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The JSE socially responsible investment index and the state of sustainability reporting in South Africa

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  • Dan Sonnenberg
  • Ralph Hamann

Abstract

The JSE Limited (JSE) in South Africa is the first bourse in an emerging market to develop a sustainability index for its top 160 listed companies. This article provides an overview of the Index methodology and uses the first and second rounds of the Index to assess the state of sustainability reporting among participating companies. It describes general trends related to priority issues in companies' reports, the extent and manner of reporting, and which kinds of companies are emerging as leaders in reporting. More detailed patterns of reporting are considered with respect to the four key categories in the Index: corporate governance, society, economy and environment. The article also considers the role of the Index in terms of the nascent socially responsible investment (SRI) movement in South Africa. It argues that a number of challenges need to be met in order to enhance the impact of the Index and of SRI on corporate behaviour in South Africa and Africa.

Suggested Citation

  • Dan Sonnenberg & Ralph Hamann, 2006. "The JSE socially responsible investment index and the state of sustainability reporting in South Africa," Development Southern Africa, Taylor & Francis Journals, vol. 23(2), pages 305-320.
    • Handle: RePEc:taf:deveza:v:23:y:2006:i:2:p:305-320
    DOI: 10.1080/03768350600707942
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    Citations

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    Cited by:

    1. Schabek, Tomasz, 2020. "The financial performance of sustainable power producers in emerging markets," Renewable Energy, Elsevier, vol. 160(C), pages 1408-1419.
    2. Dr. Humberto Valencia Herrera, 2015. "Decomposition of the Stocks Returns in the Sustainable Index of the Mexican Stock Exchange," Remef - The Mexican Journal of Economics and Finance, Instituto Mexicano de Ejecutivos de Finanzas. Remef, March.
    3. Peng Zou & Qi Wang & Jinhong Xie & Chenxi Zhou, 2020. "Does doing good lead to doing better in emerging markets? Stock market responses to the SRI index announcements in Brazil, China, and South Africa," Journal of the Academy of Marketing Science, Springer, vol. 48(5), pages 966-986, September.
    4. Bongani Munkuli & Renee Horne, 2018. "Financial Markets Value Reputation for Corporate Social Responsibility (CSR) – A Study of the South African Mining Sector," Africagrowth Agenda, Africagrowth Institute, vol. 15(2), pages 17-22.
    5. repec:eme:srjpps:v:6:y:2010:i:2:p:332-346 is not listed on IDEAS
    6. Roselyne Cheruiyot-Koech & Colin David Reddy, 2022. "Corporate Social Responsibility Preferences in South Africa," Sustainability, MDPI, vol. 14(7), pages 1-16, March.
    7. Arcangelo Marrone & Lara Oliva, 2021. "The Level of Integrated Reporting Alignment with the IIRC Framework: Evidence from South Africa," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(1), pages 1-99, July.
    8. Giamporcaro, Stephanie, 2011. "A Market for Environmentally Responsible Investment? Identifying Obstacles and Enablers of Commodification of Environmental Risks in the South African Investment Industry," RFF Working Paper Series dp-11-01-efd, Resources for the Future.
    9. Ralph Hamann & Paresha Sinha & Farai Kapfudzaruwa & Christoph Schild, 2009. "Business and Human Rights in South Africa: An Analysis of Antecedents of Human Rights Due Diligence," Journal of Business Ethics, Springer, vol. 87(2), pages 453-473, August.
    10. Humberto Valencia Herrera, 2015. "Decomposition of the Stocks Returns in the Sustainable Index of the Mexican Stock Exchange," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 10(1), pages 85-99, Enero-Jun.

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