Governance

Our approach

Thungela’s governance framework follows the principles outlined in the King IV Report on Corporate Governance for South Africa 2016 (King IV), the performance standards established by the International Finance Corporation, legislation, and accepted industry norms. The Board assumes ultimate responsibility for our business’s performance in all areas, including ESG. Our responsibility also extends to subsidiary companies, associates, trusts, and joint ventures.

Sustainability governance

The Board maintains oversight of sustainability priorities, monitors ESG performance, and drives accountability through management structures and reporting routines.

The board’s oversight of ESG matters is supported by its six committees, but primarily the social, ethics and transformation committee and the health, safety, environment and risk (HSE and risk) committee, which are delegated specific oversight roles related to sustainability and governance performance.

Ethical behaviour

We enforce a strict policy against corruption, fraud, and misconduct, with clear standards and regular awareness efforts. Employees and stakeholders use independent whistleblowing channels to report concerns safely; we handle all reported cases through set governance processes. The company places human rights at the core of its policies and systems, promoting responsible business practices throughout its operations and value chain.

Integrated risk management

Integrated risk management is central to operations and strategic planning, directly linking disciplined decision-making and organisational resilience to risk management. This approach aligns with ISO 31000 standards and is supported by strong compliance and assurance systems that confirm control effectiveness and consistent governance. It enables proactive identification, assessment, and mitigation of operational and emerging risks, including those related to sustainability.

Governance and disclosure

Thungela’s disclosures highlight a commitment to transparent reporting aligned with recognised global standards and evolving stakeholder expectations. Independent assurance, alongside internal reviews, sustained the credibility and balance of disclosures, aiding continuous improvements in reporting.