EY announces winners of Excellence in Integrated Reporting Awards 2023;

Johannesburg, 15 September 2023: EY today announced the top ranked companies in the 2023 Excellence in Integrated Reporting (EIR) Awards.  

These awards benchmark standards of excellence in the quality of integrated reporting published by listed South African companies for their investors and stakeholders. The top 100 JSE-listed companies, based on market capitalisation as of 31 December 2022, were included for consideration. Pure holding companies were excluded. In line with a growing global focus on sustainability reporting, and new standards being published in this arena, this year’s EY EIR Awards included some insights on sustainability reporting.

Larissa Clark, Corporate Reporting Leader, EY Africa, said: “Over the last year, developments in the environmental, social and governance (ESG) reporting landscape have been unprecedented. In June 2023, the International Sustainability Standards Board (ISSB) issued its first two standards1, with an effective date of 1 January 2024. Reporting by the identified sectors will, if necessary, be enforced at jurisdictional level.

Over the next few years, companies will be challenged to meet ever-increasing reporting expectations of regulatory bodies and stakeholders.”

Clark says that most of these companies already use more than one standard to guide their sustainability reporting. “It is interesting to note that, although the JSE Guidance was only published a little over a year ago and is voluntary, 31 of the 100 companies refer to the JSE Sustainability Disclosure Guidance, while 17 refer to the JSE Climate Disclosure Guidance. More than half of these companies also indicated the use of other standards and guidelines, which include rating agencies and industry-specific guidance.”

Top rankings 

Nedbank Group Ltd achieved the top ranking in the EY EIR 2023 awards, for the second year running. Redefine Properties Ltd ranked second, as it did in 2022. Kumba Iron Ore Ltd took third place this year, up from sixth place in 2022.

“It is our great pleasure to congratulate Nedbank for achieving first place,” says Clark. “Our judging panel noted their report’s discernible focus on value creation, preservation, and erosion, and particularly liked how detailed key performance indicators support strategic performance. We also congratulate Redefine Properties and Kumba Iron Ore, and all of the entities included in the top 10.”

The top 10 rankings in order are:

1. Nedbank Group Ltd
2. Redefine Properties Ltd
3. Kumba Iron Ore Ltd
4. Netcare Ltd
5. Anglo American Platinum Ltd
6. Vodacom Group Ltd
7. Exxaro Resources Ltd
8. Truworths International Ltd
9. Impala Platinum Holdings Ltd
10. Absa Group Ltd

Stephen Ntsoane, Assurance Leader, EY Africa, notes that “ESG reporting, encompassing a range of non-financial metrics, serves as a transparent window into a company’s environmental impact, social initiatives, and governance practices. It is the bedrock upon which stakeholders, including investors, regulators, customers, and employees, make informed decisions regarding a company’s ethical and sustainable endeavors.”

Download report here: Excellence in Integrated Reporting (ey.com)

ENDS