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374 Boundary Road
North Riding, Randburg.

P O Box 2913
North Riding, 2162

Tel: 071 674 6392 (from 08:30 - 13:00)

Fax: 086 646 7754

E-Mail: admin@saifundraising.org.za 

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Implications of King III for NPOs

KEY PRINCIPLES OF THE KING III

The draft states:

Good governance is essentially about effective leadership. Leaders need to define strategy, provide direction and establish the ethics and values that will influence and guide practices and behaviour with regard to sustainability performance.

Sustainability is the primary moral and economic imperative for the 21st Century, and it is one of the most important sources of both opportunities and risks for businesses. Nature, society, and business are interconnected in complex ways that need to be understood by decision makers.

Innovation, fairness, and collaboration are key aspects of any transition to sustainability – innovation provides new ways of doing things, including profitable responses to sustainability; fairness is vital because social injustice is unsustainable; and collaboration is often a prerequisite for large scale change.

Integrating sustainability and social transformation in a strategic and coherent manner will give rise to greater opportunities, efficiencies, and benefits, for both the company and society, than the fragmented and at times contradictory approach currently adopted by many companies.

King II explicitly required companies to implement the practice of sustainability reporting as a core aspect of corporate governance. Since 2002, sustainability reporting has become a widely accepted practice and South Africa is an emerging market leader in the field (partially due to King II). However, sustainability reporting is in need of renewal in order to respond to:

• The lingering distrust among civil society of the intentions and practices of big business and;

• Concerns among business decision makers that sustainability reporting is not fulfilling their expectations in a cost effective manner.

Scenes from the King III Seminar - 27 January 2010

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Visit the website of SAIF KZN

Scenes from the KZN Bequest Workshop held at Africa Enterprise
on 19 September with speaker Wendy McLeod of DMI

Down to Business!

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Visit the Western Cape Facebook page! - click here

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