!Khi Solar One

Once completed, this concentrated solar tower power station will be one of the largest in the world. One of the benefits of this project relative to most other renewable energy projects is its ability to store energy and to deliver electricity to the grid during peak times.

GRI checklist

GRI      Section/comment   Page  
1. Strategy and analysis        
Profile disclosure        
1.1   Statement from the most senior decision-maker of the organisation   Chairman’s statement   28 – 31  
1.2   Description of key impacts, risks, and opportunities   Key achievements and challenges
Mitigating key risks  

16 – 18  
2. Organisational profile        
2.1   Name of the organisation   Corporate profile   2 – 3  
2.2   Primary brands, products, and/or services   Strategy pillars. Our main business and funding activities   5  
2.3   Operational structure of the organisation, including main divisions, operating companies, subsidiaries and joint ventures   Group and operational structure    6  
2.4   Location of organisation's headquarters   Operational footprint   7  
2.5   Number of countries where the organisation operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report   Selected project footprint in the rest of Africa   87  
2.6   Nature of ownership and legal form   Corporate profile   2  
2.7   Markets served (including geographic breakdown, sectors served and types of customers/beneficiaries)  Our main business and funding activities   7  
2.8   Scale of the reporting organisation   Corporate profile   3 – 7  
2.9   Significant changes during the reporting period regarding size, structure or ownership   None     
2.10   Awards received in the reporting period   DFI of the year by Association of Black Securities and Investment Professionals. Economist of the year by Thompson Reuters and by Sake 24     
3. Report parameters        
3.1   Reporting period (e.g. fiscal/calendar year) for information provided   About this report   IFC  
3.2   Date of most recent previous report (if any)  The last report was issued for the year-ended 31 March 2012   IFC  
3.3   Reporting cycle (annual, biennial, etc.)  About this report   IFC  
3.4   Contact point for questions regarding the report or its contents   About this report   IFC  
3.5   Process for defining report content   Stakeholder engagement
Mitigating key risks
Material issues  
12 – 15
16 – 18
19 – 21  
3.6   Boundary of the report (e.g. countries, divisions, subsidiaries, leased facilities, joint ventures, suppliers). See GRI Boundary Protocol for further guidance   About this report   IFC  
3.7   State any specific limitations on the scope or boundary of the report

(see completeness principle for explanation of scope)  

About this report   IFC  
3.8   Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations, and other entities that can significantly affect comparability from period to period and/or between organisations   About this report   IFC  
3.9   Data measurement techniques and the bases of calculations, including assumptions and techniques underlying estimations applied to the compilation of the Indicators and other information in the report. Explain any decisions not to apply, or to substantially diverge from, the GRI Indicator Protocols   As far as practicable, GRI Indicator

Protocols were followed. Added IDC own where practical  

3.10   Explanation of the effect of any re-statements of information provided in earlier reports, and the reasons for such re-statement (e.g. mergers/acquisitions, change of base years/periods, nature of business, measurement methods)  There were no re-statements     
3.11   Significant changes from previous reporting periods in the scope, boundary or measurement methods applied in the report   Reported on some subsidiaries   143 – 145  
3.12   Table identifying the location of the Standard Disclosures in the report   GRI checklist   168 – 169  
3.13   Policy and current practice with regard to seeking external assurance for the report   Board Audit Committee decision   156  
4. Governance, commitments and engagement        
4.1   Governance structure of the organisation, including committees under the highest governance body responsible for specific tasks, such as setting strategy or organisational oversight   Corporate governance   32 – 35
41 – 43
146 – 159  
4.2   Indicate whether the Chair of the highest governance body is also an executive officer   The Chairman of the IDC Board is non-executive   147  
4.3   For organisations that have a unitary board structure, state the number and gender of members of the highest governance body that are independent and/or non-executive members   Board of directors   147  
4.4   Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body   Stakeholder engagement   12 – 15
4.5   Linkage between compensation for members of the highest governance body, senior managers, and executives (including departure arrangements), and the organisation's performance (including social and environmental performance)  Board of directors   153  
4.6   Processes in place for the highest governance body to ensure conflicts of interest are avoided   Ethics policy   148 - 149  
4.7   Process for determining the composition, qualifications and expertise of the members of the highest governance body and its committees, including any consideration of gender and other indicators of diversity   Board of directors   147  
4.8   Internally-developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation   Vision and mission
Corporate profile
Responsible funding
Corporate governance  

3 – 7
146 – 150  
4.9   Procedures of the highest governance body for overseeing the organisation's identification and management of economic, environmental and social performance, including relevant risks and opportunities, and adherence or compliance with internationally-agreed standards, codes of conduct and principles   Corporate governance   150 – 160  
4.10   Processes for evaluating the highest governance body's own performance, particularly with respect to economic, environmental and social performance   IDC Board of directors Board committees   147  
4.11   Explanation of whether and how the precautionary approach or principle is addressed by the organisation   Internal audit function
Risk management framework  
153 – 156
159 – 165  
4.12   Externally-developed economic, environmental and social charters, principles, or other initiatives to which the organisation subscribes or endorses   B-BBEE ratings
Signatory to UNEP-FI
Guided by PFMA  
4.13   Memberships of associations (such as industry associations) and/or national/ international advocacy organisations in which the organisation: * has positions in governance bodies; * participates in projects or committees; * provides substantive funding beyond routine membership dues; or * views membership as strategic   Building partnerships   123 – 127  
4.14   List of stakeholder groups engaged by the organisation   Stakeholder engagement    12 – 15  
4.15   Basis for identification and selection of stakeholders with whom to engage   Stakeholder engagement   12 – 15  
4.16   Approaches to stakeholder engagement, including frequency of engagement by type and by stakeholder group   Stakeholder engagement   13  
4.17   Key topics and concerns that have been raised through stakeholder engagement, and how the organisation has responded to those key topics and concerns, including through its reporting   Stakeholder engagement


13 – 15  
Disclosure on management approach: See our key achievements and challenges here, key trends over the past five years, found here. Overview of the economic and policy operating environment here. The section on investing in the economy, found here, talks to our performance in the past year and the Chief Financial Officer’s report explains how we ensure financial sustainability, found here. This includes a discussion on issues around impairments and concentration risks that have been highlighted as carrying a risk for sustainability. There is also a section on social enterprise which talks to our role in catalysing economic development, found here.  
EC1   Direct economic value generated and distributed, including revenues, operating costs, employee compensation, donations and other community investments, retained earnings and payments to capital providers and governments   IDC value-added statement   88  
EC4   Significant financial assistance received from government   R171 million for sefa funding   91  
EC6   Policy, practices and proportion of spending on locally-based suppliers at significant locations of operation   Preferential procurement   135  
EC8   Development and impact of infrastructure investments and service provided primarily for public benefit through commercial, in-kind, pro bono engagement   Agency development and support   131 – 134
121 – 122  
EC9   Understanding and describing significant indirect economic impacts, including the extent of impacts   Agency development and support   131 – 134  
Disclosure on management approach: See the natural environmental section which is divided into policies and approach where we talk of our environmental and social framework and policies, direct impacts which talk to our own impacts as well industry impact which talks to our funding activities in the green space.  
EN4   Indirect energy consumption by primary energy source   Carbon footprint   141  
EN6   Initiatives to provide energy-efficient or renewable energy-based products and services, and reductions in energy requirements as a result of these initiatives   Industry impacts
Green Industries  
48 – 50  
EN8   Total water withdrawal by source   Direct impact   141  
EN14   Strategies, current action and future plans for managing impacts on biodiversity   Water strategy   141  
EN16   Total direct and indirect greenhouse gas emissions by weight   Carbon footprint   141  
EN26   Initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation   Industry impacts   141 – 142  
Social: Labour practices and decent work        
Disclosure on management approach: The section on investing in human capital talks to various strategies and activities employed by the IDC to attract, develop, and grow its human capital  
LA1   Total workforce by employment type, employment contract and region, broken down by gender   Staff profile   102  
LA3   Benefits provided to full-time employees that are not provided to temporary or part-time employees, by major operations   Recognition and reward   105  
LA6   Percentage of total workforce represented in formal joint management-worker health and safety committees that help monitor and advise on occupational health and safety programmes   Internal health and safety management   103  
LA8   Education, training, counselling, prevention and risk-control programmes in place to assist workforce members, their families or community members regarding serious diseases   People growth and development   104 – 105  
LA10   Average hours of training per year per employee by gender and by employee category   People growth and development   104  
LA11   Programmes for skills management and life-long learning that support the continued employability of employees and assist them in managing career endings   Retire fit   105  
LA12   Percentage of employees receiving regular performance and career development reviews by gender   Talent management and succession   107  
LA13   Composition of governance bodies and breakdown of employees per employee category according to gender, age group, minority group membership and other indicators of diversity   Staff profile   102  
LA15   Return to work and retention rates after parental leave, by gender   100% retention in year under review     
Social: Human rights        
Disclosure on management approach: Issues pertaining to human rights are presently confined to Human Capital. There is a also a policy on grievance, as well as formal processes to deal with these matters.  
HR1   Number of grievances related to human rights filed, addressed and resolved through formal grievance mechanisms   Zero grievances brought against the corporation in the year under review     
Social: Society        
Disclosure on management approach: Refer to the governance section for an outline of the steps that are in place to ensure that we are good corporate citizens, specifically the steps taken to raise awareness of governance within the workplace  
SO2   Percentage and total number of business units analysed for risks related to corruption   Fraud prevention   157 – 158  
SO3   Percentage of employees trained in the organisation’s anti-corruption policies and procedures   Fraud prevention   157 – 158  
Social: Product responsibility        
Disclosure on management approach: See here on stakeholder engagement regarding the actions taken by the IDC to ensure that there is constant feedback between the Corporation and its stakeholders on the services we provide and their expectations.  
PR5   Practices related to customer satisfaction, including results of surveys measuring customer satisfaction   Satisfying customers   115 – 116  

Coega Dairy Holdings

The IDC has identified increased competition in the dairy value chain and import substitution in the cheese industry as key sector development goals. We also singled out the need for increased farmer (and specifically B-BBEE) participation in dairy value-adding initiatives.

Windtown Lagoon Resort 

The newly built Windtown Lagoon Resort and Spa reflects the IDC’s focus to funding community-based projects that have potential to create employment opportunities in far-flung regions.

R13.1 billion
R16.0 billion
18 922
3 950
© The IDC 2013. All rights not expressly allowed are reserved. P.O. Box 784055, Sandton, 2146, South Africa