Sustainability Report 2012 - Transnet

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Main area ofStakeholder group How Transnet engages stakeholder concernEmployees, labour Strategic leadership Dignity and respect.unions and pensioners forum. Safety. Transnet Training and skillsRestructuringdevelopment.Committee. Remuneration. National BusinessCommittees. Culture. Local Business Queries from formerCommittees.employees onwhether they qualify Internet/intranet.for pensions. Memoranda from In November 2010,the GCE.the Portfolio Culture CharterCommittee on Publicchampions.Enterprises Correspondence withrecommended thatpensioners and fundcertain enhancedadministrators.benefits beimplemented for the Engagement with the pensioners of thePortfolio Committee Transnet Secondon Public Enterprises Defined Benefittogether withFund and thedefined benefitTransnet Sub-Fundpension funds.of the TransportPension Fundcomprising thepayment of fivemonths’ pensionbenefits as a bonus,an uplift of the basepensions andCPI-linked increases,targeting 75%of CPI.Transnet’s response Investing inemployee safety anddevelopment. Maintaining aperformance systemthat supportscontinuousimprovement. Informing employeesof key strategicinitiatives, policiesand procedures thatimpact theworkforce. Social responsibilityand reputationmanagement. Both funds haveprovided bonuses totheir pensioners offive months’ pensionbenefits. Neitherfund will implementa base uplift, as thisis tantamount toadjusting the salaryof employees at dateof retirement, andnot within the ambitof the funds. Bothfunds, which havead hoc bonus rules,will seek to payannual bonuses totheir pensioners thatresult in an annualincrease in pensionreceived linkedto CPI.What Transnet hopesto achieve Increase in labourproductivity todeliver on volumegrowth and MDStargets. Labour stability tosupport strategyexecution andcompetitiveness ofSouth Africa’sfreight logisticssystem. Building unionrelationships tosupport labourstability. Collaboration withorganised labour toensure businesssuccess.Sustainability performance: Social dividendsSustainability Report 201263
Social dividends (continued)Stakeholder groupHow Transnet engagesMain area ofstakeholder concernTransnet’s responseWhat Transnet hopesto achieveInvestors Quarterly reports,Annual Report andCorporate Plan. Investor road showsand presentations. Market feedback. Circulate anddistribute mediastatements issuedby Transnet beforethe statements areread in the media. Realising poorreturns on capitalinvestment. Financialperformance– Company’s abilityto deliver on itscommitments as setout in its strategy. Affordability ofcapital investmentplans. Sovereign concernsthat could lead to adowngrade of SouthAfrica andconsequentlyTransnet. Politicalinstability that canimpact interestrates and foreignexchange rates. Policy uncertainty. Regulatory tarifflower thanTransnet needs. Volumes railed lowerthan planned – thusputting pressure onplanned cashflowfrom operationswhich in turnincreases fundingrequirement. Managing cash andworking capitalproactively. Diversifying sourcesof funding. Seeking innovativemeans for PSP. Exploring possibilityof ‘off-balancesheet’funding. Continued supportand access to costeffective funding tomeet requirements. Betterunderstanding ofTransnet strategy. Enable investors tofeel comfortable toengage when they sorequire.Communities Partnerships,awareness. Campaigns. CSI initiatives. Employmentopportunities. Environmentalimpacts. Supporting keycommunitydevelopment issues. Beneficiation. Sustaining CSIinitiatives. Fostering mutuallybeneficialrelationships. Supportingcommunities in areasof operation. Demonstratingprinciples ofaccountability andcare. Increasing reach ofbeneficiaries. Identify and impartskills to potentialsuppliers atcommunity level,thus contributing tothe transformationof suppliers. A deeperunderstanding ofcommunity interests. Building trustedrelationships. Ensuring sustainablecommunitydevelopment, bybuilding trust withincommunities whereTransnet hasestablished CSIprogrammes.64
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NATIONAL PORTSAUTHORITYSALDANHAPORT
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Page 80 and 81: GRI tableG3 indicatorReference3.6 B
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Page 88 and 89: GRI tablePR2G3 indicatorTotal numbe
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Sustainability Report 2012 - Transnet

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