“The best definition of a business I have heard of is that it is an institution
which serves the community honourably at a profit.” (Dr Anton Rupert – 1990)
Pembani Remgro enforces a sustainable investment strategy on each investment it manages. When assessing the sustainability of portfolio investments, this proactively includes Environmental, Social and Governance (“ESG”) factors.
Pembani Remgro’s ethos is that of a long-term investor making significant investments that must be sustainable. Good governance is part of Pembani Remgro’s core value system, as instilled in Pembani Remgro by the founding shareholders. We regard ourselves as responsible corporate citizens and investors. Pembani Remgro and the general partners through which it functions have a fiduciary duty to act in the best interests of its investors, who depend on the responsible management of fund assets.
Pembani Remgro recognises that, while investment opportunities stem from a social need, they are only achievable through the provision of capital by investors who require financial returns. Thus Pembani Remgro seeks to achieve the following financial and non-financial strategic objectives:
- Building prosperous and sustainable economies through the provision of infrastructure and related services;
- Avoiding or mitigating any potential adverse ESG risks and impacts, but also identifying ESG opportunities of any projects;
- Maximising the potential social benefits of projects in Africa as a vital component to building Africa’s economy; while
- Delivering financial returns to our shareholders.
Pembani Remgro commits to:
- Undertake its activities in line with applicable International Finance Corporation Performance Standards and industry good practice;
- Meet the requirements of national legislation in all the countries in which the Fund is to invest;
- Foster value-driven ethical behaviour and good governance practices, informed by respect for human rights;
- Ensure social and environmental impacts are avoided or reduced as far as practicable;
- Communicate and work closely with developments all stakeholders to ensure their understanding and shared commitment to conformance with this policy; and
- Implement all reasonable precautions to protect the health and safety of the portfolio company’s employees and promote the health and safety of contracted workers.
Pembani Remgro undertakes to:
- Identify and assess environment, social and governance (including business integrity) impacts, both adverse and beneficial, in Pembani Remgro’s area of influence;
- Avoid or, where avoidance is not possible, minimise, mitigate, or compensate for adverse impacts on workers, affected communities, and the environment;
- Ensure that affected communities are appropriately engaged on issues that could potentially affect them; and
- Promote improved ESG performance of companies through the effective use of management systems and legally binding action plans.