Growthpoint first SA-listed property company on SRI index

Posted On Thursday, 03 December 2009 02:00 Published by
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SA’s largest listed property group, Growthpoint Properties, made its debut on the JSE’s socially responsible investment index.

By Thababg Mokopanele

SA’s largest listed property group, Growthpoint Properties , yesterday made its debut on the JSE’s socially responsible investment (SRI) index, based on its positive environmental, social and economic sustainability practices and corporate governance.

This is the first time that an SA- listed property company has been included in the index.

“As a listed property company, Growthpoint is aware of its responsibility to manage any direct impacts it may have on communities and the environment. We are proud that our governance, strategies and sustainability have been acknowledged for inclusion in the SRI index,” said CEO Norbert Sasse.

The JSE SRI index was launched in May 2004 in response to the debate around sustainability globally, and particularly in the South African context.

The index has been a driver for increased attention to responsible investment into emerging markets such as SA.

Inclusion in the SRI index has advantages for companies and offers investors a tool to use in determining company value.

Growthpoint has local assets exceeding R29,2bn and a market capitalisation of more than R20bn. It has a portfolio of 438 retail, office and industrial properties across SA producing gross revenues of more than R3,5bn.

To join the SRI index, companies must demonstrate a high standard of reporting and performance in environmental, social and corporate governance areas.

The JSE reports that Growthpoint was assessed according to themes and frameworks that are globally aligned while still taking into consideration locally relevant themes such as HIV/AIDS and black economic empowerment.

The research process for the SRI index involved a review of publicly available company information as well as profile and survey responses from companies taking part in the review.

Companies can use the index criteria as the accepted mainstream benchmark in SA, against which good triple bottom-line practices are measured. Investors can use it as a practical investment tool backed by robust research.

“We are committed to sustainable business practices and transparent reporting and will continue to strive to meet these challenges on all levels,” said Sasse.

Source: Business Day

Publisher: I-Net Bridge
Source: I-Net Bridge

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