Naspers Ltd

iFood implemented a number of initiatives to help communities. It introduced an in-app option to donate money to fight hunger in Brazil, as part of each food order. These donations support the NGO Ação da Cidadania, which offe"
"The Naspers's social, ethics and sustainability committee (which reports to the Prosus board on matters relating to Prosus) is responsible for overseeing and reporting on business ethics in the group, taking into account specific disclosures and best practice as recommended by Dutch [...] Reports are provided to the Naspers's social, ethics and sustainability committee to demonstrate this. Unethical behaviour by senior employees is also reported to the human resources and remuneration committee, along with the way the company's disciplinary code was applied. [...] The Prosus board, risk committee and Naspers's social, ethics and sustainability committee exercise oversight of ethics and compliance and the management of these risks across the group.

###### Board and executive level oversight

Climate and sustainability issues are considered at the highest organisational level via the social, ethics and sustainability committee and the risk committee that are subcommittees of the Naspers board. The board is informed about environmental sustainability-related risks and opportunities, in particular climate-related, at all scheduled social, ethics and sustainability committee meetings and risk committee meetings. Our social, ethics and sustainability committee meets at least twice per year to discuss environmental impact performance and progress against targets. The risk committee meets at least three times per year and discusses environmental impact performance. These committees report back to the board meeting.

Our board retains overall responsibility for the oversight of our environmental impact management. The most senior executives have environmental sustainability KPIs as part of their remuneration scorecard which means that part of our chief executive and chief financial officer's variable compensation is tied to achieving specific environmental KPIs. Details and progress are published annually in the remuneration report. The group chief executive and chief financial officer's KPIs are cascaded to all their direct reports, including the chief executive officers of the subsidiaries, putting environmental management firmly on the agenda of these companies.

Sustainability targets are embedded in the annual business-planning process where our subsidiaries finalise their strategies, targets and budgets for the year. In addition to climate KPIs, that are universal, we use materiality to determine other workstreams and objectives. For example, our Etail companies have targets on carbon accounting and GHG reduction, and also work on KPIs on sustainable packaging. The sustainability KPIs are reviewed and signed off at board level.

In addition, our Ventures team also, amongst other things, looks for investments in sustainable start-ups that show growth opportunities. Potential opportunities are being explored in sustainability-native sectors and activities like agriculture technology, alternative proteins, and low-carbon transportation.

Further information regarding our overall corporate governance structure, policies and reporting can be found in [the governance section of our website.](https://www.naspers.com/the-group/governance) [...] Responsibility for the day-to-day management of environmental impact and sustainability topics resides with the executive management team. Our dedicated global head of sustainability leads sustainability activities across the group and reports to the general counsel for the group, who in turn reports to the group's chief executive.

We have defined our principles and approach to environmental impact management at the corporate level. These are cascaded to the group's portfolio companies to adapt and refine their specific business models and operational contexts.

Sustainability professionals at each portfolio business are responsible for the implementation of the environment programmes of those businesses. This group of sustainability accelerators is supported by the group's core sustainability team on topics ranging from the basics of measuring and reporting extended carbon footprints to developing environmental strategies and learning from each other. One unifying group objective is the implementation of our science-based targets and pathways, which each of our subsidiaries is required to define by FY30.

To support the board in fulfilling its governance role, the social, ethics and sustainability committee retains oversight of stakeholder management across the group. To balance the needs, interests and expectations of a diverse group of stakeholders, we take an inclusive approach. [...] The committee fulfils statutory duties set out in regulation 43 of the Companies Act, has oversight of and reports on organisational ethics, responsible corporate citizenship, sustainable development and stakeholder relationships. It assists the board in developing and supervising the implementation of a long-term value-creation strategy, by bringing to the board's attention relevant sustainability matters and other relevant stakeholder interests. [...] Key focus areas during the year › Stakeholder interests and relevant sustainability aspects and matters relating to business ethics and culture and the speak up policy › Skills and other programmes aimed at the educational development of employees › Employment philosophy and how it is founded on promoting equality and preventing unfair discrimination › Labour practices and policies, and how these compare to the International Labour Organization on decent working conditions › Corporate social investment programmes, including details of donations and charitable giving › The progress of addressing the principles of the UN Global Compact and OECD guidelines › Consumer relationships, including the company's advertising, public relations and compliance with consumer protection laws.

###### Board and executive level oversight

Climate and sustainability issues are considered at the highest organisational level via the social, ethics and sustainability committee and the risk committee that are subcommittees of the Naspers board. The board is informed about environmental sustainability-related risks and opportunities, in particular climate-related, at all scheduled social, ethics and sustainability committee meetings and risk committee meetings. Our social, ethics and sustainability committee meets at least twice per year to discuss environmental impact performance and progress against targets. The risk committee meets at least three times per year and discusses environmental impact performance. These committees report back to the board meeting.

Our board retains overall responsibility for the oversight of our environmental impact management. The most senior executives have environmental sustainability KPIs as part of their remuneration scorecard which means that part of our chief executive and chief financial officer's variable compensation is tied to achieving specific environmental KPIs. Details and progress are published annually in the remuneration report. The group chief executive and chief financial officer's KPIs are cascaded to all their direct reports, including the chief executive officers of the subsidiaries, putting environmental management firmly on the agenda of these companies.

Sustainability targets are embedded in the annual business-planning process where our subsidiaries finalise their strategies, targets and budgets for the year. In addition to climate KPIs, that are universal, we use materiality to determine other workstreams and objectives. For example, our Etail companies have targets on carbon accounting and GHG reduction, and also work on KPIs on sustainable packaging. The sustainability KPIs are reviewed and signed off at board level.

In addition, our Ventures team also, amongst other things, looks for investments in sustainable start-ups that show growth opportunities. Potential opportunities are being explored in sustainability-native sectors and activities like agriculture technology, alternative proteins, and low-carbon transportation.

Further information regarding our overall corporate governance structure, policies and reporting can be found in [the governance section of our website.](https://www.naspers.com/the-group/governance)

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]For emissions to be under 1.5 degrees Celsius scenario all actors in society have to play their role. While businesses innovate and transition to lower carbon business models, policy makers & regulators can create the enabling environment for these business models to successfully grow and scale. R&D underpins innovation that businesses deploy. Within our portfolio, we have identified the gaps where policy/regulatory structures could accelerate pace of green transitions. For e.g., there is no global homogeneous regulation related to plastics, which would enable the creation of a level playing field within the food and etail businesses as they seek to replace plastics used in their value chain with viable alternatives. We have commissioned Ubuntoo, a sustainability research firm to conduct a comprehensive landscape analysis of the regulations linked to plastics that in the future we are able to support our portfolio companies in the jurisdictions where they are operating. For companies that operation in multiple jurisdictions, we call for a uniform policy for plastics use that will enable market level adoption of replacement solutions that have global standardizations and certifications.

Further, on setting of science-based targets for companies that straddle more than one industry classification, there is no clear guidance for auditors to interpret the PCAF, SBTI and GHG accounting frameworks. This creates a big hurdle as auditors seek to apply their own interpretation of the guiding frameworks that could largely inhibit or enable a company's ability to set targets which has the opposite effect to what the guidelines are intending to do. With digitization traditional industry classifications have been completely challenged. For example fintech services can be both in the tech sector (IT) while also have a very material and meaningful financial services sector criteria. For us as an investor with controlling interests in fintech and other digital platforms, the guidance on setting targets is interpreted vastly differently by consultants/experts which is why we are engaging with prominent agencies to further drive a more granular and nuanced guidance for the rapidly evolving landscape of industry today.

During the fall 2021, we joined other private equity investors in a roundtable on standardization on ESG reporting, organized by BCG and WEF. In June 2022, we participated in a EFRAG Use Test Focus Group for their Climate change module (Covering ESRS E1).

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes