MASSMART ACHIEVES “BEST PERFORMER” RATING IN JSE SOCIALLY RESPONSIBLE INVESTMENT (SRI) INDEX ASSESSMENT
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Massmart has been recognised as the best performer in the medium environmental impact category of the JSE’s 2007 Socially Responsible Investment (SRI) Index. The Index, which assesses the triple bottom line and governance performance of listed entities, classifies companies as having ‘high environmental impact’ (mining sector), ‘medium environmental impact’ (retailers) and ‘low environmental impact’ (financial sector).
A total of 72 listed companies were assessed, of which 65 were companies listed on the all-share index. In the end 57 companies qualified for inclusion in the 2007 SRI Index. Massmart was one of 14 companies that were recognised as ‘best performers’ for their demonstrated commitment to triple bottom line and good governance practice.
“We are delighted at this recognition as we understand the importance of being proactive in all areas of sustainability. In terms of environmental good practice, our first bi-annual environmental consumerism survey provided valuable insight into the environmental expectations of our customers. This insight, together with research into the environmental practices of our major suppliers and international retail peers has enabled us to formulate a workable environmental framework for the Group,” says Grant Pattison CEO of Massmart.
“The decision to automatically assess the Top 40 and SRI Index companies is in line with global trends and in response to a call from investors to increase transparency around the universe of companies that is being assessed,” says Corli le Roux of the JSE.