2020 Integrated Annual Report

and Consolidated & Separate
Financial Statements

Environmental social and governance reporting

Chair Social and Ethics committee

Report from the chair of the Social and Ethics committee

Hyprop is committed to corporate sustainability and actively considers its social, economic and environmental responsibilities, implements ethical practices and good governance and understands its impact on the natural environment.

We endeavour to integrate sustainability considerations into every aspect of the business environment. Initiatives cover improving recycling, reducing waste, managing assets to be more energy and water efficient and reducing carbon emissions in line with national targets.

We are cognisant of the need to preserve and develop our human capital resources and to manage our financial resources in a prudent and responsible manner.


The Social and Ethics committee is a statutory committee of the board and assists the board in integrating Hyprop’s values and ethics into the Company’s growth strategy. The committee is formally appointed as provided for in the Companies Act and King IV.

The committee is chaired by Nonyameko Mandindi and its membership includes CEO Morné Wilken and CFO Brett Till. Members of the executive are invited to attend meetings, which are held twice a year. Attendance at committee meetings is set out on Our board.

A key component of Hyprop’s business strategy is to be a responsible and accountable corporate citizen that contributes to the economic development of the countries in which it operates. The committee monitors the Group’s social, environmental and economic development activities.

The role of the committee

The committee has an independent role with accountability to the board. It does not assume the functions of management, but rather assists the board with the oversight of social and ethical matters in respect of the Group.


The committee’s responsibilities include:

  • social and economic development
  • good corporate citizenship
  • the impact of the Company’s activities on the environment
  • public health and safety
  • consumer relationships, and
  • fair labour and employment practices.

Good corporate citizenship

Essential to the function of the Social and Ethics committee is the promotion of ethical leadership, integrity, compliance with applicable legislation, anti-corruption, sustainability, value creation, equality, preventing discrimination and contributing to the development of the communities in which Hyprop’s shopping centres are situated.

Our environment

As a landlord, Hyprop has a low environmental impact, and aims to reduce this further in its operations. Details of our environmental impact and projects to reduce this are found on Our Environment.

The committee reviews the environmental policy biannually and reports to the board.

Our people

The committee is provided with reports from the human resources department regarding labour and employment, education and skills development. The detailed human capital report is set out on Our People.

Our communities

The Group encourages and supports the participation of its people in community upliftment initiatives.

A variety of initiatives and projects were undertaken during the year and aligned with the United Nations Sustainable Development Goals (UN SDG’s). Details of our initiatives are set out on Our Communities.


Broad-based black economic empowerment and employment equity are reviewed by the committee. Key elements of the Group’s employment equity and BBBEE initiatives are included in the human capital report.

Stakeholder relations

The committee is involved in ensuring that communications to stakeholders are transparent and appropriate. The committee is available to shareholders at the annual general meeting.

Code of conduct

The committee monitors compliance with Hyprop’s code of conduct and ethics and other relevant social, ethical and legal requirements, as well as best practice.

The Hyprop code of conduct is based on the fundamental belief that business should be conducted ethically, fairly and legally. The primary purpose of the code is to promote exemplary conduct that will allow the Company to:

  • be a leading shopping centre fund that meets global standards
  • create unique shopping experiences, jobs, community, sustainability, and a deep skills base
  • be the partner of choice for tenants, shoppers, employees and investors alike
  • provide a trustworthy, transparent and sustainable investment case; and
  • ensure social and environmental sustainability.

Committee assurance

Hyprop’s Social and Ethics committee is satisfied that it complied with its material legal, regulatory, and other responsibilities during the current financial year.