ESG, TRANSFORMATION AND DEVELOPMENT
We cannot underplay the significance of Transformation on the South African Economy. Having conducted business in 33 countries across Africa, we are well aware of the discrepancies in the distribution of wealth on the continent and part of Summit’s key investor objectives is the business transformation of the communities and sectors in which it participates.
We ascribe to the principles of Broad Based Black Economic Empowerment and identified with all segments of the Codes and Charters that relate to BBBEE. As an investor and economic player we will seek ways to drive the BBBEE agenda by looking to deliver the following in its investments:
A key contribution of Summit’s investment objectives is to social development and inclusive transformation of the South African economy.
The said UN PRI principles are:
As a responsible corporate citizen, Summit will not consider partnerships or investments into any company engaged in any of the following practices:
- Cross-border trade in waste and waste products, unless compliant with the Basel convention and the underlying regulations
- Destruction of high conservation value areas
- Radioactive materials and unbounded asbestos fibers
This does not apply to the purchase of medical equipment, quality control (measurement) equipment or any other equipment where the radioactive source is understood to be trivial and/or adequately shielded.
- alcoholic beverages (except beer and wine);
- weapons and munitions;