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Harnessing the power of technology to address global challenges

Climate action

We seek to minimise our impact on the environment and to play our part in tackling climate change by reducing emissions that cause global heating.

We developed a climate transition plan to introduce multi-year, science-based targets (STI). We follow a three-step approach:

First, we understand the environmental impact of our operations and extended value chain. Each company conducts a materiality assessment, an ESG performance assessment, and a ‘deep dive’ mapping exercise for the purpose of carbon accounting.

Second, we apply the highest industry standards and targets, guided by global best practices and science-based frameworks.

Third, we identify scalable technology, partnerships and strategies to reduce environmental impact and improve performance.

GHG emissions reporting
We work closely with our subsidiaries to build a diligent greenhouse gas (GHG) emissions inventory accounting and reporting process. Given the diversity and varying maturity of our investee companies, the material impacts and how to define them vary between businesses.

The process of GHG data reporting is operational and company-specific. When compared to the financial accounting processes for listed and non-listed companies, we observe that carbon accounting for private companies is still in a nascent stage.
During the first 12-24 months after the acquisition, we start with building awareness for our investees on the need for climate action and providing the tools for enhanced GHG accounting.

This includes analysis of factors such as electricity consumption by buildings, fuel consumption attributed to company cars and generators, and the environmental footprint of information technology hardware.

Oversight over these assets and the implementation of solutions for GHG reduction activities is operationalised at individual company level. We want to ensure that our GHG accounting and reporting approach is reflective of this reality and allows us to set targets that can be delivered on by the entities that carry the ability to do so.

Risks and opportunities
We have assessed the climate-related risks and opportunities for the group, which resulted in an identification of some clear opportunities to enhance the ESG profiles of our portfolio companies and thereby increase our ability to raise capital, enhance the valuations of these companies and reduce their operational risks. For a deeper insight into these risks and opportunities, please see our TCFD disclosure and our CDP submission below.

Waste
Packaging and waste is a material topic for a significant proportion of our portfolio companies, in particular for our Etail and Food delivery segments.

We will continue to support our investees to explore opportunities to reduce the environmental impact of plastic packaging. For example, iFood, Delivery Hero and Swiggy have introduced an opt-out feature for customers to de-select disposable cutlery when placing food orders.

Stay up to date with our working group on Packaging and Waste via the Sustainability news section in the Naspers newsroom.

Carbon and climate action
Enhanced environmental disclosure is a key element of our commitment to net zero, and a demonstration of the importance we attach to climate stewardship across the group. We have made significant steps in the last two years on our disclosure of environmental data, using the GHG Protocol framework, which you can find below. In the GHG boundaries document, we define our approach to GHG accounting.

Further details of our climate strategy can be found here:
Task Force on Climate-related Financial Disclosures (TCFD) disclosures
Boundaries and scope of our greenhouse gas accounting