Liberty Sustainable Development Report 2010

Message from the Chief Executive

A return to expected levels of profitability

The past year saw Liberty returning to expected levels of profitability after a difficult 2009. The good progress Liberty reported at the end of 2009 has continued into 2010 and the group achieved BEE normalised headline earnings of R2 597 million...

Material issues

A significant current or potential impact

We define an issue as material when it has a significant current or potential impact on the company or on its stakeholders. Material issues reflect the organisation's significant economic, environmental, and social impacts...

Deliver sustainable financial results

Provide compliant and responsible financial services

Committed to being a responsible corporate citizen.

Liberty is committed to being a responsible corporate citizen. This requires us to promote and respect the rights and interests of customers, shareholders, and society as a whole...

Behave ethically

Ethical behaviour at all levels within Liberty is important to manage risk and relationships with customers and other key stakeholders.

Comply with regulation and engage legislators

Liberty is governed by a complex regulatory network across its different business operations, making compliance with legislation a top priority...

Manage fraud and corruption

Fraud and corruption are major risks in the financial services industry, with potential consequences such as financial loss and damage to an institution's reputation.

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Focus on our customers

Maintaining and growing our customer base is crucial

Maintaining and growing our customer base is crucial to our sustainability. We therefore strive to ensure that all aspects of the customer experience are positive...

Ensure products and services meet customer needs

Liberty conducts on-going market research to understand customer needs and how to position itself in the market.

Strengthen distribution channels

The majority of Liberty's products are sold through intermediaries in the form of financial advisers.

Enhance customer satisfaction

Customer satisfaction provides a measure of Liberty's ability to meet customer needs and is an important indicator of our relationship with this important group of stakeholders.

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Attract and retain quality employees

Quality of our leadership and people is core

The quality of our leadership and people at all levels is core to our sustainability as our employees are responsible for developing and implementing our strategies, as well as running our operations.

Attract and retain talent

The attraction and retention of talent at Liberty is important to ensure the smooth functioning of the business across all operational areas, and to create stability and sustainability through succession planning.

Develop talent

On-going skills development is essential to ensure that Liberty staff at all levels remain up-to-date with the latest industry developments and best practice, influencing the relevance and timeliness of Liberty's products and services.

Embrace diversity

Liberty is committed to creating an equitable workplace that embraces diversity and respects the dignity of all employees.

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Limit our impact on the environment

Climate change poses real business risks

Liberty remains committed to actively identifying and managing those aspects of its operations with a more direct environmental impact. We also acknowledge that climate change poses real business risks and offers opportunities that we need to understand and for which we need to be prepared.

Reducing our carbon footprint

Liberty conducted its first carbon inventory analysis in 2008 which formed the baseline carbon inventory.

Reducing consumption and waste

Electricity consumption in Liberty owned and occupied properties decreased slightly in 2010.

Making our property portfolio ‘greener’

Liberty Properties owns a portfolio of commercial, retail and hotel properties that are leased to tenants.

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Drive transformation

Contribute to the country's socio-economic transformation

Liberty's commitment to transformation is not driven by compliance, but by the understanding that businesses need to contribute to the country's socio-economic transformation in a way that will bring meaningful change to the lives of all South African citizens.

Progress against regulatory frameworks

The national regulatory framework within which Liberty operates is set by the Department of Trade and Industry (DTI) Codes of Good Practice...

Promote financial literacy

As a responsible corporate citizen, Liberty is committed to playing an active role in the transformation and empowerment of communities in which we operate.

Offer accessible products to low-income consumers

Previously disadvantaged South Africans were largely excluded from enjoying the benefits of financial services.

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