WHAT SUSTAINABILITY MEANS TO US

To us, sustainability is about building a business that creates lasting value – by respecting environmental limits, contributing positively to society and responding responsibly to the changing needs of our customers, communities and stakeholders. As one of the group’s six strategic pillars, sustainability guides our objective of being a relevant, ethical and sustainable, proudly South African business.

Meaningful stakeholder engagement with customers, associates, investors, governments, civil society and suppliers guides the understanding of perceptions and expectations to provide insights to the formulation of appropriate strategic responses. Our sustainability journey is anchored in the very purpose of the business – to add value to the lives of our customers and worth to our partners’ lives, while caring for the communities and environment in which we operate.

Building a sustainable business has always been a core principle for the founders of the group. The scope of the group’s sustainability focus incorporates business operations, value chain and the communities in which the business operates.

The group is committed to the United Nations Global Compact (UNGC) Principles and uses the Sustainable Development Goals (SDGs), GRI, TCFD and the JSE Sustainability Disclosure Guide to inform our disclosure.

Innovation is critical to deliver greater value through fair social contribution and within the boundaries of the planet. Broader measurement and disclosure frameworks measure full impact on society and the environment together with the growth in capability of leaders and associates helps to deliver on our commitments. We work in partnership with key stakeholders and harness our marketing and communications through Together We Do Good, which takes customers along on the journey.

To achieve this commitment, efforts have been focused as follows:

  • Increase supply chain visibility by mapping the value chain, thereby deepening supplier measurement of longevity and resilience. This will enable the group to target high impact sustainability interventions.
  • Reduce and stabilise value chain impact on the planet, with immediate focus on reducing single use plastics and other non-recyclable raw materials in packaging.
  • Guide and facilitate decisions that consider longevity of the business and people.
  • Extend “together we do good” partnership to key stakeholders.
  • As a signatory of the Retail-CTFL Master Plan 2030 of South Africa, the group continues to work collaboratively with government and industry to develop meaningful interventions to unlock a competitive and sustainable local manufacturing industry.

The group believes in the value of partnership and actively participates in selected membership organisations. These include the Ethical Trading Initiative (ETI) since 2013, the National Credit Retail Federation (NCRF), the Forestry Stewardship Council (FSC), the Kwazulu-Natal Clothing and Textiles Cluster (KZN CTC), Proudly SA and various Producer Responsibility Organisations (PROs) such as Fibre circle, Polyco and Lightcycle.

As a member of the NCRF, the group has played an active role in the development of the 2030 Retail-CTFL Master Plan and has committed to increase competitively produced products in South Africa. The group allocates key resources to build a sustainable and competitive local value chain.

The group’s partnership with The Clothing Bank and The Clothing Box, both economic empowerment projects, addresses excess merchandise and has the environmental benefit of prolonging product usage. The group is an active member of the National Retail Association which facilitates representation and participation in discussions of national interest.

Our sustainability outcomes

At Mr Price Group, our sustainability efforts are guided by a strategic framework comprising three pillars: environmental, social and economic.
Each pillar is underpinned by key sustainability objectives that guide business processes and activities across the group.
We work towards being a sustainable business by aligning our impact to the United Nations Sustainable Development Goals and continuously evolving our practices through ongoing assessment and insight, ensuring they remain relevant, responsible and fit for purpose.

TRANSFORMATION

The sustainability pillar of the group strategy is centred on the group’s desire to be recognised as a relevant, ethical and sustainable company. The group believes strongly that environmental, social and governance (ESG) factors play a key role in protecting and influencing the other group strategic pillars and that its brand reputation, its ability to attract and retain key talent and investment, and building a sustainable value chain will positively impact the socio-economic landscape.