Integrated Report 2021

Our stakeholder relationships

The purpose of our stakeholder management is to deliver value for stakeholders and contribute meaningfully to the societies in which we operate. Our ongoing engagement with each group of stakeholders is designed to address their needs and expectations.

Our approach

We adopt a consultative approach to stakeholder engagement, with the aim of developing and achieving an accountable and strategic response. We consider stakeholder trust and confidence in our group to be fundamental to the sustainability of our business.

Our approach to engagement

While our approach to engagement has always included our corporate website, our interim and annual reporting, electronic announcements, which include the Stock Exchange News Service (SENS), previously we focused on one-on-one, face-to-face engagements with our key stakeholders and roadshows whenever possible. The Covid-19 pandemic changed this with online electronic engagement becoming the norm. Hopefully, we will start to see a return to face-to-face engagement in the near future.

Materiality

Through an annual consultation process with our stakeholders, both internal and external, we determine what is material with regard to the needs and expectations of both the group and its stakeholders. Recent events, including the Covid-19 pandemic, have resulted in changing stakeholder expectations placing an increasing focus on expectations around the social roles of corporates and a broader approach to shared value, which require addressing through our role as a responsible corporate citizen.

Responsibility for stakeholder engagement

Responsibility for stakeholder relations is delegated to group functions and our business units. The group ensures that appropriate stakeholder consultation policies, practices and reporting procedures are in place in order to:

  • establish clear accountability for effective stakeholder engagement
  • comply with relevant laws governing stakeholder relationships and the various standards and codes of practices to which Barloworld subscribes
  • promote awareness in our operations and functions of the importance, value and methodologies for stakeholder consultation and relationship management, underpinned by adherence to the principles of inclusiveness, materiality and responsiveness.

The sustainable value we create for our key stakeholders through commitment to being a responsible corporate citizen is addressed in the Creating sustainable value section of this report.

Our stakeholder relationships  

Material matters

  • Sustainable financial returns
  • Progress with optimisation of existing businesses
  • Implementation of disposals
  • Integration of new acquisitions
  • Acquisitive growth strategy
  • Dividend performance
  • ESG performance

Value added

  • Increase in NAV
  • Strong balance sheet
  • Dividend payments
  • Reduced operating costs
  • Acquisitive growth bringing positive contribution to group performance
  • Share price performance
LA PwC Limited Assurance
  Our stakeholder relationships
 

Material matters

  • Safety, health and wellness
  • Open and transparent leadership engagement
  • Fair remuneration and effective performance management
  • Diversity and inclusion
  • Career development and opportunities

Value added

  • Contributing to the overall wellness
    of our employees during the pandemic
  • Improved employee engagement
  • Recognising and rewarding winning behaviours
  • Good progress with diversity and inclusion and recruiting to achieve diversity and inclusion
  • Learning, coaching and developing
    to unleash employees’ full potential

Our stakeholder relationships
 

Material matters

  • Impact of Covid-19 on product availability and our ability to operate
  • After sales support
  • Customer service that delights
  • Pricing
  • Availability of technology and digitisation for increased efficiencies and service delivery
  • ESG performance

Value added

  • Innovative solutions to protect Car Rental and Leasing from impact of Covid-19 and provide customers
    with value for money
  • Innovative solutions to reduce our impact on the environment
  • After sales support

 

 

Our stakeholder relationships
 

Material matters

  • Efforts to limit Barloworld’s environmental footprint
  • Social investment
  • Business transformation
  • Preferential procurement opportunities
  • Inclusion

Value added

  • Transformation through the establishment of Khula Sizwe Property Holdings
  • Investment in SMMEs through Barloworld Siyakhula enterprise and supplier development programme
  • Preferential procurement spend with B-BBEE businesses
  • Driving economic sustainability, transformation and growth of social enterprises through Mbewu
  • Focus on addressing education needs and food security through Barloworld Trust

 

Our stakeholder relationships
 

Material matters

  • Ability of partners to provide products with a reduced impact on climate change
  • Ability of partner delivery not to be impacted by supply challenges during Covid-19
  • Payment and contractual terms
  • Sustainability of relationships
  • Value-added by partnerships
  • Business resilience and sustainability
  • Procurement opportunities
  • Market and industry developments

Value added

  • Opportunity for both partners to
    grow through beneficial partnerships
  • Opportunity through partnerships
    to expand geographically
  • Lengthy enduring partnerships provide ongoing value to both parties
  • Extensive knowledge of markets
 

Our stakeholder relationships
 

Material matters

  • Compliance with all relevant legislation and regulations in the countries in which we operate
  • Responsible taxpayer
  • Governance demands
  • Role as responsible corporate citizen

Value added

  • Contribution to the economies of the countries in which we operate through the taxes and wages we pay
  • Provision of employment opportunities
  • Investment in communities
  • Preferential procurement
  • Investment in skills development