Barloworld will continue to pursue sustainable value creation initiatives mindful of its obligations to all stakeholders. It understands the long-term consequences of its activities and will conduct its operations in a manner that ensures economic, social and environmental harmony.

This approach is entrenched throughout the group through its value creation philosophy, its strategic framework, code of ethics and is underscored by its 10 Pillars of sustainability.

Climate change and related activities will continue to receive focus as current initiatives are improved and refined. In particular, the group’s carbon footprint will receive close attention with the understanding that product lifecycle and supply-chain aspects need to be addressed. Related risks and opportunities will be reviewed in terms of the group’s established risk assessment processes and identified matters will be addressed.

Aspirational targets have been set for efficiency improvements in energy consumption and carbon emissions. These will focus attention and direct activity. These targets will continue to be assessed and monitored in terms of emerging international and national obligations as well as local industry and operational requirements. They will be adjusted if necessary.

Water is identified as a scarce resource, the consumption of which also requires close attention and monitoring. Relevant targets and related recycling initiatives will be considered. Waste management will continue to concentrate on recycling initiatives, particularly relating to waste oil, and the legitimate disposal of hazardous waste.

Corporate governance is central to the group’s activities in all geographies of operation. In addition to adherence to legislation, the group’s behaviour is informed by its commitment to the UN Global Compact, its code of ethics and policies which together set the standards of conduct required from all employees.

Stakeholder engagement is a priority in the group on the understanding that Barloworld’s success is inextricably intertwined with that of its stakeholders. Understanding and addressing their requirements ensures sustainable development for all.

All these aspects are included in the group’s strategic planning process, distilled into group strategic focus areas, incorporated into critical success factors and implemented by employees through the comprehensive employee value creation approach.

Ongoing review and refinement of the group’s activities, together with a holistic perspective of responsible corporate citizenship, will ensure Barloworld creates sustainable stakeholder value which will be reported in an integrated, transparent and accurate manner with third party assurance of material aspects.

Barloworld understands that legitimate value creation is not achieved by pursuing short-term objectives for a narrow range of interest groups. The interests of all stakeholders must be balanced and all should derive lasting benefit. This is the cornerstone of the group’s sustainable development philosophy and the value creation approach it will follow into the future.

Team Barloworld has ridden its last race The Tour of Britain’s final stage in September was won by team sprinter Michele Merlo in front of massive crowds on the streets of London. It ended one of the most successful corporate sponsorships ever undertaken. Over seven years Team Barloworld won races all over the world, ensuring that Barloworld became a household name in the group’s global target markets. A phenomenal return on total sponsorship of 27 to 1 and an estimated media exposure of some R3.6 billion underscores the value created from this sponsorship. All of Barloworld’s stakeholders benefited from the team’s success with co-sponsoring principals’ brands enjoying extensive media exposure, customers attending prestigious cycling events, employees excited and united behind their team, and a sense of pride from a South African base who tended to regard Team Barloworld as their own. It is also a story of commitment, resolve, dedication and loyalty: strong Barloworld characteristics that saw the company stand by its team through victorious as well as difficult times. The team has dispersed, and no doubt individual members will go on to achieve success with new teams. However, the memory of Team Barloworld and its indelible mark on all our stakeholders remains and will be remembered for years to come.