that support activities, decent job creation,entrepreneurship,creativityandinnovation,andencouragetheformalisationandgrowthofmicro,smallandmediumsizeenterprises,includingaccesstofinancialservices

12: Responsible consumption andproduction

12.6: Encourage companies to adopt sustainable practices and integrate sustainabilityinformationintotheirreportingcycle.

13:Climateaction 13.3.: Improve education, awareness raising and human and institutional capacity onclimatechangemitigation,adaptation,impactreductionandearlywarning.

17:Partnershipsforthegoals 17.6: Enhance the global partnerships for sustainabledevelopmentbymulti-stakeholderpartnerships that mobilise and share knowledge, expertise, technologies and financialresources to support the achievement of sustainable development goals in all countries,particularlydevelopingcountries

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Goal 5, target 5.5: Promoting gender inclusiveness means that private sector shouldexplore ways to enhance the leadership skills of women in the capital market. For

instance, gender neutral boards and workforce have been found to deliver higher

productivity,betterorganisationaleffectivenessandcorporatevalue.Someoftheareas

inwhich national stock exchanges could influence this sustainable development goal

and targets include thepromotionofwomenasconsumersandbusiness leaders;and

entrepreneurstotransformtheglobaleconomybysupportingjobcreation,raisingper

capitaincomeandpromotingsustainabledevelopment.

Goal 8, target 8.3: In relation to decent work and economic growth, the focus is onsupportingsmallandmediumenterprises(SMEs)forjobcreation,economicgrowthin

the quest for advancing development, creating stable societies and reducing poverty.

SMEs have limited access to finance,whichmeans that stock exchanges could aim to

advancethisgoalthroughtrainingSMEmanagement,supportingsocialenterprisesand

investinginlonglastingimpactinitiatives.

Goal 12, target 12.6: Stock exchanges can facilitate responsible consumption andproduction, through reporting requirements that cover long term value generation,Environment, Social and Governance (ESG) issues as well as specific financial

information.

Goal13,target13.3:Greenfinanceandclimaterelateddisclosurearesomeoftheways

in which national stock exchanges can promote sustainability and climate solutions.

Thisenhancestheroleplayedbytheexchangesinequityanddebtmarketsthroughthe

introduction of climate aligned financial products and tools that have grown out of

environmental targets set by national governments, alongside the growing

understanding of the challenges and opportunities that climate change poses to

investorsandtherecognitionthatlargesumsofprivatecapitalwillbeneededtomeet

theworld’sclimategoals.

Goal 17, Target 17.6: Partnershipspromote multidisciplinary and innovation for theachievement of the 17 SDGs. Stock exchanges are, therefore, critical in mobilising

knowledge, expertise, technologies and financial resources among their listed

companies.

Considering that national stock exchanges differ as are the markets in which they

operate,thedifferentgoalsandtargetsapplydifferentlytothestockexchangesofeach

country. The ones discussed above are just the minimum goals and targets being

promotedbytheglobalSSE.Individualstockexchangescandecidetoaddmorethatare

relevanttotheirmarketcontext.

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1.2OVERVIEWOFTHEBOTSWANASTOCKEXCHANGE

The Botswana Stock Exchange was established in 1989 with the responsibility to

operateandregulatetheequityandfixedinterestsecuritiesmarket(BSE,2017).Ithas

sincegrowntobethe3rdlargeststockexchangeinsouthernAfricaintermsofmarket

capitalization. The products that can be listed include equities, corporate bonds,

governmentbondsandexchange tradedproducts9.TheBSE’svision is tobe “aworld

class securities exchange delivering innovative products and services”. As such, the

bourse’smission is “todrivesustainableeconomicgrowthbyprovidingagateway for

raising capital and accessing investment opportunities”. These will be achieved by

upholding the values of innovation, integrity, sustainability, efficiency, commercial

focus,andteamwork.Table2presentsthe24domesticcompaniesthatwerelistedwith

theBSEatthetimeofthestudy.

Table2:BSElisteddomesticcompanies

Category Domesticcompany

Non-bankingfinancial

servicesandinsurance

- BotswanaInsuranceHoldingLimited

- LetshegoHoldingsLimited

- AfinitasLimited

Retail&wholesaling - ChoppiesEnterprisesLimited

- SechabaBreweriesHoldingsLimited

- SefalanaHoldingCompanyLimited

- FurnmartLimited

- OlympiaCapitalCorporation(Botswana)Limited

Property&propertytrust - PrimeTimePropertyHoldingsLimited

- RDCPropertiesLimited

- LetloleLaRonaLimited

- NewAfricanPropertiesLimited

- ThefarPropertyCompanyLimited

- TurnstarHoldingsLimited

Banking - BarclaysBankofBotswanaLimited

- FirstNationalBankBotswanaLimited

- StandardCharteredBotswanaLimited

SecurityServices - G4SBotswanaLimited

Tourism - CrestaMarakaneloLimited

- ChobeHoldingsServices

9http://www.bse.co.bw/abt_us/role_in_botswana.php

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- WildernessHoldingsLimited

Energy - EngenBotswanaLimited

ICT - BotswanaTelecommunicationsCorporationLimited

Mining&Material - MinergyLimited

Inadditiontothedomesticcompanies,atthetimeoftheresearch,therewere15foreign

companieslistedontheBSE,withsixonthemainboard,fiveventurecapitalcompanies

andfourexchangetradedfunds.Thisstudyfocusesonthedomesticcompaniesonly.

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2.0APPROACHTOPROFILINGSUSTAINABILITYPRACTICESOF

BSE-LISTEDCOMPANIES

Thisstudysoughttoprovideanoverviewofhowthedifferentcompanieslistedonthe

BSE are addressing the different dimensions of sustainable development

(environmental,socialandgovernance)asabasisforsustainability.Inordertoprofile

company sustainability practices, a best practice reference list (Table 3) was

constructedbasedonexistingglobalpractices10whichwerecustomisedforBotswanain

collaboration with the UNDP, BSE the Ministry of Environment Natural Resources

Conservation and Tourism, the University of Botswana and the Secretariat of the

GaboroneDeclarationforSustainabilityinAfrica(GDSA).

10Adoptedfromhttps://www.theguardian.com/sustainable-business/blog/best-practices-

sustainability-us-corporations-ceres;

https://www.ceres.org/sites/default/files/2017-

05/Ceres_Roadmap_for_Sustainability_2010.pdf;Letsholo(undated);www.humanrights.dk/sdg-guide

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Table3:Referencelistofsustainabilitypractices

Sustainabilityaspect

Referencepractices Checklist

Environmental Investment in sustainable productsandservices

ü In-housewastereductionandpollutionpreventionmechanisms

Innovation ü Technology solutions that address sustainable developmentchallengesine.g.waste,water,energy

Transportation ü Useoffuelefficientvehiclefleets.

Buildingsandfacilities ü Designandconstructionofenvironmentallysustainablebuildings

Design

ü Integration of alternative, recycled, and recyclable materials inproductionandpackagingdesign

Certification/EnvironmentalManagementSystems

ü ISOcertification

Supplychainmanagement ü Sustainablyproducedorharvestedinputsorrawmaterials

Social Partnershipswithcommunities ü Settingasidetimeforcommunityprojectsü Faircompensationforsuppliercommunitiesü Partnershipswithresearchinstitutions,schoolsetc.

Investmentinsustainabilityprojects ü Grantstoenvironmentalgroups

Investordialogue ü Engaging local communities in order to accelerate investment insustainablelivelihoods,e.g.farming

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Humanrights ü Combatinginequalitiesanddiscrimination

Investment in employee/communitysocialwelfare

ü Employeeeducationü Genderbalanceü Safetyandhealth

Nationalaspirations ü Contribution to nationally defined development targets e.g. povertyeradicationpoverty.

Corporategovernance

Reporting

ü Integration of social, financial, and environmental goals in annualreports

ü OrSeparatesustainabilityreporting

Support to teams or individualsfacilitating sustainability in thecompany

ü Environmentalchampions/greenteams

Employeeengagement

ü Employeeeducation/awarenessonsustainabilityissues

Stakeholderengagement

ü Presentation of the company sustainability strategy and goals inannualgeneralmeetings.

Supplychainmanagement

ü Working with suppliers to establish GHG emissions reductions andenergyefficiencytargets

Management accountability andexecutivecompensation

ü Holding Management accountable to sustainability and rewardedgoodsustainabilityperformance

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Policies,plansandprogrammes(PPPs)

ü InclusionofsustainabilityaspectsincompanyPPPs.

Disclosure

ü Transparencyintheuseofenvironmentsensitiveinputs

Adoption of SDGs/sustainabledevelopment

ü PrioritySDGsthatthecompanyfocuseson

Incentivisingemployees ü Rewardingsafetyandenvironmentalstewardship

Ownershipofsustainabilityprinciples ü Boardlevelleadershiponsustainabilityü Seniormanagementleadershiponsustainability

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A questionnaire, accompanied by the checklist, was distributed to all domestic listedcompanies to elicit specific information on the ESG practices and issues they arecurrently pursuing. Eleven companies responded to the questionnaire (see Table 4).The profiling of companies that did not respond to the questionnaire was thereforebasedonsecondaryinformationpubliclyavailableontheirwebsitesandintheirannualreports(wherethesecouldbefound).

Compilation of individual company sustainability profiles was, therefore, based onassessing each company’s information received from the survey questionnaire, theirreports as well as other relevant documents, against the sustainability practicereferencelistinTable3.

Table4:Companiesthatrespondedtothequestionnaire

Category BSElisteddomesticcompany

Financial services andinsurance

- LetshegoHoldingsLimited- BotswanaInsuranceHoldingLimited

Retail&wholesailing - SechabaBreweriesHoldingsLimited- SefalanaHoldingCompanyLimited

Property&propertytrust - RDCPropertiesLimited- PrimeTimePropertyHoldingsLimited

Banking - BarclaysBankofBotswanaLimited- FirstNationalBankBotswanaLimited

Tourism - CrestaMarakaneloLimited

Energy - EngenBotswanaLimited

ICT - BotswanaTelecommunicationsCorporationLimited

The profile for each company covers its overall business focus in terms of its vision,mission,valuesorgoalswhere this information isavailable, thesocial, environmentalandgovernancepracticesandproposedareasforfurtherimprovement.

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3.0SUSTAINABILITYPRACTICESINBSELISTEDCOMPANIES

3.1CATEGORY1:NON-BANKINGFINANCIALSERVICESANDINSURANCESECTOR

Finance and Investmenthavebeen recognised as someof the keybuildingblocks forrealising sustainable development in Botswana (Chambwera, 2016). According to theUN Global Compact (UNGC) and KPMG (2017), the financial services sector supportsimproved economic wellbeing and hence provides opportunities for advancing SDGspremised on access and investment11. Furthermore the sector could achieve this byaidingaccess to securepaymentandremittance factors, savings, creditand insurancethusfacilitatingfinancialinclusionforindividuals(SDG1,2-4and10),SME(SDG5and8)andgovernments(SDG13).Ontheotherhandinvestmentmayentailfinancingandinsuring renewable energy (SDG 7, 13) and other sustainable and resilientinfrastructure projects (SDGs 6 and 9). Some of the ESG issues relevant for the non-bankingfinancialservicesandinsurancesectoraredepictedinfigure112.

Figure1:InsuranceindustryandSDGs(adaptedfromBacani(2015))

Botswana InsuranceHoldingLimited,LetshegoHoldingsLimitedandAfinitasLimitedare the three companies which fall under the Non-banking Financial Services and

11https://home.kpmg.com/content/dam/kpmg/xx/pdf/2017/05/sdg-financial-services.pdf

12https://www.iisd.org/sites/default/files/publications/greening-chinas-financial-system-chapter-9.pdf

Environment•Climatechangeandextremeweatherevents•Naturaldisasters•Biodiversitylossandecosystemdegradation•Waterscarcity•Foodinsecurity•Environmentalpollution

Social•Violationofhumanrights•Socialinequality&financialinclusion•Emerginghealthrisksandpandemics•Agingpopulationsanddemographicchange

Governance•Technologicalrisksincludingbigdata•Accountabilityandtransparencyissues•Unethicalbusinessconduct•Corruption•Unfairtreatmentofcustomers

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Insurance sector category of BSE listed companies. Their sustainability profiles arepresentedbelow.

3.1.1BOTSWANAINSURANCEHOLDINGSLIMITED

BotswanaInsuranceHoldingsLimited(BIHL)isabroad-basedfinancialservicesgroupand one of the largest companies listed on the BSE. The group consists somesubsidiaries, which include Bifm, Botswana Life, and Legal Guard. Its core businesscompriseslifeinsurance,assetmanagementandshortterminsurance13.

3.1.1.1 COMPANY VISION, MISSION, VALUES, STRATEGIC FOCUS ANDSUSTAINABILITYCOMMITMENT.

BIHLaspirestobetheleadingregionalfinancialservicesproviderthroughoptimisationof the Group’s collective strength. The company’s mission is thus to collaborate forinnovative growth, optimise efficiency and provide the right financial solutions toindividualand institutional clients.Thesesolutions include insurance, investmentandemployee benefits. This will be achieved by upholding values such as Support &Collaboration; Accountability; Upholding ethical standard; Innovativeness; andAuthenticity.

3.1.1.2KEYELEMENTSOFTHECOMPANY’SSUSTAINABILITYPROGRAM

TheBIHL2016annual report clearlyoutlinesBHIL’s commitment to sustainability. Itstates:“Forus,sustainabilityisengrainedintotheverywayinwhichweapproachourbusiness andour engagementwithourpeople, our community andour environment.Everythingwedoisgroundedinaferventdesiretoensureweremain“sustainable.”…Simplyput: tobe trulysustainable,BIHLhas to takeaccountof the threePs -People,ProfitandPlanet.”(BIHL,2016,p.70-71).

Environmentalsustainability

The key elements in the environmental sustainability component include: wastereduction through better printing techniques and newspaper recycling; water andenergyefficiency.Newspapersarecollectedandthendonatedtoagroupofwomeninavillage40kmfromGaborone,whointurnusethemtomakeflowerpots,whicharesoldtogenerateincome.Toaddresswaterandenergyefficiency,recycledwaterisusedforgardeningwhile thecompanyhas invested in lowenergyusage lights,andemployeesareencouragedtoswitchofflightswhennotinuse.

13https://www.bihl.co.bw/sites/default/files/documents/BIHL%20AR%202016%20RGB%20web%20version%20.pdf

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Socialaspectsofsustainability

Theoutstandingelementsofthesocialcomponentofsustainabilityincludecommunityengagement, education and training, contribution to national aspirations, as well asinvestment insustainabilityprojects.Onepercentofshareholderprofits is invested incommunityprojects,whichincludeeducation,socialupliftment,povertyalleviationandsports development. Specific examples of such projects include the development of acommunity hall in Gamodubu village located on the outskirts of Gaborone and theconstruction of six houses for the disadvantaged in various parts of the country.Focusingoneducationand training,BIHLhasa literacyprogramme inwhichprimaryschool teachers are re-trained on efficient methods of primary school teaching inreading skills based on a pupil’s age and grade/standard. Furthermore, the companyoffers a graduate scholarship program dubbed Prof Thomas Tlou Scholarshipprogramme. Inaddition,BIHLhas invested in theMaru-A-PulaSchoolOrphanageandVulnerableChildrenFund,whereunderprivilegedchildrenareaffordedtheopportunityto study in the prestigious Maruapula Secondary School and universities such asPrincetonUniversity. The company has also contributed to the national aspiration ofpoverty eradication through the construction of ten houses in support of thePresidentialHousingAppeal.Fivemorehousesareexpectedtobeconstructedin2018.

Corporategovernance

In its bid to achieve corporate governance, themain sustainability practices at BHILinclude reporting, stakeholder engagement andownership of sustainability principlesby management. The BIHL covers sustainability in its reporting system (see, forexample,the2016annualreport).Thereportstatesthatthecompanyalsoengageditssubsidiaries inaprogrammeaimedatefficientuseofpowerandwater.This initiativealsoshowsownershipleadershiponsustainabilityissuesbytheboard.

A summary of how the BIHL Group and its subsidiaries advances the differentdimensionsofsustainabilityisgiveninfigure2.

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Figure2:BHILsustainabilitypractices

3.1.1.3 POTENTIAL AREAS FOR FURTHER IMPROVEMENT AND FUTUREPROSPECTS

The findings from the questionnaire survey and review of BIHL 2016 annual reportshow that BIHL fully appreciates the sustainability concept. Some avenues throughwhichthecompanycouldenhanceitspursuitinthisendeavourincludebutnotlimitedto:

1. Thomas Tlou Scholarship Programme: currently this is meant for variousgraduate programmes. The BIHL could make a deliberate effort to channel ittowards developing capacity on how the insurance industry could directlyimpactsustainabledevelopment.

2. Sustainabilitybudget:thecompanyhasmadeaconsciousefforttosetasideonepercentofitsoperatingprofittowardsCorporateSocialInvestment(CSI)whichtouches on only one aspect of sustainability, social sustainability. Similarly adefined percentage could be ear-marked for investment in environmentalsustainability projects where grants are awarded to environmental groups toaddressclimatechangeandextremeweatherevents likenaturaldisasters (e.g.flooding), biodiversity loss and ecosystem degradation, water scarcity, foodinsecurity,environmentalpollution.

3. Considering the escalating cases of gender based violence, the company couldalsocomeupwithaproducttargetingwomenwhobecomevictimsofdomesticviolence,rapeetc.

Environment•Greywaterforgardening•Papersavingprintingtechniques•Environmetalimpactassesmentsfornewdevelopmentprojects•Newspaperrecyclingforartefacts.

Social•Developmentprojects/infrastructure•Literacy/capacitybuildingprogramsforteachersandstudents•Graduatescholarshipprogramme•Secondary&terciaryeducationplacementsinprestigiousinstitutionsfordeservingunderpreviledgedchildren•Provisionofsheltertotheunderpreviledged

Governance

•Integrationofsustainabilityinannualreport•Stakeholderengagement

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3.1.2LETSHEGOHOLDINGSLIMITED

LetshegoHoldingsLimited(LHL) is amicrofinance institutionoperating inBotswana,Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Swaziland, TanzaniaandUganda.

3.1.2.1 COMPANY VISION, MISSION, VALUES, STRATEGIC FOCUS ANDSUSTAINABILITYCOMMITMENT

LetshegoisamicrofinanceinstitutionwhichaspirestocreateAfrica’sleadinginclusivefinance group, achieving a clear strategic vision for pan-African growth and broad-based diversification while focusing on social impact through inclusive finance. ThecompanyisanchoredonvaluescaptionedasSimple,Appropriate,andAccessible.



Areviewofthecompanyannualreportandquestionnaireresponsehasshownthattheenvironment component of sustainability at Letshego is addressed mainly throughinvestment in sustainable products and service as well as financial literacy. Thecompany iscurrently investigatingmeasures to track initiatives implementedbytheircustomers in selected sectors with the aim of educating customers on alternativesolutionswhichmake their businessmore resilient to process input costs, aswell asenvironmentalforcessuchasclimatechange.


Letshego’s social aspectof sustainabilityemphasiseson investordialogue, investmentinemployee/communitysocialwelfareandhumanrights.Throughthe“ImprovingLifecampaign”, customer stories and data are sought for the purpose of collating keysustainability indicators that would be used to inform financial solutions as well asrewardingcustomersthatuseloansforproductiveandprofitablepurposesratherthanforconsumptiveones.ThefinancialliteracyprogrammesontheotherhandwasdoneincollaborationwiththeBotswanaDirectorateofPublicServiceManagementtoconductfinancial literacy workshops for government employees. Letshego’s Health CareInnovation programme targets prevention, diagnosis and management of non-communicable diseases (NCDs) in low resource settings, which address the need forpatientaccesstocare,qualityandconsistencyofserviceaswellascontinuingmedicaleducation of health workers. To protect its clients from over-indebtedness, Letshegohas aligned its customerprotectionpolicieswith international best practices, such asthe Smart Campaign Client Protection Principles to promote responsible and ethicallending.

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Corporategovernance

The key elements of corporate governance and sustainability include employeeengagement, policies, plans andprogrammes, aswell as reporting. Letshegokeeps itsemployees abreast of industry innovations, as well as process and support areas toensurethatnewsolutionscanbeaccuratelydescribedtocustomers.In2015,Letshegoinitiatedaprocessofmapping itsESG impact frameworksandcredentials inorder toembed these philosophies and frameworks into business-as-usual operations. Thecompany’s independentSocialandEnvironmentalDueDiligencereport indicatedhighlevels of conformance with globally accepted frameworks including the UN GlobalCompactat97%andtheUNEnvironmentalProgrammeStatementofCommitmentbyFinancial Institutions to Sustainable Development, at 85%. The company is currentlyupdating its Social and Environmental Management System (SEMS) and its datamanagementsysteminordertoderivemaximumvaluefromthesystem.Furthermore,the company has instituted a social impact scorecard against which it monitors andmeasuresitsperformancebeyondtrackingNetPromoterScores,customersatisfactionlevels,andamountspentonCorporateSocialInvestment(CSI)initiatives.

Sustainability is an integral part of reporting at Letshego with a focus on strategy,performance, operations, governance, and progress reporting in line with the BSEListingRequirements aswell asKing IV,GRI, and IIRC reporting guidelines. Letshegohas aGroupSustainabilityCommittee (GSC),whichmanages sustainability issues likeefficiency of the sustainability framework, annual review of sustainability policies,procedures and practices for improvement, implementation of [the] social andenvironmentalmanagementsystem,andassociatedpoliciesandprocedurestomonitor,report and remediate thegroup’sESGcredentials. Figure3 summarises sustainabilitypracticesobservedatLetshego.

Figure3.KeysustainabilitypracticesatLetshego

Environment•Researchonclientprojectstoadviceonmakingthemresilient.

Social•Developingindicatorstoinformsustainablefinancialsolutions.•Employeeawarenessprogramsonhealthissues.•Promotionofaccessibilitytohealthcare.•Adoptionofstrategiesthatpromoteresponsiblelending.

Governance•Sustainabilitymapping/duedeligence.•Updatingthesocial&environmentalmanagementsystem.•Sustainabilityformspartoftheannualreporting.• GroupSustainabilityCommitteeresponsibleformanagementsustainabilitymatters.

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Letshego’soperationsshowthatthecompanyembracessustainability,eventhoughthecompany’s business operations have limited direct impact on the environment.Morecouldstillbeconsideredbythecompanyinthefollowingareas:

1. In-houseinvestmentinsustainableproductsandservicessuchasin-housewastereduction and energy efficiency. This can be achieved through the spirit ofvolunteerismthatexistsinthecompanyintermsoftheproductsitoffers.

2. Prioritiseandpromotefinancingofgreenprojects:currentlythisisnotaspecificareaforthecompanybutcouldofferanopportunitythroughcreatingincentivesfor its clientele in the agriculture and housing sectors. For instance, farmerscould be charged lower interest rates if they demonstrate certain aspects ofconservation/climatesmartagriculture.Thisisinlinewiththecompany’saimtoeducateitscustomersonalternativesolutionswhichmaketheirbusinessmoreresilient.

3. Striking a ‘balance’ between all components of sustainability. That is,sustainability reporting should ideally cover all aspects of sustainability beingenvironmental, social and corporate governance. This could be leveragedthrough the company’s planned upgrading of the Social and EnvironmentalManagement System. The system should be able to provide required ESGinformationforreportingpurposes.

3.1.3AFINITASLIMITED

A 2015 pan African investment holding company that provides seed capital anddevelops new Africa focused businesses made up of some investee companies thatincludeAfricaEventsLimited(whichfocusesoninvestmentorientedevents);EthiopiaInvestmentsLimited(EIL)(whichownsanddevelopsnewbusinessesinEthiopia)andAdventisLimited(whichisanAfricanfocusedFinancialServicesCompany)14.

Thecompanydidnotparticipateinthestudyandnofurtherinformationwasavailableas regards the study. This does not suggest that the company is not pursuing anysustainabilitypracticesinitsoperations.

14

http://www.afinitas.co/sites/default/files/documents/170529%20AFINITAS%20Annual%20Report%202016.pdf

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3.2CATEGORY2:RETAILANDWHOLESALINGSECTOR

Theretailandwholesalingsectoroperatesattheinterfacebetweensuppliersofgoodsandservicesononehand,andconsumersontheother,providingthemwithauniqueopportunity to shape sustainability along the value chain upstream and downstream.Majorassociation-basedretailentitiessuchastheUnitedStates’RetailIndustryLeadersAssociation(RILA)andtheCentre forRetailCompliance(CRC)advocate for improvedperformanceinsustainabilitypracticesthattargetthesupplychain,productattributesandbusinesspractices(RILA&CRCIssuebrief,undated15).AccordingtotheIssueBrief,the sustainability issues in the retail supply chain are thus centred on purchasingpolicies, supplier training, social compliance, tracing the supply chain, and efficienttransportation.Thebriefpurports thatproduct attributeson theotherhand focusonproduct take-back, sale of certified sustainable products, and nutritional content ofproducts. Furthermore, business practices target employee engagement, sustainableinnovation,andgreenbuildings.Thebrieffurtheroutlinessomespecificissuessuchasenergy and carbon reduction, waste generation, water usage, and sustainableingredientspackaging.

The five domestic BSE listed companies in this category are Choppies EnterpriseLimited,SechabaBerewariesHoldingsLimited,SefalanaHoldingsCompanyLimitedandOlympiaCapitalCorporation(Botswana)Limited.Thesearediscussedbelow.

3.2.1CHOPPIESENTERPRISESLIMITED

Choppies is a leading supermarket chain established in Botswana in 2006 and laterexpandeditsoperationstoSouthAfrica,Zimbabwe,Kenya,ZambiaandTanzania16. Itsretail specialty includes leading international foodbrandsandFastMovingConsumerGoods(FMCG)17.

3.2.1.1 VISION, MISSION, VALUES, STRATEGIC FOCUS AND SUSTAINABILITYCOMMITMENT

Choppies endeavours to be the best service provider in sub-Saharan Africa (SSA) forFMCG. The report affirms that the company aims to achieve this by being a strongresponsiveproviderofconsumergoodsataffordableprices;givingcustomersthebestvalue for their money; bringing products to semi-urban and rural areas; generatingsustainableeconomicdevelopmentbysupportinglocalbusinessesandfarmersaswell

15http://www.retailcrc.org/sustainability/Lists/Briefings/Attachments/13/RILA%20Issue%20Brief%20-%20Set%20Sustainability%20Goals%20in%20Retail.pdf

16http://choppies.co.za/Investor-Portal/wp-content/uploads/2015/05/Choppies-AR_2016.pdf

17http://choppies.co.bw/our-history

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ascorevaluecreationinthesociety;creatingnewjobsanddevelopingallemployeestotheir highest potential in addition to ensuring proper skills transfer to the localworkforce.


Environmentsustainability

Thekeysustainability issues(extractedfromthecompany2016annualreport)underthe environment component of sustainability include transportation (which entails aformal transportation efficiency and fleetmanagement system aimed at reducing thecompany’s carbon footprint); supply chain management (in which environmentalperformance isoneof the factorsconsideredby thecompany forselectingsuppliers);investment in sustainable products and services (comprising waste recycling, use ofenergysavinglightsinstores,useofproductsthatuserecyclablepackaging,electroniccontrolsystemforrefrigeration,establishedprocessesandsystemsthatreduceenergyconsumption).Examplesofsustainabilityprojectsimplementedbythecompanyincludenatural resources conservation initiatives,which are achieved through the funding ofcivilsocietygroupssuchastheKalahariConservationSociety.

SocialaspectsofsustainabilityThemostprominentsocialaspectsfoundinthe2016reportandthecompanywebsiteare to do with investment in community social welfare, investment in sustainabilityprojects, human rights and national aspirations. Investment in community socialwelfareconstitutesanumberof communitydevelopmentprogrammes in theareasofhealth, educationand social services. For instance, the companypromoteshealth andwellness by donating wheel chairs, partnering with health associations in cancerprevention as well as advocacy against the use of tobacco and substance abuse.Choppies also invests in education by empowering youth, societies and institutions.Throughthe‘AReIthutengBook’drive,Choppiescollectsbooksfromthegeneralpublicand ultimately donates them to schools in Botswana. The retail chain store alsoprovides food stuffs to the underprivileged. Choppies promotes human rights andindiscrimination through its People Living with Disabilities (PWDs) empowermentpolicy, which enhances the employment of people with disabilities. The companysupportsnational aspirations suchas thePresidentialHousing Initiativebyprovidingdecenthousing to theunderprivileged. Italsocontributes to the invaluablepeaceandtranquillityofBotswanabysupportingnationalsecurityforcesintheiroperations(e.g.provisionof foodstuffs). In itsbid toenhance foodsecurity,ChoppieshasestablishedstrongpartnershipswithfarmingcommunitiesinBotswana(TuliBlock,Kgatleng)withaviewtoincreasingtheproductionofagriculturalproduce.Corporategovernance

CorporateGovernanceatChoppiesisflaggedbypracticeswhichincludeintegrationofsustainability issues in the annual reports; employee engagement through a training

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programmetoraiseawarenessofenvironmentalissues,incentivisingstafftoencourageareductioninwastageandrewardingexcellenceinthekeyperformanceareassuchasgrossprofit,safety,health,environmentandstockcontrols.Supplychainmanagementis also upheld by encouraging suppliers to adopt similar sustainability ethics. Thesustainabilitypracticesaresummarisedinfigure4.

Figure4:KeysustainabilitypracticesatChoppies


ThecompanyhasestablishedaSocialandEthicsCommitteeforitsoperationsinSouthAfrica as a listing requirement by the Johannesburg Stock Exchange. By adopting asimilar approach in Botswana, the company’s sustainability performance could beboosted. Other practical actions practiced by other leading retail stores globally thatChoppies could consider include the incorporationof ‘smart’ packaging that indicateswhenproducts(e.g.meatproducts)spoilorexpire therebyallowingthecustomers tousefoodproductsthroughtheirfullshelf life;reducewastebyrequiringcustomerstobring their own recycled packagingmaterials i.e. one of their stores could be free ofpackaging(seeUnitedNationsGlobalCompact(UNGC),2017)

Environment•Fleetmanagementtoreducecarbonfootprint.•Energysavinglights.•Electroniccontrolsystemforrefridgeration.•Recyclablepackaging.•Environmentalfinancing.

Social•Healthwellnesspartnershipsagainstcanceretc.•Advocacyagainsttobacco&substanceabuse.•Schoolssupport.•Provisionoffoodstuffsforlesspreviledgedmembersofthecommunity.•Employmentpolicyforpeoplelivingwithdisabilities.•Provisionofhousingtotheneedy.•Partnershipswithfarmingcommunitiestoenhancefoodsecurity.

Governance•Environmentalsustainabilityconsidredinselectionofsuppliers.•Sustainabilityintegratedinannualreport.•Environmentalawarenessforemployees.•Rewarding/incentivisingexcellenceonsustainabilityissues.•Encouragessustainabilitypracticesinsupplychain.

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3.2.2SECHABABREWERIESHOLDINGSLIMITED

SechabaBreweriesHoldingsLimited(SBHL)isdescribedinits2016AnnualReport18as“an investment company with interests in Kgalagadi Breweries (Pty) Ltd (KBL) andBotswanaBreweries(Pty)Ltd(BBL)”(SBHL,2016,p.3).


The annual report clearly states that sustainable development is fundamental to thesuccess of the business. Consequently, the company has recently aligned itsenvironmental,socialandcommunityeffortsaroundthreecoreprinciplesasfollows:agrowing world, where everyone has the opportunity to improve their livelihood; acleanerworld,wherenaturalresourcesareaccessibleandsafe forall;andahealthierworld,whereeveryexperiencewithbeerisapositiveone,forliveswelllived.


Sustainableenvironment

TheSBHL2016reportstatesthatsupplychainmanagementisadvancedbyinvestinginlocal suppliers, that is, sourcing rawmaterials from local suppliers and encouragingtheminturntosourcetheirownrawmaterialsusingethicalandresponsiblepracticesthatpromoteenvironmentalprotectionandconservation.


The company’s 2016 annual report purports that partnerships have been establishedwith relevant stakeholdersworking in the company’s priority areas. Examples of thepartners are government, NGOs, academic institutions and suppliers enabling thecompanytomakeadifferenceinlocalcommunities.

Corporategovernance

SBHL has adopted sustainability reporting in its annual report. The company 2016annual report asserts that SBHL has adopted SDGs driven by the following pillars: agrowingworld,acleanerworldahealthierworld.Specifically,thecompanywillpursueitsBetterWorld Strategy focusingon SDGs35-8, 12-13 and17. SBHLhas inculcatedsustainability in its Policies, Plans and Programs (PPPs) bymeasuring its sustainabledevelopment performance using the Sustainability Assessment Matrix. Nonetheless,

18http://www.bse.co.bw/docs/280617%20Sechaba%20Annual%20Report%202016-compressed.pdf

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thereareplanstoreplace itwithamoreeffectivesystemknownasABInBev’sBetterWorldframework.Thereportfurtherrevealsthatthecompanyaccomplishesdisclosureand transparency by acknowledging the social sensitivity of some of its productsthroughtheIkgalemeleConsumerResponsibilityProgram,whichpromotesresponsibleuse of alcoholic beverages. The company’s sustainability landscape is summarised infigure5.

Figure5KeysustainabilityelementsatSBHL


Opportunities for improvement for Sechaba lie in its endeavour to measure itssustainabilityperformance.Thiswillprovidethecompanywithinformationonthegapsforcontinuousimprovement.

3.2.3SEFALANAHOLDINGSCOMPANYLIMITED

Sefalana Holdings Company Limited (SHCL)’s 2016 Annual Report19describes thecompany as the only domestic BSE listed companywithout a controlling shareholder

19http://www.bse.co.bw/docs/031017%20Sefalana%20Annual%20Report%202017_BSE.pdf

Environment•Investmentinlocalsuppliers•Encouragingsupplierstoembraceresponsiblesustainabilitypractices

Social•Partnershipwithcommunities

Governance•Sustainabilityintegratedinannualreport•AdoptedSDGs3,5-8,12-13and17•Measurescompany'ssustainabilityperformance•Disclosureofsensitivecontentsinproductstoprotectconsumers

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that does business in Fast Moving Consumer Goods (FMCG), property investment,motor dealership, industrial and agricultural equipment, granary and a milk plantsupplyingtheDeltaFreshMilkbrandacrossBotswana.


SHCLaspirestobe“theleadingbrandofchoiceforcustomers,employeesandcapital.”20The company’s mission is, therefore, to exceed its customer expectations throughprovisionofapleasantandaffordableexperienceinFMCG,Manufacturing,Automotive,and Property, served by highly motivated and empowered staff, delivering superiorshareholder value that exhibits profitability and sustainability. As such, the valuesembraced by the company include commitment, accountability, excellence,transparency, integrity, responsibility, innovation andBotho21. The SHCL2017 reportdescribes the Group’s sustainable development practice as anchored on responsibleconduct,maintainingethicalsupplychainmanagement,complianceandgoodcorporategovernance; developing human capital; promoting conservation and eco-friendliness;andgivingbacktothecommunity.



Sustainability is incorporated into the design of the company’s products or services,theirmanufactureordelivery,and theminimisationofwasteandpollution.SHCLhasinvestedinsustainableproductsandservicessuchasrainwaterharvesting(areservoirhas been constructed at the Head office and the water collected is used to washcompany vehicles and other amenities); use of energy saving lights to reduce carbonemissionattheHeadOffice.


Through itsCSRboardcommittee, Sefalanasupportsvarious communityprojectsandactivities focusing on developing the youth, supporting local education, promotinghealthandwellnesstoemployeesandsociety,anddevelopinghumancapital.Examplesinclude donation of laptops, computers and related equipment to the University ofBotswanaDisability Support Services IT laboratory, construction of a new laboratoryfor visually impaired students, support to breast cancer awareness campaigns andprincipalsponsorfortheDiacoreGaboroneCityMarathon.

20www.sefalana.com

21Humanness/philosophythatpromotesthewellbeingofsocietyforthebenefitofall

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Corporategovernance

Sefalana exercises ownership of the sustainability practices and principles at boardlevelandthishasresultedinthecreationofaCSRBoardcommitteewhichaccordingtotheannual report, ensures that thecompanysupportsand invests in thewellbeingofthe economy, society and the natural environment. SHCL has established teams thatchampion, among others, sustainability practices and employee awareness/educationasillustratedintheeffortsbystafftoreducetheuseofpaper,whilepromotingtheuseofe-environment(reductionofprinting).SustainabilityreportingformsarepartoftheCSRreport.Figure6summarisesthekeysustainabilitypracticesatSefalana.

Figure6:SHCLkeysustainabilitypractices


Sefalana’s sustainability practices have enhanced its brand image, increasedproductivity of employees through the development of human capital, promotedadherence to best practice, and reduced wastage throughout the group businessactivities.Thisrealisationcouldbeleveragedthrough:

1. Measurementof carbon footprint:Thecompany is currentlyassessingvariousmethodologiesinmeasuringthecarbonfootprintofitsoperations,products,andsupplychain.

Environment•Energysavinglights.

•Rainwaterharvesting.

Social•Edicationalsupporttovulnerablegroupsi.e.PWDs.

•Cancerawareness.

•Sports.

Governance•Integratedreporting.

•Sustainabilitychampionteams.

•Boardlevelleadershiponsustainability.

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2. ThecompanyhasrolledouttheuseofsolarpowerinitsoperationsinNamibia.These could be extended to all countries in which the company operates,includingBotswana.

3. Reporting:currentlythecompany’ssustainabilityreportingisanintegralpartofthe CSR. This could be improved by interrogating global standards onsustainabilityreportingandaligningitsoperations,accordingly.

3.2.4FURNMARTLIMITED

FurnmartLimitedretailofferingentailsdomesticfurnitureandelectricalappliances.ItsstoresareinBotswana,SouthAfrica,NamibiaandZambia.


Accordingtothecompany2016AnnualReport22,thecompanystrivestobethemarketleader in retailing ‘value for money’ furniture and electrical appliances by offeringservice excellence to all its partners, customers, staff, suppliers and shareholders;valuing people and helping them to become the best; constantly adapting to marketneeds and opportunities; and working as a team and encouraging the free flow ofinformationandideas.


Thereportdidnothighlightanyoftheissuesinlinewiththereferencelistusedforthisstudy.Thecompanydidnotrespondtothequestionnaire.Thisdoesnotsuggestthatthecompanyisnotpursuinganysustainabilitypracticesinitsoperations.


Theroleof theretail sector in theachievementofSDGscannotbeoveremphasised.ApossiblestartingpointforFurnmartLimitedwouldbetheinclusionofasustainabilitycomponent in itsannual reportsas thiswouldassist thecompany tobuilda strategicfocusonsustainability.

22http://www.bse.co.bw/docs/211216-Furnmart%20Annual%20Report%202016.pdf

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3.2.5OLYMPIACAPITALCORPORATION(BOTSWANA)LIMITED

Listed in theBSEventure capitalboardanda subsidiaryof theKenyabasedOlympiaCapital Holdings Limited, Olympia Capital Corporation (Botswana) Limited is aninvestmentholdingcompanyinthebuildingmaterialindustryinSouthernAfrica23.

Thecompanydidnotparticipateinthesurveyandthe2011AnnualReportavailableonlinewasconsideredoutdatedforconsiderationinthecurrentprofilingexercise.Thisisbecausethereportmightprovidemisleadinginformationaboutthecompany’scurrentstatusregardingitssustainabilityagenda.Thisdoesnotsuggestthatthecompanyisnotpursuinganysustainabilitypracticesinitsoperations.

23http://www.bse.co.bw/listed_companies/listed.php?company=OLYMPIA

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3.3CATEGORY3:PROPERTYANDPROPERTYTRUSTSECTOR

At the global scale, the property industry continues to fulfil its role of environmentalprotection as entrenched in the sustainable development agenda. Among others, thetrend is influenced by stringent laws enacted by various national governments onbuildings and natural environment conservation; demand for indirect sustainableproperty investments by property fund managers; and the desire by prospectivetenants to acquire sustainable and energy efficient buildings 24 . Examples ofsustainability practices that the sector may apply include designing and managingbusinessparksaroundnaturalfeaturestopreservenaturalecosystems;investingintheprotection of cultural and natural heritage; designing buildings that are adaptable todifferentusesusingtechnologiestomakethebuildingsenergy(UNGC,2017).

The six BSE-listed domestic companies that fall under this category are presentedbelow. These are: Turnstar Holdings Limited, RDC Properties Limited, PrimeTimeProperty Holdings Limited, Letlole La Rona Limited, New African properties Limited,TheFarPropertyCompanyLimited.

3.3.1PRIMETIMEPROPERTYHOLDINGSLIMITED

Prime Time Property Holdings (PPHL) is a variable loan stock company with adiversifiedportfoliocomprisingoffice,retailandindustrialpropertiesinBotswanaandZambia25.


Thecompanywebsiteindicatesthatithasadoptedariskdiversificationpolicywherebyit seeks investments outside theborders ofBotswana.Other information relevant forthissectionwasnotavailable.


The company’s sustainability practices as highlighted in the questionnaire surveyresponsearediscussedbelow:

24https://epub.uni-regensburg.de/29437/6/61.pdf

25https://www.primetime.co.bw/about-prime-time.html

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Thecompanypursues investment insustainableproductsandservices throughwasteseparation,waterefficiency,recycling,etc.Aimingforcertificationingoodsustainabilitypractice,thecompanyisintheprocessofacquiringGreenBuildingAccreditationfromaSouthAfricanaccreditationbody.


Thecompanyengagesincommunitypartnershipsthroughcharityworkanddonations.It has also invested in community social welfare by establishing two outdoorgymnasiumsinGaborone.

Corporategovernance

InadditiontoPPHLsubscribingtotheGreenBuildingAccreditationconceptdiscussedin the environment subsection, the company also demonstrates ownership ofsustainability principles by subjecting its developers to undergo the accreditationprocess.Figure7summarisessustainabilitypracticesobservedatPPHL

Figure7PPHLSustainabilityPractices

Environment• Greenbuildingaccreditation.

• Wasteseparation.

• Waterrecycling&saving.

Social• Charitabledonations.

• Outdoorpublicgyms.

Governance• GreenBuildingAccreditation.

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The sustainability niche for PPHL is anchored in its green building accreditationendeavour. Accreditation would reinforce the company’s sustainability practices toenable it to assume the role of a sustainability champion in the property sector.EngagingwiththeBotswanaGreenBuildingCouncillaunchedin201626couldgoalongway in strengthening the national sustainability focus of the property sector becauseothercompaniesinthesectorwouldeventuallystrivetoalignwiththisloftyinitiative.

3.3.2RDCPROPERTIESLIMITED(RDC)

RDCPropertiesLimited(RDC)isdescribedonitswebsiteasadeveloperandpropertyinvestmentcompanywhichwasrestructuredasavariablerate loanstockbusiness in199627.


Based on the results of the questionnaire survey, the company endeavours to be adeveloper and investor in prime properties, contributing to the improvement of thequality of life in developing communities of Botswana. This is to be achieved by thecreationof longtermvaluetolinkedunitholdersthroughqualitybuildings,growthinrental income, capital appreciation and sales of properties; achievement of aboveBotswana’s market returns; and creation of partnerships with customers andlandowners.


The RDC engage in the following sustainability practices as outlined in the surveyresponse.


RDChasadoptedtheBotswanaeco-certificationsystemforitshospitalityproperty.Itsecotourism lodge(ChobeMarinaLodge) is “green”certifiedby theBotswanaTourismOrganisation (BTO). The company invests in sustainable products and services bypractising in-house water conservation (water harvesting, efficient toilet flushingfacilities,wateringgardenswithgreywater);energyefficientmechanisms(installationofledlighting,useofpowersavingcardsinthehospitalityproperty,plannedrenewableenergy supplies); sustainable materials (use of renewable materials); and waste

26http://www.dailynews.gov.bw/news-details.php?nid=30080

27http://rdcbw.com/

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management (separation of waste for recycling purposes i.e. kitchen oil, paper andglass,andcontractingcertifiedwasteremovalcompanies).


The RDC invests in community welfare through employment creation,training/education as well as lifestyle and healthy living coaching. The company has‘adopted’ the Ngwapa Primary School in Tuli Block and supports it in terms ofdeveloping and maintaining some of the school blocks and play ground; sponsoringprize giving ceremonies where best performing pupils are recognised; providingcomputersand internetconnectivity; sponsoringschool tripsandsports jerseys.Also,RDCsponsorsanannualChristmaspartyatSefharePrimaryHospitalaswellasdonateshampersforthenewbornbabies.PartnershipswithcommunitiesareobservedthroughtheMasaCentre foodandclothingcharitycampaign inwhichproceeds, foodhampersand clothing are donated to the Mother Pontsho Foundation in Mmopane village;studentworkplacement(UniversityofBotswana,BotswanaAccountancyCollege,BothoUniversity, Chobe Brigades, and Maun and Francistown Technical Colleges). Thecompany invests in employee welfare through training, career guidance andprofessionalgrowthplanning.

Corporategovernance

Thecompanyhas shownownershipof the sustainabilitydrivebyappointinga seniorexecutive tobe inchargeofsustainability inSeptember2017.Theexecutiveofficer isresponsibleforsustainabilitymattersespeciallyforthetourismandhospitalityentitiesofthecompany.Thisinitiativeisenvisagedtostrengthensustainabilityreportinginthecompany. Employee engagement on sustainability issues is observed by encouragingthemtoparticipateincivicandenvironmentalinitiatives,whichtakeplacethroughouttheyeareitheraspartoftheirjobdescriptionsorCorporateSocialResponsibility(CSR)programmes. Employees are also encouraged to apply their expertise and sharesustainabilityinformationwithclients,tenantsandtourists.TheRDCshowsownershipof sustainability practices by participating in as well as contributing to nationalsustainability processes and programmes such as the Gaborone Declaration forSustainabilityinAfrica(GDSA)andtheWealthAccountingandValuationofEcosystemsServices(WAVES).

Thekeysustainabilitypracticesaresummarisedinfigure8.

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Figure8KeysustainabilitypracticesatRDC


Thereisalwaysaneedtocreateopportunitiesforenhancingimprovementinanyactivecompany’s operations and activities. The portfolio of the senior executive could bebroadened to property development and investment as awhole and not only for thehospitality/tourismaspectof thecompany.Thiscouldplacethecompanyontherightpedestalforbecomingthesustainabilitychampioninthepropertysector.

3.3.3LETLOLELARONALIMITED

Letlole La Rona Limited (LLRL) 2016 Annual Report28describes the company as aproperty investment firm and the portfolio comprises industrial, retail, office, leisureandresidentialspace.

28http://www.bse.co.bw/docs/211116%20LLR%202016%20Annual%20Report.pdf

Environment•Waterharvesting•Watersavingtoiletflushingsystem•Greywaterforgardenuse•Ledlighting•Powersavingcards•Wasteseparation•Renewablematerials

Social•FoodandclothingdonationstoMotherPontshoFoundation•EducationalsupporttoNgwapaPrimarySchool•ChristmassupporttoSefharePrimaryHospital•Studentworkplacement

Governance•Dedicatedseniorexecutiveforsustainabilityissues•ParticipationinnationalsustainabilityinitiativessuchasWAVESandGDSA

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3.3.3.1 LETLOLE VISION, MISSION, VALUES, STRATEGIC FOCUS ANDSUSTAINABILITYCOMMITMENT

According to the report, the company is envisioned to be the premier real estatecompany inselectedmarkets inAfrica. Itsmission is, therefore, toprudently invest inreal estate and real estate instruments that create a quality, balanced anddiversifiedproperty portfolio for optimum returns. The report further outlines the company’svaluesasintegrity,innovation,agility,customerfocusandexcellence.


Thecompanydidnotrespondtothequestionnaire,whichaddressesthe‘sustainabilityprogram’ component. Also, an evaluation of its report did not reveal any practices inlinewiththesustainabilityreferencelistdevelopedforthisstudy.Thisdoesnotsuggestthatthecompanydoesnotperformanysustainabilitypractices.

3.3.3.3 POTENTIAL NEEDS FOR FURTHER IMPROVEMENT AND FUTUREPROSPECTS

The company’s point of entry could be to adopt a sustainable development goal onwhichitintendstofocus.Moreimportantly,opportunitiesforthepropertyindustryliemostly in energy and resource consumption, greenhouse gas emission reduction, andenvironmentalconservation(Schulteetal.,2012).

3.3.4NEWAFRICANPROPERTYLIMITED

The 2016 annual report for New African Property Limited (NAPL) describes it as apublic variable rate loan stock29company which owns retail properties in primeshoppingnodesinBotswanaandNamibiaforpurposesofinvestment30.


Relevant informationmeant for this sectionwasnot available on available secondaryinformation.

29shareswhichcanbeusedascollateraltosecurealoan

30http://www.bse.co.bw/docs/111116%20-%20NAP%20annual%20report%202016.pdf

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The company did not respond to the questionnaire addressing the ‘sustainabilityprogram’component.Thecompany’sevaluationreportalsodidnotrevealanypracticesin line with the reference list developed for this study. This does not suggest thatsustainabilitydoesnotformpartofthecompany’soperations.

3.3.4.3 POTENTIAL NEEDS FOR FURTHER IMPROVEMENT AND FUTUREPROSPECTS

Similarly,thecompanycouldexploretheopportunities,whicharemostrelevanttothepropertyindustrysuchasenergyandresourceconsumption,greenhousegasemissionreduction,andenvironmentalconservation(Schulteetal.,2012).

3.3.5THEFARPROPERTYCOMPANYLIMITED

TheFarPropertyCompanyLimited(FPC)2016AnnualReportstatesthatthebusinessis a variable rate loan stock company31. Although mainly retail-based, the companyspecialisesinpropertyandassetmanagementwithadiversifiedportfolio.


ThereportindicatesthattheFPCwasestablishedtomeetthegrowingspaceneedsforthe Choppies Group especially in countries where land/property ownership is arequirement.


Thecompanydidnotrespond to thequestionnairemeant toelicit informationon thesustainability program component of its activities. There was also no secondaryinformationfoundonthiscrucialaspect.Thisdoesnotsuggestthatthecompanydoesnothavesustainabilitypracticesinplace.


TheChoppies group is doing considerablywell in termsof sustainability in the retailsector.GiventhattheFPCwasestablishedtomeetthegroup’sneeds,andwheresomeoftheboardmembersarethesameforthetwocompanies,thereishopethecompanywill find its footing in the property sector with respect to taking the lead insustainability issuesover time.Likeother companies in the sector, its strength lies in

31http://www.bse.co.bw/docs/101116%20FAR%20Property%20Annual%20Report%202016.pdf

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theopportunitiesmostrelevant totheproperty industrysuchasenergyandresourceconsumption, greenhouse gas emission reduction, and environmental conservation(Schulteetal.,2012).

3.3.6TURNSTARHOLDINGSLIMITED

Turnstar Holdings Limited (THL) is a property investment company (see companyAnnualReport32).


Therewas no secondary information found in this regards and the company did notparticipateinthesurvey.


Asalreadyhighlighted,therewasnosecondaryinformationprovidedonthecompany’swebsite in relation to the sustainability practices adopted for the study and thecompanydidnotparticipateinthesurvey.Thisdoesnotsuggestthatthefactthatthecompanydoesnotengageinanysustainabilityprogram.

3.3.6.3 POTENTIAL AREAS FOR FURTHER IMPROVEMENT AND FUTUREPROSPECTS.

Like other similar companies, THL could set goals aimed at relevant SDGs andincorporatethemintotheoverallcompanystrategy.

32http://www.bse.co.bw/docs/Turnstar%20-%20Annual%20Report%202016.pdf

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3.4CATEGORY4:BANKINGSECTOR

Asustainablebankis“onethatnotonlyunderstandsandmanagestherisksthatarisebecause of sustainability issues, but also perceives the strategic dimension of theseissues. This means thinking ahead about business implications and opportunitiesbrought by the increasingly pervasive environmental, social and developmentalchallengesofourtime”(UNEP,2016:ii).Duetotheirlendingandinvestmentactivities,banks are uniquely positioned to facilitate sustainable development. For example,private financing provides an array of avenues that direct investment towardsmitigationandadaptationprojectstakingintoaccountthefactthatgreeninitiativesforaddressingclimatechangeareapriorityallovertheworld(SSE,2015).Bankscanalsosupport the global sustainability agenda bymanaging environmental and social risksrelatedtolendingactivities(e.g.havingcommitmentspertainingtoenvironmentalandsocialissuesinlendingagreementsandensuringthatinvestorscomplywithallnationalenvironmental and social laws and regulations); managing the impact of the banks’internal activities (e.g. formulating actions to reduce carbon footprint and resourceconsumption); stakeholder engagement and communication (e.g. on issues involvingfinancing and sustainability); capacity improvement such as training packages onsustainable banking issues (Türkiye Bankalar Birligi, 2014). Other examples ofsustainabilitypracticesexecutedbybanksglobally include issuanceofgreenbonds tofinance sustainable infrastructure in developing countries; partnerships withgovernmenttoselectprojectsbasedoncriteriathatincludeclimateresilientdesignandinclusiveservicedelivery;offeringmortgagepackagesatreducedcoststailoredtonew-build homes and offices that have high energy efficiency performance; provision ofgreen financewhich includes green project bonds, green asset-backed securities, andphilanthropic funds that act as catalytic first-loss capital to promote investment inenergy access; and setting up a department specialising in environmental finance(UNGC,2017).

Barclays Bank of Botswana Limited, First National Bank Botswana Limited andStandardCharteredBotswanaLimitedarethethreecommercialbankslistedundertheBSEthatfallunderthiscategoryandarediscussed.

3.4.1BARCLAYSBANKBOTSWANALIMITED

Barclays Bank Botswana Limited (BBBL) is a leading financial services provider thatoffersretailbankingservicesintheformoftransactionbankingsolutions,savingsandinvestment,foreignexchangeandlending,amongothers(BBBL,2016).

3.4.1.1 VISION, MISSION, VALUES, STRATEGIC FOCUS AND SUSTAINABILITYCOMMITMENT.

Thebankaimstobethebankofchoicebyassistingpeopletoachievetheirambitionsinthe right way. It upholds the values of respect, integrity, service, excellence and

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stewardship. The bank is committed to contribute to sustainable development of thecommunitiesinwhichitoperates(BBBL,2016).


The findings of the field survey conducted and the Barclays Bank of BotswanaCitizenshipReportof2015/2016outlinethebank’ssustainabilitypracticesasdiscussedbelow.


The bank invests in sustainable products and services (energy and water efficiencymechanisms, and waste separation like paper, cans and plastic for recycling);innovation(paper-lessbaking),buildingsandfacilities(itsheadquartersishousedinagreen buildingwhich has sensors attached to all the lights andwater taps to ensureefficient use of electricity and water). BBBL also invests in sustainability projectsthroughitsRhinoDebitCardinitiativeofwhichtheproceedsareusedinenvironmentalconservation.AtypicalexampleofsuchBarclays’activitiesisreflectedintheprovisionof grants to environmental entities. The Youth Development and Rhino ConservationProject provides youth with game ranging skills thereby positioning them foremployment opportunities in animal and rhino conservation. Furthermore, BBBLengagesitsemployeesinvoluntarycleanupcampaignsandtreeplantingactivities.

Socialelementsofsustainability

The bank invests in community social welfare through women empowerment,education and skills development. For example, the bank has an initiative known as‘Ready to Work’ where young people in Ba Isago University, Construction IndustryTrust Fund, and Botho University are trained either for paid employment orentrepreneurship. BBBL also sponsors the Botswana Youth Jobs Fair. Through theTweede project, the company empowers young people in Ngamiland District withfinancialmanagementskillsandfacilitatesemploymentaswellasinternshipplacementopportunities.TheF.G.MogaeScholarship,which thebankawards,hasprovidedpostgraduatetrainingforyoungBatswanaandsomeofthebeneficiariesincludeemployeesofthebank.ThebankalsoundertakeswomenempowermentthroughtheGrassRootsGrowingOurWealth (GROW)project. Through theproject,womenare capacitated infinancialliteracyspecificallysaving,leadershipandentrepreneurialskills.Themainaimofthe initiative isto liftwomenoutofpoverty. Thus,Barclaysengages incommunitypartnershipsinordertocontributetopovertyalleviation.Thecompanyhaspartneredwith Project Concern International (PCI) to improve the socio-economic status ofdisadvantagedcommunitiesespeciallytheyouth.TheSirKetumileMasireFoundationisanotherBarclays’partnershipinitiativeinwhichtheyouthareempoweredwithfundingfor skills training.Togetherwith Skillshare International,Barclayshas, amongothers,

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imparted skills in sports coaching to young people through the Game ChangersProgramme.Inabidtoensurethatmorepeopleareabletounderstandmoneymatters,BarclaysandMaitisongTheatreproducedaradiodramaprogrampopularlynicknamedPulaMoneyMatters (alsoknown locallyasMadiMajwana,meaningstories fromyourpocket)aspartofthebank’sfinancialliteracyoutreach.

Corporategovernance

Even though the bank has not identified a specific SDG as part of its sustainabilityprogram, it has consciouslymade sustainable development part of its strategic focus.ThebankhasinthepastpartneredwithGovernmentofBotswanaandUNDPtobepartoftheGlobalSustainableFinanceConference(atManagingDirector level).Still incollaborationwiththe government and UNDP, Barclays co-organised Botswana’s first Sustainable FinanceSymposium,fromwhichthisinitiativewasborn.

Thesustainabilitypracticesaresummarisedinfigure9

Figure9:BBBLsustainabilitypractices.

Environment•EnergyEfficiency•WaterEfficiency•Wasteseparationforrecycling•Paperlessbanking•Greenbuilding•EmployeevoluntaryTreeplantingandcleanupcampaigns•Animalconservation

Social•Financialliteracytraining•Womenandyouthempowerment•Postgraduatescholarship•SportsDevelopment

Governance•Sustainabledevelopmentrecognisedincompanystrategies•PartnershipswithGovernmentofBotswanaandUNDPthatledtomajormilestonesinsustainablefinance.

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3.4.1.3POTENTIALAREASFORFURTHERIMPROVEMENTANDFUTUREPROSPECTS

Commercial banks can pursue the sustainability agenda through their financingmechanisms.For instance,Barclays’ lendingand investmentpackagescouldbetiedtosustainabilityincentivessuchaslowinterestratesforgreenbuildings.Thebankcouldalso explore how theRhinoDebit card can be strengthened to benefit environmentalconservation even more. Additionally, its theatrical production could be extendedbeyond financial literacy toraisingawarenesson investing insustainableprojectse.g.conservationagriculture.

3.4.2FIRSTNATIONALBANKBOTSWANALIMITED

FirstNationalBankBotswanaLimited(FNBB)AnnualReportof2017refers to itasawhollyownedsubsidiaryofFirstNationalBankHoldings (Botswana)33.WesBankandRMBBotswanaarepartofthebank’sdivisions.


BasedontheavailableinformationontheFNBBwebsite34,thebankenvisionstobe“theBank of choice delivering innovative solutions and a superior customer experience”.Thebank’sstrategicfocusforservicedeliveryisanchoredonthebrandpromise“Howcan we help you?” The research findings outline FNBB values as helpfulness,effectiveness,ethical,innovation,andaccountability.


The report as well as findings from the survey outlines the following sustainabilitypracticesadoptedbythebank:


In support of environmentally sustainable buildings and facilities, the FNBB hasinvested in construction of eco-friendly building in Rankoromane. To facilitatewastepaperreduction,thebankadoptsane-migrationstrategycalled“BrickstoClicks”aimedat large scale digital banking through platforms such as cell phone banking, onlinebankingandATMusage forvarious transactions.Theseplatformsallowcustomers to

33http://www.bse.co.bw/docs/041017%20FNBB%202017%20Annual%20Report.pdf

34https://www.fnbbotswana.co.bw/about-us/aboutUs.html

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engageinprepaidtransactionsfortelephonyandelectricitybillsaswellassendingandreceivingmoney.FirstPlace(thatis,FNBBheadoffice)operatesonmotionsensorlightsto promote energy efficiency while water efficiency is supported through wateringgardenswithgreywater.


The FNBB Corporate Social Investment (CSI) activities are driven by the FNBFoundation. The foundation invests in sustainability projects such as the BontlengFutsalPark,aneco-friendlyparkinGaboronecomprisinganall-in-onesportcourtandagardenthatpromotesconservationagricultureandaquaponics,andarecyclingcentre.The greenparkwasbuilt using recycledmaterials andhasbeen furnishedwith solarpanels and rain water harvesting points. The park operates under the Pula SportDevelopment Association, a Non-Governmental Organisation (NGO), which has theobjective of bringing sporting facilities to low income communities. The bank hasconvertedadumpingsiteintoarecreationpark(FirstPark)forusebythecommunityin Tawana location, Gaborone. Investment in employee/community social welfare isanother area for social sustainability practise at FNBB. This is realised throughscholarships for permanent employees and funding NGOs that support communityhealth. An example is the Hope World Wide Botswana, which deals on HIV-relatedissues and the Tshidilo Stimulation Centre offering rehabilitation, stimulation, socialservicesandwellnesstochildrenlivingwithdisabilities.

Corporategovernance

The assessment conducted did not identify any vital information in line with thesustainability reference list adopted for the study in relation to this component. Theothersustainabilitypracticesaresummarisedinfigure10.

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Figure10:FNBBsustainabilitypractices.


The FNBB already has a basis which could be leveraged in pursuit of sustainablebanking.TheagricultureandcommercialpropertyfinanceproducthousedunderFNBBbusinesssegment(FNBB,2017)arepotentialareasforgreenfinancing.Accordingtothe2017report,thebankhasestablishedaPremiaTrainingAcademyforwhichcoursesarestillbeingdeveloped.Thisoffersanopportunitytointegratesustainability/sustainablebankingintothetrainingcourses.Thecompanyplansextendtheinstallationofmotionsensorlightstoitsbranches.

3.4.3STANDARDCHARTEREDBANKBOTSWANALIMITED

StandardCharteredBankBotswana Limited (SCBB) is the oldest bank in the countryhaving first opened for business in 1897 in Francistown and becoming locallyincorporatedin1975withafullboard(SCBB,2016).


SCBBstrivestobetheworld’sbestbankoperatingunderthebrand“Hereforgood”forthe benefit of Botswana corporates, individual depositors andmulti-nationals (SCBB,2016).The2016AnnualReport(p.13)furtherstipulatesthatthebankcollaborateswithitsclientsandpartners“topromotesocialandeconomicdevelopmentbyfinancingkey

Environment• Sensoredlightsandtaps(headquarters)

Social• scholarshipsforpermamnentstaff

• sportdevelopment

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sectors of the economy that drive sustainable growth, minimising the impact of ourlending and operations on the environment and investing in our communities”. Thebank’s commitment to sustainability is also demonstrated by the adoption of elevensustainability aspirations in 2016, which showcase how the bank’s financingmechanisms contribute to sustainable development (SCBB, 2016). According to thereport,thesustainabilityaspirationsareaimedatreducingtheenvironmentalimpactsemanatingfromthebanksoperationsaswellastosupportlocalcommunityprograms.At global level, SCBB has 20 position statementswhich guide its financial services toclients who operate in sensitive business sectors of agribusiness; chemicals andmanufacturing; dams and hydro power; forestry; gambling; infrastructure; nuclearpower; palm oil; ship breaking; transport; biofuels; climate change; fisheries; fossilfuelled power generation; human rights; mining and metals, oil and gas; renewableenergy;tobacco;andwater35.


ThereporthighlightsthefollowingESGissuesbythebank:

EnvironmentalSustainability

Basedon the2016report, thebankachievedreducedenergyandwaterconsumptionglobally.Itis,however,notclearfromthereportastohowmuchofthistakesplaceinBotswana.


SCBB invests in community partnerships, community and staff welfare, and nationalaspirations.Thereportoutlinesthefollowinginlinewiththeaforementionedreferencesustainabilitypractices.ThebankinpartnershipwiththePortableEyeExaminationKit(PEEK)VisionBotswanaproject screens 12,877school children for visual impairmentusingamobileapptechnology;offersfinancialtrainingtoyoungpeople,entrepreneursand women through the Bank’s Financial Education Programmes; trains employeesthroughtheLearningAcademy;empowerslowincomebusinesswomenwithaviewtoachievingfinancialinclusiveness;trainsstaffonpersonalfinancialliteracyandprovidesthemwithoranges inwinter toboost their immunesystemagainst thecommoncold;collaborates with NGOs in HIV/AIDS education among students at secondary schoollevel in order to effect behavioural change; uses its Education Trust to ensure thatextra-ordinary individuals and projects that have the potential to transform thecountry’s economyaregivenbursaries; andparticipates in thegovernment’s ‘adopt a

35https://www.sc.com/en/sustainability/performance-and-policies/standards-and-policies.html

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school’ program where learners have been imparted with leadership andentrepreneurialskills.

Corporategovernance

ThebankhasadoptedSustainableDevelopmentinitsoperationsanditsleadershiphasdemonstrated ownership of the sustainability agenda by establishing the 11sustainability aspirations, which according to the report, are to be embedded in thecompanypolicies,plansandprogramsin2017.Figure11summarisesthesustainabilitypractices.

Figure10:SCBBsustainabilitypractices


The sustainability aspirations developed by the bank in 2016 for implementation in2017arethehallmarkofthecompany’ssustainabilityprogramandareanopportunityforthebanktobeachampioninsustainablebanking(assumingitaddressesallaspectsofsustainability).

Environment• Energyefficiency• Waterefficiency

Social• Empowermentoflowincomebusinesswomen.

• Personalfinacialliteracyforstaffandcommunity

• Adoptaschool• EducationTrust

Governance• Adoptionof11sustainabilityaspirationsforincoporationinbusinesspractices

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3.5CATEGORY5:SECURITYSERVICESSECTOR

Poverty and deprivation often lead to conflict, crime, violence, and extremism, hencesustainable development is seen as pivotal to long-term stability and security36. TheOxfordResearchGrouphasidentifiedfouremergingtrendswhicharelikelytoleadtoglobal and regional instability and loss of human life37. These are climate change(engendering civil unrest stemming from loss of infrastructure, resource scarcity andmassdisplacementof people); competitionover scarce resources such as food,waterand energy; marginalisation of the poor majority (increasing socio economicinequalities); and global militarisation (increasing use of military force as a securitymeasure). The inability of national governments to provide the required security forlives and property in many geo-political climes as a result of dwindling resourceswarrantstheneedforprivateindividualstofillthegap.Privatesecuritycompaniesthusprovide security for livesandproperty,making their role in sustainabledevelopmentveryparamount. Theonly SecurityCompany listedwith theBSE,G4S, is discussed inthiscategory:

3.5.1G4SBOTSWANALIMITED

G4Sisdescribedasthesecuritysolutionsgroupspecialisinginoutsourcingofbusinessprocesses in sectors (such as in governments, corporations, private companies,embassies,parastatalsandnon-governmentalorganisations)wheresecurityandsafetyrisks are considered a strategic threat (G4S, 2016). The services includemanned andelectronicsecurity;cashmanagementsolutions(transportationandstorageofcashandvaluables, cash counting, cash processing as well as ATM replenishment andmaintenance);andfacilitiesmanagement(cleaning,utilityandmaintenanceservices).

3.5.2VISION,MISSION,VALUES,STRATEGICFOCUSANDSUSTAINABILITYCOMMITMENT

Basedonthecompany2016AnnualReport,G4S’smissionistocreatesustainablevaluefor its customers and shareholders as the supply partner of choice by upholdingintegrity,respect,safety,security,serviceexcellence,innovationandteamwork.


36https://www.americanprogress.org/wp-content/uploads/issues/2009/08/pdf/ss101.pdf

37http://www.oxfordresearchgroup.org.uk/ssp

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The company did not participate in the field survey exercise conducted to elicitpertinent information on the activities of listed companies. Neither did the companyreport reveal any sustainability practices for the environment and corporategovernance components of sustainability. However, the social sustainability elementsidentifiedduringthereviewofthereportarediscussedbelow:


The assessment conducted did not identify any vital information in line with thesustainabilityreferencelistadoptedforthestudyinrelationtothiscomponent.


G4S fulfils its responsibilities on human rights by subscribing to the 2011 UnitedNations Guiding Principles on Business and Human Rights (G4S, 2016). The reportfurther states that the company provides on-going training for its employees and bythatmeans invests in employee socialwelfare. Socialwelfare is also extended to thecommunitythroughanewsletteraimedatraisingawarenessoncrimetrends,patternsand ‘hotspot’areasaswellasprovidessafetytipstocustomers. Inthesamevein,G4Sinvests incommunityeducationbysupportingprizegivingceremoniesandimprovingprimary school library space for the purpose of creating a conducive learningenvironment for younger learners. The company engages in some communitypartnerships where time is set aside for community projects. The Bhubesi Prideprovides an example of such partnerships, where rugby sport development (trainingskills,resourcesandequipment)targetingchildrenandteachingstaffisimplementedinninecountries,includingBotswana.ThesamepartnershipisextendedundertheLegacyProjectwherethecompanyinvestsintheprovisionofasecuredandconducivelearningenvironmentatTshwaraganoPrimarySchoolinGaborone.

Corporategovernance

The assessment conducted did not identify any vital information in line with thesustainabilityreferencelistadoptedforthestudyinrelationtothiscomponent.

The identified sustainability practices for the social dimensions of sustainability aresummarisedinfigure12below:

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Figure12:G4ssustainabilitypractices


Assessing the company report, G4S commitment to sustainability is adjudged to beskewed towards the social component of ESG ethos. Nonetheless, there areopportunitiesintheenvironmentandcorporategovernancecomponents.Forinstance,G4S could capitalise on supply chain management through its facilities managementservicesbyensuringthattheircleaningchemicalssupplierscomplywithsustainabilitystandards among others. The security company could widen its scope of awarenesscreation on security issues through popular advocacy and publicity, which take intoconsiderationtheneedsandaspirationsofthenon-literatemembersofthepublic.

Social• Communityeducation&training• Sportdevelopment• Employeetraining

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3.6CATEGORY6:TOURISMSECTOR

Globally,thetourismsectorisoneofthesectorsthathavepositionedthemselvesinthesustainability domain. According to the United Nations World Tourism Organisation(UNWTO) and Global Compact Network Spain (GCNS) (2016), tourism contributesdirectlyandindirectlytogoals8,12,and14oftheSDGsasdepictedintable4.

Table5:Tourismandsustainabledevelopmentgoals

Goal Target

Goal8:Decentworkandeconomicgrowth Target8.9:By2030deviseandimplementpolicies to promote sustainable tourismthat creates jobs and promotes localcultureandproducts

Goal 12: Responsible consumption andproductionpatterns

Target 12b:Develop and implement toolsto monitor sustainable developmentimpacts for sustainable tourism whichcreates jobs, promotes local culture andproducts

Goal14:Lifebelowwater Target 14.7: By 2030 increase theeconomic benefits of SIDS and LDCs fromthe sustainable use of marine resources,including through sustainablemanagementof fisheries, aquacultureandtourism.

AdaptedfromUNWTO&GCNS(2016)

ThethreetourismcompanieslistedwiththeBSEareCrestaMarakaneloLimited,ChobeHoldingsServices,andWildernessHoldingsLimitedarediscussedbelow.

3.6.1CHOBEHOLDINGSLIMITED(CHL)

According to the Chobe Holdings Limited (CHL) 2017 Annual Report, the company’sfocusisonphotographicsafarioperationsandrelatedsupportingbusinesses.Itswhollyowned subsidiaries comprise eleven eco-tourism lodges and camps in northernBotswanaandtheCapriviStripinNamibia.

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Noinformationpertainingtothesubjectmatterwasfoundonthecompanywebsiteandreport.Thecompanydidnotparticipateinthesurvey.


Following the reference sustainability practices developed for this study, thesustainability practices that were identified in the report fall only in the socialsustainabilitypillar.


CHLinvestsincommunitysocialwelfareandsustainabilityprojects,aswellassupportsnational aspirations. The company provides bursaries for Tourism and Hospitalitydegreeprogramsaswellasshorttermtraining/attachmentsinthefoodandbeveragedepartmentsofChobeGameLodge.Thecompanyalsooffersfinancialassistancetocraftproducers, various NGOs dealing with children and women, and conservationactivities/programs. In support of the ‘adopt a school’ government initiative, CHLsupports selected schools by providing them with uniforms, stationery and studentbags, incentives for high flyers, prizes, revision books, refurbishment/maintenance ofdesks, tourism and conservation getaways/excursions for students, and studentwildlife/gameexperiences.Figure13summarisesthesustainabilitypracticesobservedatCHL.

Figure13:CHLsustainabilitypractices

Social• Tourismandconservationexcursionsforstudent• Provisionofschoolsuppliesforstudents• Provisionofincentivesforstudenthighflyers• Sportsdevelopment• Training/attachmentsincompanyfoodandbeveragedepartments

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International organisations have already provided guidance on the tourism sector’spositioninrelationtotheSDGsasdiscussedunder3.6.CHLcouldadoptanSDGtofocuson.Thecompanycouldalsoconsidersustainabilityreporting.

3.6.2CRESTAMARAKANELOLIMITED

CrestaMarakaneloLimited(CML)isaholdingcompanyfoundedin1987andengagesintheoperationofhotelsaswellasprovisionofhotelservicestobusinesstravellers38.


Basedonthesurveyfindingsandcompany’s2016AnnualReport39,CMLendeavourstocreatememorablehospitalityexperiencesbyofferingexcellentservicesthattypifytheAfricanexperience.Hence the companyupholdspeople-centredvalues,which includerespect,dignity,integrity,honestyandpassion.


Thecompanysustainabilitypracticesarediscussedbelow.


CML invests in sustainable products and services in the form of in-house waterconservation (through savewater campaigns, water recycling, promotion of showersinsteadofbathtubs);energyefficiency(throughtheuseofenergyefficientlightbulbs,sensorelectricappliances); andwastemanagement (throughwaste separation;wastebincolourcoding,safedisposalofusedoilandchemicals).Thecompany’scommitmenttoenvironmentalsustainabilityisdepictedinthecompany’sstatementthat:

“We will be sensitive to the conservation of environmentally protected orthreatenedareas,speciesandscenicaesthetics.Weshallalsoaimtoachievetheenhancementofthelandscape,whereverpossible,bymeansofindigenousplantmaterialreinforcement.”(CML,2016,p.29)

38http://www.4-traders.com/CRESTA-MARAKANELO-LTD-20707132/company/

39http://www.bse.co.bw/docs/080617%20-2016%20Annual%20Report%20Cresta.pdf

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ThesurveyfindingsandreportrevealedthatCMLinvestsincommunityandemployeesocialwelfare.For instance, theemployeesenjoybenevolent funds,study loans, inter-country sporting activities among others. Communities are given priority wherepossibleinsupplyingthecompany’shotelswithtraditionalfoodstuffs,locallydesignedfabrics,handicrafts, sculpturesandartworksaswellascraftsused fordecorationandstockinghotel gift shops. The company alsopromotesnational aspirations of povertyeradicationthroughtheprovisionofshelterandfoodtothelessprivileged.

Corporategovernance

Thecompany’sreporthasasectionthataddressesspecificallyitssustainabilityagenda.Furthermore, the management has demonstrated the company’s ownership ofsustainabilityprinciplesbyintegratingenvironmentalperformanceintotheoperationalobjectives of general managers and other managerial staff. CML Management alsoengages and regulates its supply chain in order to minimise negative environmentalimpactofthesuppliers’activities.Thesustainabilitypracticesaresummarisedinfigure14.

Figure14:CMLsustainabilitypractices


Eventhoughthecompanyhasacomponentofsustainability in itsannualreporting, itdoesnotcoveralldimensionsofsustainability.Thecompanycouldbroadenthescopeof

Environment•Savewatercampaigns•Waterrecycling•Promotionofshowersinsteadofbathtubs•Energyefficiency•Wastemanagement

Social•Benevolentfunds,studyloans,inter-countrysportingactivities(employeeincentives)•Provisionoffood&shelter•Traditionalfoodandcraftssourcedfromthecommunity

Governance•Sustainabilityreporting• Supplychainengagedtominimiseenvironmentalimpact• Management&staffheldaccountableforenviromentalperformance

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its current activities to cover all aspects of sustainability especially environmentalsustainability which is currently covered under the CSR section. For food and craftssourced from the community, the company could invest in helping communities tosourcetherawmaterialsinasustainablemanner.

3.6.3WILDERNESSHOLDINGSLIMITED

Wilderness Holdings Limited (WHL) 2017 Annual Report posits that the business,whichtrades intravel(comprisingsafaricamps, lodgesandmobileexplorations),wasestablishedinBotswanain1983.


The vision for WHL is “to conserve and restore Africa’s wilderness and wildlife bycreating life-changing journeys and inspiring positive action” (WHL, 2017: p. 8). Thereport states that the company’smoral compass and framework for decision-makingand day-to-day operations is driven by the values of leadership, respect, fun anddedication.Inaddition,thecompany’sblueprintrecognisessustainabilityholisticallyasshown by its commitment to commerce, community, culture and conservation, all ofwhicharereferredtoasthe4Cs.


With reference to the reference sustainability practices guiding the study, thesustainabilitypracticeprevailingatWHLarediscussedbelow.

EnvironmentalSustainability

The WHL report outlines that the company observes environmental sustainabilitypracticesrelatedtoarchitecturalbuildingsandinvestmentinsustainableproductsandservices. New camps are subjected to lessons learnt from existing establishments inordertoreducenegativeenvironmentalimpacts.FurthermorenewcampdevelopmentsundergoEIAinaccordancewiththelaw.Thecompanyinvestsinsustainableproductsandservicessuchastheuseofsolarenergyandrefinementofflightcircuits(inordertoreduce its carbon footprint); and low-pressure systems for water efficiency. Thecompanyhasalsoinstalledon-sitewaterpurificationsystemsinordertoreduceuseofbottled water and this gesture contributes to water efficiency as well reduction ofcarbon footprint associated with the production of bottles and their delivery fromsourcetoitscamps.

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Socialdimensionofsustainability

The company invests in employee social welfare through training and development;partofthetrainingisvirtualviatheLobsterInkplatformforbothgenericandcompanytailoredmadehospitalitycourses.Ithasalsoputinplacestrategiesforgenderbalanceeventhoughthetargetisyettobemet.Furthermore,thecompanyprovidesstaffwithmobilehealthcare,telemedicinefacilitiesaswellaspreventativehealthcareforthosein remote areas.WHL engages in community partnerships and development projectsaimedatconservationandtourismbenefitsharing;povertyreduction;humanwellbeingandempowerment.Exampleshighlightedinthereportincludeimprovementofschoolinfrastructure, establishment of Eco-Clubs, provision of scholarships, nutritionprogrammes and the promotion of small community businesses. Most of these areachieved through theChildren in theWilderness (CITW) initiative.The companyalsoinvests in sustainability projects, which address anti-poaching, vegetationrehabilitation, reintroduction of indigenous species and/or research. Others includethoseledbyNGOsandpartners.

Corporategovernance

WHLhasadoptedsustainabledevelopmentinitsoperationsbylinkingits4CswiththeSDGs.Seefigure15.

Figure15:The4CsandSDGs.(adaptedfromWHL(2017))

Commerce• Inclusiveandsustainableeconomicgrowth

Community

• Socialinclusiveness,employmentandpovertyreduction

Conservation

• Resourceefficiency,environmentalprotectionandclimatechange

Culture• Culturalvalues,diversityandheritage

Culture,conservati

on,community

•Mutualunderstanding,peaceandsecurity

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ThecompanythusintegratessustainabilityinitsPoliciesPlansandProgrammes(PPPs)and reporting systems. It demonstrates the ownership of sustainability principlesthrough its fully-fledged sustainability office structure comprising four coordinators(one for eachof the4Cs)who receive technical direction fromaGroupSustainabilityManagerwho in turn isguidedbyaChiefSustainabilityOfficerwhilereporting to theChiefOperatingOfficer.SustainabilityissuesarealsodealtwithbytheSocial,EthicsandSustainabilityCommitteeundertheboardofdirectors(WHL,2017).Thereportfurtheraffirmsthatthecompany’sIntegratedReportwasrecognisedas8thbestintheworldatthe2016CorporateRegisterReportingAwards. The companyhas established a team(knownasBrandChampions),whichmoreorlessfacilitatessustainabilitywithinWHL.The team’sprimary function is to inculcate thecompany’spurposeandvalues(whichare mainly anchored on sustainability) into other employees in order to improveemployee engagement; retention and attraction of top talent; and influence companyfinancial performance (see WHL, 2017). Figure 16 summarises the sustainabilitypracticesobservedatWHL.

Figure16:WHLsustainabilitypractices


WHLhasmadeconsiderablestridesinaddressingsustainabilityinitsentiretyandhasset meaningful goals for the future. Nonetheless, more opportunities lie in thecompany’sabilitytomeasureitscarbonfootprint.Therearealsoopportunitiesforthecompanytoinfluenceitsvaluechaintotakeonsustainability.

Environment• Solarenergy• On-sightwaterpurifiers

• Monitoringcarbornfootprint

Social• Community/employeetraining&development

• Scholarships• Communityeducationalandenvironmentalprojects

Governance• Integratedreporting• Dedicatedsustainbilityoffice/structure

• Brandchampions• Social,EthicsandSustainabilityCommitteeundertheboardofdirectors

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3.7CATEGORY7:ENERGYSECTOR

Energyisanimportantfactorcontributingtotheachievementofsustainablelivelihoodsand economic growth. This, therefore, engenders the need to give a specialconsideration to its production and consumption patterns aswell as the adoption ofcleanerenergytechnologiesthroughharnessingofcleancoal,naturalgas,oilandothersources of energy. The energy sector is specifically key to SDG 7: Ensure access toaffordable, reliable, sustainable, andmodern energy for all and SDG 13: Take urgentactiontocombatclimatechangeanditsimpacts.ItisnoteworthythattheBSEhasonelistedcompanyintheenergysector,Engen,whichisdiscussedbelow:

3.7.1ENGENBOTSWANALIMITED

EngenBotswanaLimited(EBL) trades inpetroleumproductswitha focusonsalesaswell as distribution of fuels and lubricants. The retailmarket is serviced through theoperationsoffillingstations40.


EBLseeks tobe theoilcompanyofchoice insub-SaharanAfrica(SSA)andthe IndianIslandsbyupholdingvaluesofperformance,ownership,empowerment,teamworkandintegrity(EBL,2016).The2016annualreportatteststothecompany’scommitmenttosustainability by trading in clean fuels. This is with a view to safeguarding futuregenerations who will also depend on the environment which forms the basis forsourcingenergy.


The company’s sustainability practices are discussed below as extracted andsummarisedfromthereportandsurveyfindings,respectively:


The company’s buildings and facilities (service stations, depots and administrativebuildings) are subjected to national environmental legislation and international bestpractices. The company also invests in sustainable products and services aimed atpreventingwaterpollution(throughtheuseofseparatorpits).Italsopaysattentiontoenergyconservation(throughtheuseofenergysavingbulbs)andwastemanagement(byensuringsafewaysofhandlingusedoilaswellasoilspills).ItpaysalevytoTshole

40http://www.bse.co.bw/listed_companies/listed.php?company=ENGEN

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Trust which is responsible for ensuring safe disposal of used oil and educating thepublicaboutsafehandlingofusedoil.


The 2016 annual report states that EBL’s CSR strategy covers aspects of education,outreach and environment. The company drives Botswana’s national aspirationsthrough appropriate initiatives such as the “Adopt a School Programme” in which itofferssupport toselectedschools through libraryrefurbishmentsaswellasbookandcomputerdonations.

CorporateGovernance

Thecompanyholdsitsmanagementaccountableforensuringsustainabilitypracticesinbusinessoperationsandarerewardedforgoodperformanceinthisregard.Elementsofsustainability are also covered in the PPPs. Figure 17 below summarises the abovesustainabilitypractices.

Figure17:EBLsustainabilitypractices

Environment• Energysavingbulbs

• Separatorpitsforpreventionofwaterpollution

• Safehandlingofusedoil

Social• Adoptaschoolinitiative

• Rewardsemployeesforgoodperformamceonsustainabilityissues

Governace•Demandsemployees'accountabilityonsustainability

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Even though theresearch findingsshowedthat thecompanyrecognisesandobservesthesustainabilityagendainitsoperations,specificexamplesofthethreedimensionsofsustainabilityespecially, sustainableenvironment,donot really standout consideringthe role that the energy sector in general plays in relation to SGD 7 and 13. Thecompany’s sustainability reporting could take this into consideration. In addition toEBL’s current efforts in enhancing the sustainability agenda, it is suggested that thecompany needs to also drive the campaign and advocacy for environmentalconservation through trainings and education; they could organise sensitisationworkshops and offer scholarships for promising students to enable them embark onhighereducationinenvironmentalstudies.FurthermoreEBLcouldtakeadvantageofitspromotionalcompetitionstostimulatesustainabilityactivitiesinthecommunitiestheyoperate in.

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3.8CATEGORY8:INFORMATIONANDCOMMUNICATIONTECHNOLOGY(ICT)SECTOR

ICT is better placed to influence the implementation of the sustainability agenda inother sectorsbydeveloping innovations to enhance increased energy efficiencies andreductions (ITU-T, 2012).Nonetheless, studies have revealed that the ICT industry isresponsible for 2% of global emissions and the footprint is projected to grow at 6%annually (ITU-T, 2012). It is thus imperative for the industry to integrate thesustainabilityagendaintoitsorganisationaloperationsandmanagement.Sustainabilitypractices, which are given consideration by the sector include sustainable products,(that is, using environmentally conscious design principles); sustainable buildingswhichentails theuseof sustainabilitystandardsduringconstruction, lifetimeuseanddecommissioning; end of life management which promotes the extension of life ofequipment no longer deemed optimal by existing users through the transfer of theirutilisationtootherusersorrecyclingtheequipmentormaterialscontainedinthemforother purposes (ITU-T, 2012). Sustainability issues that need attention are related todata centres, desktop infrastructure, broadcasting services and telecommunicationsnetworks (ITU-T, 2012). Only one ICT company listed under the BSE, BotswanaTelecommunicationCorporationLimited,isdiscussedbelow:

3.8.1BOTSWANATELECOMMUNICATIONCORPORATIONLIMITED.

The survey findings and the 2017 Annual Report indicate that the BotswanaTelecommunicationsCorporationLimited (BTCL)wasestablished in1980 toprovide,develop and manage national and international telecommunications services inBotswana.Thecompanyrendersretailandwholesaleproductsandservicestomobileoperators, internet service providers, regional and international service providers(BTCL, 2016). The 2017 Annual Report further lists the company’s products andservices to include voice telephony, fixed and mobile telephones, national andinternationalinternet,dataservices,virtualprivatenetworksandcustomerequipmenttoresidential,governmentandbusinesscustomers.

3.8.1.1VISION,MISSION,VALUES,STRATEGICFOCUSANDSUSTAINABILITYCOMMITMENT

Basedonthesurveyfindings,BTCL’svisionistobeamarketleaderincommunicationservices within the market space in which it operates. Its mission is therefore to“…providesuperiorcustomerexperiencethroughinnovativecommunicationsolutions”.Thisispursuedthroughteamwork,ownership,delivery,simplicityandinnovation.Thecompany’scommitmenttosustainability isencapsulatedinitsCSRthrust:“Weimpactthe lives of communities in pursuit of social, economic and environmentalsustainability”. Informationprovidedintheannualreport indicates thattheissueson

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environmentalprotectionof thecompany’sCSRstrategicdirection is inrecognitionoftheneed tocurbcarbonemissions,deforestation, soilerosion,e-wasteetc. emanatingfromitsproductandserviceofferings.Furthermore,thesurveyfindingsshowthatsomeof the company’s practices are based on the SDGs as they aim at reducing socialinequalities;ensuringresponsibleconsumptionandproduction;providingdecentwork;anddrivingeconomicgrowth.


BTCLsustainabilitypracticesaredescribedbelow.


BTCLinvestsinsustainableproductsandservicestoreduceitsenvironmentfootprint.Theseincludereductionofcarbonemissionsbyholdingvirtualmeetingsandsharingoftelecommunicationsmasts;reductionofwastepaperthroughdiscouragingunnecessaryprinting;supplyofoldtelephonedirectorybookstoschoolsforthepurposeofturningthemintoartefacts;introductionofelectronic-invoicing;encouragingtheuseofnaturallight;andswitchingoffoflightswhennotinusesoastoconserveenergy.


ThesurveyfindingsrevealedthatBTCL’sstrategicfocus(2017–2020)willbeonsportdevelopment and wellness, arts and culture, entrepreneurship and innovation,partnerships and e-waste. Community/CSR projects (e.g. technology equipment,sponsorshipsandpartnerships)arefundedbytheBTCFoundation(BTCL,2017).Someof the social dimensions that apply to the company in line with the referencesustainabilitypractices(developedforthisstudy)asextractedfromtheannualreportare national aspirations, community partnerships and investment in employee socialwelfare. Inpursuitof thenationalvisionof ‘aprosperous,educated, informednation’,BTCLhasestablishedtele-centres(Kitsongcentres)inthelessdevelopedregionsofthecountry for the purpose of promoting community access to information andcommunication products and services. The centres are equipped with photocopiers,printers and faxes. BTCL has also partnered with the government to network majorhospitals,clinicsandhealthpostsandtotheMinistryresponsibleforhealth.Employeesareprovidedtrainingthroughanonlineplatform.

Corporategovernance

Although there appears to be no balanced reporting of all the three dimensions ofsustainability,theBTCLannualreportintegratessustainabilityissuesinthedocument.Figure18belowprovidesasummaryofthediscussedsustainabilitypractices.

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Figure18:BTCLsustainabilitypractices

3.8.1.3NEEDSFORFURTHERIMPROVEMENTANDFUTUREPROSPECTS

Thereportingofactivitiesinrelationtothesustainabilityagendacouldbeenhancedbyaddressing all aspects of sustainability in line with the business operations. Forexample, the survey findings show that the business operations have links with theSDGs. This vital information could also be highlighted in the company’s report. Thecompany also plans to develop a Sustainability Operating System (SOS) as well asengagestaffonsustainabilityinitiatives.Thesearegoodplansthatcouldaddvaluetoitssustainability drive. Among its other future plans is the electronic waste (e-waste)management. This will present an opportunity for a comprehensive strategy for thedisposal of computers, office electronic equipment andmobile phones, which, at themoment, are discarded indiscriminately by users, andwhich could be detrimental toenvironmental health in the long run. The company should also considerwidespreadaccess toaffordable internetandphoneservices inremoteplacesasacontributiontothe SDGs, and to reduce travel.

Environment• Virtualmeetings• e-invoicing• Sharingoftelecommunicationsmasts.

Social• Telecentersinunderdevelopedareas

• E-learningplatformsforemployeetraining

Governance• Sustainabilityreporting

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3.9CATEGORY9:MININGANDMATERIALSECTOR

AlthoughmininghascontributedtomanyofthechallengesthattheSDGsaretryingtoaddress,theindustryhastheopportunityandpotentialtopositivelycontributetoall17SDGs(WorldEconomicForumetal.,2016).Thereport,however,statesthatindividualcompanies will need to determine how their business can participate in this noblegesture. This will be informed by context-specific factors (local, social, political andeconomic); the mineral resource being mined; whether the mining activities are atexploration, development, extraction or closure phases; and the outcome of localcommunities and other stakeholders’ formal dialogue (World Economic Forum et al.,2016).ThereportrecommendsthattheSDGsdealingwith(i)socialinclusion(SDG1–addressing the need to end poverty, SDG5 – focussing on gender equality; SDG10 –dealing with inequalities reduction; SDG16 – addressing peace, justice and stronginstitutions); (ii) environmental sustainability (SDG6 – emphasising clean water andsanitation;SDG15–addressing lifeon land;andSDG13–dealingwithclimateaction)and(iii)economicdevelopment(SDG16–Peace,JusticeandStrongInstitutions;SDG9–addressing infrastructure, innovationand industrialization; andSDG12– focussingonresponsibleconsumptionandproduction)willbeagoodstartingpoint forcompaniesthatwanttoaligntheiroperationstotheUNgoals.TheonlyminingcompanylistedwiththeBSEisMinergy,andispresentedbelow.

3.9.1MINERGYLIMITED

The company’s 2017 Integrated Annual Report describes Minergy as a coal miningentitythathasrecentlybeenestablishedinBotswana.Accordingtothereport,Minergyisinthepre-productionstagependingawardingoflicence,hencetheminehasnotbeendevelopedyet.

3.9.1.1VISION,MISSION,VALUES,STRATEGICFOCUSANDSUSTAINABILITYCOMMITMENT

MinergystrivestobethesupplierofchoicetoallcoalconsumersacrosssouthernAfricaand plans to eventually enter the seaborne thermal coal export market over time(Minergy Limited, 2017). The company’s mission is therefore “to leverage thesignificant product and logistics cost advantage over other producers supplying thetargetmarkettosecureshortandlongertermcoalsales”(MinergyLimited,2017:p.9).Thecompanysustainabilitystrategyfocusesonsafety,health,environment,community,employeesandgovernance.


The company did not participate in the questionnaire survey. However, thesustainabilitypracticesextractedfromtheannualreportarecapturedinthisreport.

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Asindicatedinthereport,minimisationofenvironmentalimpactwillformanintegralpart of the business operations. The company is committed to “leaving behindsomethingbetterthanthatwithwhichwestarted……Ensuringthelandweleavebehindis healthy” (Minergy, 2017: p. 24). The report further states that studies are alreadycommissionedandguidelinesputinplaceforaddressingnoisepollutionandairqualitycontrol. Other environmental issues to be addressed are water (baseline data andmodelling),wastemanagement,archaeology, floraand faunasurveysandbiodiversitymanagementplans,social impactstudieson theninevillagessurrounding theproject,trafficmanagement,soilsbaselinestudy,healthandsafety.


The company plans to invest in employee social welfare (skills development, careerprogression, mentorship, internship and bursary, safety and minimisation ofinjuries);communitysocialwelfare(upgradingtheclinicinMedieandtheaccessroadsto themine, aswell asmakingpoweravailable to thevillageofMedie inpartnershipwithBotswanaPowerCorporation).

Corporategovernance

Thecompanyplansappeartobebalancedacrosstheentirespectrumofsustainabilityeven though the words ‘sustainability’, ‘SDGs’ or ‘sustainable development’ seldomappearinthereport.


AsMinergyhasyettocommencebusinessoperations,itis,therefore,necessaryforthecompany to determine, from the outset, ways in which it would contribute to theattainmentoftheSDGs.GiventhatithaspositioneditselftoaddressvariousESGissues,andplanstocollectdataforbaselinesandmonitoring,itshouldconsidersettingtargetsfortheseESGparametersgoingforward.

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4.0BOTSWANASTOCKEXCHANGEANDSUSTAINABILITY

TheBSEisBotswana’snationalstockexchangegiventheresponsibilitytooperateandregulate the equities and fixed interest securities market. It plays host to the mostpreeminentcompaniesdoingbusinessinBotswana.Havingsubscribedtointernationalsustainability frameworks, andbeingat the forefrontof encouraging companies tobesustainable,theBSEneedstoleadbyexampleifitmusteffectivelypromotetheuptakeofsustainabilitybyitslistedcompanies.Withthisinmind,theresearchinformingthisreportextendedtheprofilingexercisetotheBSE,andthefindingsarepresentedhere.

4.1.KEYELEMENTSOFTHECOMPANY’SSUSTAINABILITYPROGRAM


TheBSEhasinvestedinsustainableproductsandservices,whichensuresthereductionof in-house waste paper; adoption of energy saving mechanisms; and reduction ofcarbonemissions.TheCentralSecuritiesDepository(CSD)systemadoptedin2008forefficientclearingandsettlementofsecuritiestradedontheBSEledtotheeliminationofpapercertificatesandthedematerialisationofsecurities intoelectronicCSDaccounts.Subsequently,thesystemhasenabledtheemailingofCSDstatementsinlieuofprintingand posting hard copy statements to shareholders numbering close to 80,000. It isenvisaged that the systemwill in futureallow forelectronicAnnualGeneralMeetings(e-AGMs)where investorswillbeabletoparticipate inAGMsvirtually.Staffmembersareencouragedtousee-mailwithaviewtoreducingtheusageofpaper.TheBSEhasintroducedanAutomatedTradingSystem(ATS)throughwhichbrokerscantradefromtheiroffices.Italsoencouragesproperusageofelectricitywithintheorganisation.Staffare encouraged to monitor consumption or usage of water, lighting, heating andventilationaswellaselectronicequipmentwithintheworkspace.


TheBSE invests in employee/community socialwelfare andnational aspirations. Thestockexchangestaffbenefitsincludepaidmedicalaid,pension,insurance,skillstrainingand implementation of loan scheme with lending institutions. The company staffwelfarecommitteearrangeswellnessactivitiesthroughouttheyeartokeepemployeesmotivatedandefficient.ThecompanyalsocconductscontinuousFirst-Aidtraining forstaff members. Through the Adopt-A-School national program, the BSE engages inschool refurbishment, facility donation, funding of prize giving ceremonies for someschools, someofwhich are situated in rural areaswhere services are very limitedorinaccessible.Inaddition,theBSEfacilitatesnumerouspubliceducationcampaignsuchasOpenDays,TVandradioprogrammes,publicationsandsocialmediaplatformsthataimatsensitisingandeducatingmembersofthepublicaboutthestockmarketandthepotential benefits of investing in BSE-listed securities. Potential issuers are alsoeducated about the prospects of utilising the stockmarket as a platform for capital-raisingandotherassociativebenefits.

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Corporategovernance

The BSE has demonstrated ownership of sustainability agenda by joining theUnitedNations Sustainable Stock Exchanges (SSE) initiative, which is a network of stockexchanges that uphold sustainability practises and promote them in their domesticmarkets.Althoughthecompanyplanstocommencethepublishingofintegratedreportsin2018,itisamemberoftheAfricaIntegratedReportingCommittee(AIRC)whichwasestablishedbythePanAfricanFederationofAccountants(PAFA)andtheWorldBankGroup(WBG).Theonusofthecommitteeistoprovidestrategicthinking,andpromoteand support the adoption of Integrated Reports in Africa. Employee engagementincludesvariousenvironmentalawarenessactivitiesforstaff.Theawarenesshasledtosome BSE employees adopting car pooling and ride sharing agreements tominimisecostsonfuelandassistwithemissionreductionintheenvironment.Workingtowardsthesamegoal,someemployeeshavechosentocommuteinpublictransportasopposedto their personal cars. Figure 19 summarises the sustainability practices at BSE. TheBSEhasembarkedona sustainability awarenessdrive for its listed companieswhichcommenced with this profiling exercise. This as alluded to in the introduction, is inpartnershipwithUNDP.

Figure19:BSEkeysustainabilityissues

4.1.3POTENTIALAREASFORFURTHERIMPROVEMENTANDFUTUREPROSPECTS

Given its role in international sustainability initiatives, the BSE is a good place toinfluence sustainability practices among its listed companies. This implies that theyhaveaccesstogloballyrecognisedpracticesandareabletoobtaininformationastheconceptevolvesovertime.Thestockexchangecurrentstrategyoffersitagoodpedestal

Environment• Papersavingmechanisms

• Waterconservation• Energyconservation• Reductionofcarbonemissions

Social• AdoptaSchool• FirstAidtrainingforemployees

• Employeehealthandeducationbenefits

• Awarenessraisingonstockmarkets&benefitsofinvestinginBSElistedsecurities

Governance• AmemberofofSSEinitiative

• AmemberofthetheAfricaIntegratedReportingCommittee

• Staffcapacitatedonsustainabilityissues

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for its own growth in the drive towards sustainability. It is instructive to note theorganisation’splannedroleofpromotinggreenfinancingforcompaniestoraisecapitalforclimate-friendlyandrenewableenergyprojects.IthasalsocommittedtodevelopingaModelGuidanceonReportingESGInformationtoinvestors.TheModelGuidanceisavoluntary tool (another SSE initiative) which would help stock exchanges to guideissuersonfinancialoperationsandprocedures.

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5.0SYNTHESISOFEXISTINGSDGS-COMPLIANTSUSTAINABILITYPRACTICES

This section synthesises the sustainability practices identified across BSE-listedcompaniesinrelationtotheESGdimensions,andintermsoftheSDGs.ItpresentsthemostprominentSDGsthatthesustainabilitypracticesofcompaniesarecontributingtoundereachoftheenvironmental,socialandgovernanceperspectives.ForeachSDG,itsmain overall thrust and a few examples of practices from the profiles of BSE-listedcompaniesarepresented.

Environmentaldimensionofsustainability

SDG6, which addresses clean water and sanitation, requires stakeholders to managewater in a way thatmeets social, economic and environmental needs (UNGC, 2017).This is achieved through theapplicationofholisticwateruse strategies that facilitatesocialequity,environmentalsustainabilityandeconomicgainsincompanyandsupplychain operations. The strategies are also meant to ensure the protection of wetlandecosystemsinareaswherethecompanyoperates.Therelevantsustainabilitypracticesobservedintheprofilingexerciseincludewaterharvesting,wateruseefficiency,theuseof separator pits meant to prevent ground water contamination by petroleumcompanies.

SDG7,whichaddressesaffordableandcleanenergy, callsoncompanies touseenergyefficiently,adoptrenewableenergywherepossibleandencouragetheirsupplychaintodo the same (UNGC, 2017). Examples of relevant sustainability practices identified inthe organisations’ profiles include the use of energy saving bulbs and buildings, andadoptionofrenewableenergy(mostlysolar).

SDG12, which focuses on responsible consumption and production, demands thatcompaniesshouldbeencouragedtoadopttheCircularBusinessModel(thatis,keepingmaterialsinuseforaslongaspossible);uselessenergyandmaterialaswellasproducelesswaste;providesolutionsfortrackingandreportingonsustainabilityofproductionand consumption (UNGC, 2017). In this context, the relevant sustainability practicesobserved by theBSE-listed companies includewater conservation through the use ofgrey water, recycling water, rain water harvesting; reduction of waste paper via theadoptionofpapersavingprintingtechniques,paperrecycling;reductionofgeneralsolidwasteviawasteseparationforpurposesofrecycling(therecyclingofsolidwastedoesnot occur insitu for themajority of the companies but instead taken to appropriateplaces).

SDG13, which addresses climate action, prompts companies to devise innovativesolutionstocutemissions;contributetoclimatechangeawareness;buildresiliencetoenvironmentalhazards; improve thecarbonefficiencyofownoperations; source low-carbonmaterials and energy inputs from renewable sources; and reduce the carbonfootprintoverthelifecycleofproductsandservices(UNGC,2017).SomepracticalstepsthatBSE-listedcompanieshaveadoptedincludevirtualmeetings;paperlessbanking,e-

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invoicing; fleet management; measuring company carbon footprint; certification (e.g.greenbuildingaccreditation);employeeengagementonenvironmentissues;anduseofgreenbuilding/facilities.

SDG15paysattentiontothewellbeingofterrestriallife;lifeonland.Contributionbytheprivate sector to this endeavour, therefore, include investing in land remediationandrehabilitation activities; protecting habitats and implementing restoration projects aswell as relevant research and development (R&D); and putting in place policies andprogrammes that protect the environment from business operations (UNGC, 2017).Relevant steps taken by the BSE-listed companies include offering support toconservationgroups;makingcleanupcampaigns;engaging in treeplantingactivities;using monitoring systems that allow for measuring sustainability issues such as theSocial andEnvironmentalManagement System (SEMS) and SustainabilityAssessmentMatrix.

Socialdimensionsofsustainability

SDG1aimstoendpovertyinallitsforms.Thegoal,therefore,enjoinsbusiness-relatedactions that seek the creation of decent jobs (including decent working conditions),economic empowerment of vulnerable groups, and production of goods and servicesaimed at improved livelihoods (UNGC, 2017).Most of the companies analysed in thisstudyengageinactivitiesrelatedtothisgoalthroughtheirCSI/CSRactivities.Themostcommon activities among the BSE-listed companies include upholding appropriateemployee health and safety standards; adopting strategies for employee professionalgrowth and development; ensuring financial inclusion for women and youth; andprovidingthethreebasicneedsofmanwhichareshelter,foodandclothingtothelessprivileged.

SDG3focusesongoodhealthandwellbeing.UNGC(2017)outlinescompanyandsupplychainmanagementoperationsaimedatenhancinghealthycommunitiesandemployees;adopting products, services and business models that facilitate improved healthoutcome;andpromotinghealthybehavioursandaccesstohealthcareaswaysinwhichcompaniescouldsupportSDG3.TheBSE-listedcompaniesobservethesebypartneringwithstakeholdersthatraiseawarenessforspecifichealthconditionssuchascancerandHIV/AIDS;sponsoringsportingactivitiesandsportdevelopment;providingshelterandfood; and ensuring the disclosure of information on sensitive ingredients aimed atprotectingconsumers.

SDG4, which focuses on quality education, is facilitated through accessibility tovocational training and lifelong learning opportunities to employees across businessandsupplychain;employeewagesthatareenoughtosupportdependents’educationtofacilitate zero child labour; support for higher education and access to free andequitable primary and secondary education (UNCG, 2017). The profiling exerciseoutlines social sustainability practices among BSE-listed companies to include the

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implementationofschoolbuildingsrefurbishmentsandmaintenance(e.g.librariesandclass rooms), provision of school learning supplies and equipment (books andcomputers); implementationof literacyprograms;provisionofgraduate scholarships;enhancementoffinancialliteracy;implementationofthe‘adoptaschool’programs;andestablishmentsofeducationtrusts.

SDG5 advocates for gender equality though appropriate policies and practices thatprevent gender based discrimination; promotion of gender balance at all levels; andinvestment in gender equality projects and advocacy.Nonetheless, there are no clearsustainability practices identified in line with this goal during the company profilingexcept for activities geared towards empowerment through enterprise developmentandfinancialinclusion.

Corporategovernancedimensionofsustainability

SDG8 focuses ondecentwork and economic growth, calls for theprovision of decentworkingconditions,educationandtrainingfortheemployeesandvulnerablegroupsofthe community; and investment in research and development, skills upgrading andgrowing businesses (UNGC, 2017). The sustainability practises observed by the BSE-listed companies include theenhancementof access tohealth facilitiesbyemployees;creation of employee awareness on non-communicable diseases; provision of adedicated office to sustainability issues; and holding management accountable forsustainabilityperformance.

SDG17emphasisespartnershipsforalltheSDGs,whichentailresourcemobilisationforthe attainment of the other 16 goals; technology development, and capacity building(UNGC,2017).BSE-listedcompanies’contributiontothisaspectincludetheprovisionofgrants toenvironmentalgroups;and formingpartnershipswith farmingcommunities,healthassociationsandgovernmententities.

5.1EXISTINGGAPSINSUSTAINABILITYACTIVITIES

While several of the profiled BSE-listed companies have made some giant strides inobservingtheUNsustainabilityagendaastheyapplytotheSDGs,thereareanumberofareaswhichareyettobe[adequately]addressedbythem. Thesepertinentissuesarediscussedbelow:

5.1.1LISTEDCOMPANIES’CONCEPTUALISATIONOFSUSTAINABILITY

The way a company perceives the concept of sustainability would determine howsustainabilityissuesareaddressedinthecompany’soperationsandpolicies.Thesurveyresearch findings revealed varying perceptions of sustainability across the BSE-listedcompanies. Inmost instances,sustainabilitywasassociatedwitheitherenvironmental

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protectionorsocialupliftment.Therewerefewinstanceswhereallthethreepillarsofsustainability (environment, social equity and economic development41) were takeninto consideration by the respondents as reflected in the way they explained theconcept.Equally,inseveralcases,practicesarelimitedtoCSR/CSI,withoutembeddingitintotheirbusinessstructuresandmodels.WhileCSR/CSIispositive,itisdependentonwhetherornotacompanyisnotdoingwellfinancially.CSRbudgetsusuallyshrinkwith profits, while sustainability issues like energy, community welfare, waterefficiency,employeewelfareandothersarestillimportanttobusinessandsocietywithloworhighprofits.

5.1.2SUSTAINABLEFINANCINGANDINVESTMENT

Companies listedonstockexchangesraisecapitalwhichtheycaninvesttogrowtheirbusiness. How they invest the money is key to sustainability in terms of the social,economicandenvironmentaloutcomesoftheprojectstheyinvestin.Mostcompaniesinthestudydonotrelatetheirsustainabilitypracticestotheirinvestmentprofile.Thus,anarea that can be strengthened is for companies raising capital through the BSE toproactivelyinvestinprojectsthataresustainable,andforthoseinthefinancialservicessectorto includesustainabilityprovisions intheir financingprogram.ThiswillensurethattheprojectstheyfinancealsoyieldESGbenefits,beyondthefinancialinstitution’sownsustainabilitypracticessuchaswaterandenergyconservation.

5.1.3SUSTAINABILITYREPORTING

One of the ways in which various stock exchanges encourage companies to achievesustainabilityisthroughvoluntaryreportingonESGinformation.Areviewoftheannualreportsoftheprofiledcompaniesrevealedthatwhereasinsomeinstances,theCSI/CSRreportwasusedinterchangeablywithsustainabilityreport, thesustainabilityandCSRcomponents were distinctly delineated in the annual report in other cases. It is alsoinstructivetonotethatinsomeinstances,thesustainabilitycomponentonlycoverstheenvironmentalaspects.SSE(2015)pointsoutthatsustainabilityreportingcanbedoneas a stand-alone component in which the reports address relevant ESG informationneeds; financial reporting integrated with material ESG factors in which certain ESGfactors are included in financial reports; integrated reporting which covers theorganisation’s strategy, governance, performance in the context of its externalenvironment.

41https://www.mcgill.ca/sustainability/files/sustainability/what-is-sustainability.pdf

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5.1.4DEDICATEDSUSTAINABILITYPERSONNEL

Fewofthecompanieshavededicatedstaffresponsiblefortacklingsustainabilityissuesthataffect thecompany.This is crucial foreffective internalisationof sustainability incompanyPPPs.Thisalsoappliestodevisinginnovativewaysinwhichtheorganisationscould derive sustainability gains while contributing to the global attainment of thesame.

5.1.5SUSTAINABILITYPRINCIPLES

In order for the BSE to drive a consistent sustainability agenda, it will need to rallycompanies around a set of voluntary principles that guide companies towards bestpractices,whilethespecificswilldependonindividualcompanies.ThiswillgivetheBSEapointofreferencefordifferentcompanies,andtheabilitytogaugetheirprogress.Inthisregard,aseparatesetofprincipleshasbeenproposedfollowingthisstudy,andisattached separately. The BSE can promote these principles and, together with otherguidancetools,encouragecompaniestomakevoluntarysubscriptiontotheprinciples.Tominimisetheburdenoncompanies,theprincipleshavebeenkeptsimpleandlimitedtothoseapplicabletoBotswana.

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6.0 CONCLUSION

TheprivatesectorispivotaltodrivingSDGsinanygivencountry.Thisprofilingexercisehas highlighted the sustainability landscape of in the BSE-listed domestic companies.Nonetheless,anumberofcompaniesdonothavespecificsustainabilitypoliciesbecausethey are still not fully conversantwith the issues aswell as the global agendaon theSDGs,andthushaveadoptedmostlyisolatedpracticesthatarenotentirelyintegratedinto their business operations. Conversely, other companies, which have recognisedsustainability as key to their business, have adopted some practices, but have notattained the level of reporting and accounting for sustainability. Indeed, there arecompanies that are well advanced, and have actually adopted some global reportingsystems, which have earned them international recognition in the internationalfrontiers. The findings of this profiling exercise will provide a basis for the BSE andUNDPtoworkwithcompaniestoreachtheirfullsustainabilitypotential.

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7.0ACKNOWLEDGEMENTS

Thefollowingaregratefullyacknowledgedfortheirvaluablecontributiontothiswork:

Professor Oluwatoyin Dare Kolawole for reading the report and providing valuablecomments and mentorship support; the supervisory team comprising experts fromUNDP, BSE and Department of Environmental Affairs; Experts from University ofBotswana and Gaborone Declaration for Sustainability in Africa Secretariat whocontributed to the brainstorming exercise for the development of the referencesustainabilitypracticeswhichformedthebasisfortheprofilingexercise.

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PROFILING PRIVATE SECTOR _Final_Feb_2018.pdf · 1.1background: stock exchanges and sustainability Stock exchanges play a critical role as change agents that catalyse the uptake of