Climate Change Data

AfroCentric Investment Corporation Limited

Climate Impact & Sustainability Data (2024)

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:16,303 tCO2e/year
Scope 1 Emissions:574 tCO2e/year
Scope 2 Emissions:5,084 tCO2e/year
Scope 3 Emissions:10,645 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:6,035 MWh/year
Water Consumption:30,573 kl/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Access to healthcare and medicine
  • Business continuity and business model adaptation
  • Digital transformation and resilience
  • Legal, regulatory and compliance management
  • Economic, transformation, political and societal risk
  • Employee wellbeing, acquisition, talent management and retention
  • Member satisfaction for clients
  • Cybersecurity and information security
  • Climate change

Environmental Achievements

  • Direct emissions decreased by 29% from 2023 to 2024
  • Reduced diesel consumption through the use of generators

Social Achievements

  • Launched HCP portal, improving customer experience and service efficiency
  • Achieved Top Employers certification
  • 81% employee satisfaction score in inaugural pulse survey
  • Increased partnerships within the Group to achieve B-BBEE priority objectives

Governance Achievements

  • Thorough review and realignment of Board committees
  • Updated terms of reference for Nominations Committee, Audit and Risk Committee, and Social and Ethics Committee
  • Enhanced ESG reporting

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Become the leading integrated healthcare solutions provider by 2030
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Slow economic growth, high unemployment, and elevated inflation impacting consumer spending power and affordability of healthcare services
  • Muted growth, high medical inflation costs, and rising fraud in the healthcare sector
  • Shortage of skilled professionals in the healthcare sector
  • Uncertainty surrounding NHI rollout and ongoing legal challenges
  • Skills shortages hindering innovation and operational excellence
  • Growing threat of cybercrime
  • Obsolete and legacy IT infrastructure
  • Margin erosion in the pharmaceutical cluster due to competition
Mitigation Strategies
  • Implementing disruptive strategies to eliminate inefficiencies in the healthcare value chain
  • Implementing value-based care initiatives
  • Investing in grid-tied solar systems to reduce reliance on diesel
  • Implementing cost control measures while driving growth
  • Fast-tracking the development of talent pipelines
  • Conducting regular evaluations and aligning with Sanlam’s cybersecurity framework
  • Implementing robust infrastructure upgrades
  • Engaging continuously with key stakeholders regarding NHI

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Increased partnerships within the Group to achieve B-BBEE priority objectives

Climate-Related Risks & Opportunities

Physical Risks
  • Load-shedding
Transition Risks
  • Increased environmental regulation
Opportunities
  • Transitioning towards renewable energy sources

Reporting Standards

Frameworks Used: Integrated Reporting Framework, JSE Listings Requirements, JSE Sustainability Disclosure Guidance, King Report on Corporate Governance for South Africa, 2016 (King IVTM), Companies Act 71 of 2008

Certifications: B-BBEE level 1

Third-party Assurance: KPMG Inc.

UN Sustainable Development Goals

  • SDG 3: Good Health and Wellbeing

Focus on enhancing health and wellbeing and broader access to healthcare

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Medscheme won Diamond Arrow Award and Golden Arrow Awards
  • Aid for AIDS secured Diamond Arrow Award