Try a little thought experiment: consider all the resources our business depends on – financial, natural and social. Now consider if those resources were severely limited across our supply chain. Run these new, higher costs of business against customer price sensitivity, and ask yourself: would Redefine survive?
The answer is yes, because we operate with sustainability in mind.
For us, it is a business approach that makes sense, embracing opportunities and managing risks by taking our broader context into consideration.
Taking an integrated approach to business
We believe that to deliver ongoing benefit to all our stakeholders, we need to integrate broader value systems into our thinking – social and relational, human, intellectual and natural – to add to the manufactured and financial that we so readily focus on. This type of integrated thinking is what will ensure our sustainability through our continued ability to generate value for our stakeholders now and in years to come.
Investing in our communities
Property is embedded in the economy and the community. The properties we acquire and develop, as well as the way we manage these properties have a significant impact on both. By embracing sustainability in all aspects of what we do, we seek opportunities to deliver enduring value and mutual benefit to our stakeholders.
We understand that strategic community investments are those that create shared value for both the beneficiary and our business. Together with our commitment to enterprise and supplier development, corporate social investment is a priority, focusing on the development and upliftment projects in the communities that surround our business. By supporting the socio-economic development of these communities, we grow the economic and social well-being of our potential customer base and uplift the communities from which we hire our employees. In this way, we create value for our business and the communities in which we operate.
An example of such a project is Buskaid, an organisation that encourages musical talent in developing communities.
R970 000 invested
Skills development psychology costs:
enrolled at Buskaid
Value for the stakeholder
During the year, besides the financial contributions made to Buskaid, Redefine also supported a skills-based volunteer programme, which saw Redefine employees offering time and expertise to assist in human resources support through a roles and responsibility audit and job specification process. This will assist Buskaid going forward in the day-to-day running of the project.
Other initiatives at Buskaid included:
- Expert-run student workshops increasing awareness on rape, drug abuse, financial wellness and emotional health.
- Counseling, initially supplied by a third-party supplier, is now provided by an on-site psychologist funded by Redefine.
R1 145 000 invested
are registered at the Safe Hub in Gugulethu,
Value for the stakeholder
The Safe Hub in Gugulethu, Cape Town, was successfully established and launched in May 2016. The concept has been successful with great impact. Redefine collaborated with the Property Foundation, and continued to support this project with a further investment into a pilot youth café on the same premises, set to open in 2017.
For more information on our corporate social investment, please see our social, ethics and sustainability report.
Protecting our natural capital
Property is embedded in the economy and the community, and sustainability forms a core component of our long-term strategy to provide world-class, efficient and sustainable spaces. Our environmental strategy focuses on facilitating the reduction of the Company’s environmental footprint while having a positive effect on asset values and reducing vacancy rates.
REDEFINE'S GREEN BUILDING STRATEGY SEEKS TO ACHIEVE TWO AIMS:
better memory function when they have views from their building.
There are gains from up to
in productivity in offices with fresher air.
Being energy wise
Renewable energy is a clean source of energy that has a much lower environmental impact than conventional energy technologies, and has a growing financial appeal due to the constant concern of rising costs and erratic availability of electricity within our South African context. In short, renewable energy is just more sustainable over the long term. Solar currently represents the cheapest and most sustainable way to generate renewable electricity. The technology has also leapfrogged to such an extent that efficiencies are constantly improving as prices fall. As the panels use space on top of the commercial buildings, they shield it from the sun, leaving it cooler, and further lowering energy consumption. During the year, Black River Park’s PV plant phase 3 was commissioned, as well as Boulders phase 2 and a PV project at East Rand Mall. In the coming year, we will focus on the implementation of PV plants at Moreleta Park and Matlosana Mall, among others.