After the successful completion of our past projects, the Board again gave approval for a budget of R300 000 for the current year.
This is in addition to the surplus of the budget approved for the year ended 30 June 2019, which was not all allocated (R215 000 available). Various projects were examined by the Social and Ethics Committee, with an emphasis again on children and supporting initiatives where possible in the areas we operate in.
During the year the Social and Ethics Committee (SE) met on two occasions.
Approval was given for the following funding:
The Board accepts overall responsibility for the implementation of policies and the advancement of sustainable development within the Group. Managing and, where possible, reducing the environmental footprint of our properties, as well as monitoring our carbon footprint, are recognised as paramount. In addition, the health and safety of our workforce, as well as considering the safety of our tenants’ workforce, are important strategic objectives of Putprop. The implementation and management of this objective will, by necessity, have to occur with the active support and input of our tenant base.
OCCUPATIONAL HEALTH AND SAFETY ACT
The Group believes that it must assume responsibility to ensure that all its properties comply with the Occupational Health and Safety Act requirements.
It was noted in the previous annual report that the services of a specialised health and safety consultant would be considered in order to review our properties and ensure they meet the standard of compliance required by the various legislation. The Board considered this proposal during this review period and appointed a consultant to review all our properties. Initially this review will be limited to our older properties where remedial action may be required.
Where necessary, procedures have been implemented where shortfalls have been identified.
Covid-19 Add on's
The additional protocols as dictated by government and best practice has now been added to this review process and implemented with immediate effect.
ENERGY EFFICIENT INITIATIVES
To make informed energy efficient decisions linked to effective implementation, we need to evaluate the most practical and cost-effective means to manage our utilities.
The following initiatives have been implemented where applicable:
An energy efficient programme that will focus on and monitor energy spend and its efficiency. We have initiated programmes to introduce more efficient light fittings and globes in all future refurbishments undertaken. Consideration is given to the fitting of energy efficient lighting, as well as the implementation of metal halide lamps in lieu of fluorescent lighting. This in many instances results in greater levels of illumination with greater energy efficiency. With the current cost structure of electricity supply in South Africa, this program can have financial benefit for our portfolio as well as our tenants.
A water conservation and management program. The program will monitor the consumption of water to highlight variations in consumption, enabling early detection of water wastage and system defects. All new refurbishing’s carried out are using low flushing mechanisms. New initiatives will be investigated, together with our tenants and local suppliers, to reduce consumption where practical.
Climate change. In pursuing our financial activities and objectives, we believe we have a responsibility to make a contribution to reducing our carbon footprint and thus slow down climate change.
A utility audit in respect of water and energy consumption is essential. This necessitates, by implication, that this is an on-going process. As a result, we intend to audit all our properties in the course of the next 12 - 24 months with a view to determine which properties, if any, are in need of remedial action and then to determine the appropriate response.