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Many firms' response to AIDS disappointing
Rob Rose: Business Day, 4 October 2002
2002-10-10

More than 75% of 500 SA companies surveyed by finance group Sanlam have no idea of the prevalence of HIV/AIDS in their organisations, and more than 60% of these firms have no strategy to manage the disease.This will alarm analysts, given the recent pressure on companies to report on HIV/AIDS prevalence within their organisations as part of their corporate governance responsibilities. Sanlam polled the 500 firms as part of its retirement funds survey, which was released yesterday. It concluded that besides the ignorance of prevalence, 46% of companies had no AIDS policy whatsoever and 85% did not offer voluntary AIDS testing. The Johannesburg Securities Exchange SA is expected to release guidelines on AIDS reporting next year. This will mean that companies will have to reflect what measures they are taking to deal with the disease alongside their financial statements. SA would be the first country to insist on AIDS reporting of this kind anywhere in the world. The JSE's director of new business and general counsel, Nicky Newton-King, said companies would also be judged according to how they respond to the AIDS epidemic in the new socially responsible investment index being launched by the JSE. It is expected to be launched early next year, rating companies on non-financial grounds, including empowerment initiatives and AIDS programmes. Rob Rose: Business Day, 4 October 2002

More than 75% of 500 SA companies surveyed by finance group Sanlam have no idea of the prevalence of HIV/AIDS in their organisations, and more than 60% of these firms have no strategy to manage the disease. This will alarm analysts, given the recent pressure on companies to report on HIV/AIDS prevalence within their organisations as part of their corporate governance responsibilities.

Sanlam polled the 500 firms as part of its retirement funds survey, which was released yesterday. It concluded that besides the ignorance of prevalence, 46% of companies had no AIDS policy whatsoever and 85% did not offer voluntary AIDS testing. Group actuary Rob Rusconi said that the survey highlighted a disappointing response from the private sector to the AIDS epidemic. 

Proactivity is needed here; heads must be taken out of the sand,Rusconi told business leaders assembled in Midrand yesterday. 

The Johannesburg Securities Exchange SA is expected to release guidelines on AIDS reporting next year. This will mean that companies will have to reflect what measures they are taking to deal with the disease alongside their financial statements. SA would be the first country to insist on AIDS reporting of this kind anywhere in the world.

The JSE's director of new business and general counsel, Nicky Newton-King, said companies would also be judged according to how they respond to the AIDS epidemic in the new socially responsible investment index being launched by the JSE. 

It is expected to be launched early next year, rating companies on non-financial grounds, including empowerment initiatives and AIDS programmes. 

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