Policies

Tasc environmental and social risk management policy and practices

This document sets out our beliefs and requirements as well as our approach to E&S. The framework covers the activities of all employees, (sub)contractors and other stakeholders working for TASC. We also encourage business partners and stakeholders to act in accordance with this framework or a similar standard and seek to support them to achieve this, where appropriate. At a site or investment level, more detailed, specific management systems are in place to cover daily operations and manage risks.

Our Approach:

1. Our operations should be safe for employees, (sub)contractors, the communities in which we operate and the environment.

2. We aim for a zero-harm approach – we commit to reporting, investigating and learning from incidents and near misses.

3. We recognize the importance and fragility of the environment – we commit to seeking to minimise our impact on the environment through upholding high E&S standards.

4. A risk-based approach is the most suitable to manage the complex environments and geographies in which we operate.

5. All our operations should be compliant with the applicable legislative and regulatory regimes and we ensure that the appropriate processes, resources and systems are in place.

6. We are committed to respecting all internationally recognized human rights – we will seek to conduct our business in accordance with the UN Guiding Principles on Business and Human

7. We monitor, track and disclose our performance to continuously improve our E&S

8. We commit to communicating appropriately with all key

Requirements:

1. Legal Compliance
TASC manages its operations, equipment and activities in compliance with relevant E&S laws, regulations and permits. Where specific laws or industry practice do not exist, a sensible approach to reduce risks is applied.

2. Excluded Activities
Neither TASC nor any of its affiliates will, directly or through its subsidiaries, enter into any of the excluded activities specified in the Exclusion List attached hereto as Annexure A.

3. Risk Management
TASC adopts a risk-based approach to E&S and operations management by identifying, monitoring, assessing and mitigating risks to an acceptable level as determined by business requirements.We ensure that high risk activities, such as transportation (for example by truck, rail, ship, mobile equipment) are well controlled by permits and/or safe systems of work.

4. Leadership, Training and Competency 

• TASC encourages staff to intervene, report unsafe situations so as to prevent occupational illnesses and incidents, whether directly involved or not.
• TASC provides appropriate and ongoing E&S information, training and supervision to employees, contractors and visitors to enable them to carry out their duties competently.

5. Management Systems
5.1 We establish, where appropriate, E&S management systems to cover:

• Personal and process safety risks
• Provision of suitable personal protective equipment (PPE), sanitary facilities, first aid kits and drinking water
• Environmental protection
• Health risks and exposure to potential health hazards
• Security related topics
• Complaints and grievance management
• Alcohol and drug testing
• Selection and management of contractors and suppliers

6. Targets and Measurement
6.1 We set measurable targets to improve E&S performance in which following should be considered, where relevant:

• Lagging and leading E&S related metrics (e.g. lost time injuries, process safety metrics, near misses)
• Noise, odour and other complaints
• Energy, waste and water management
• Pollution prevention

6.2 We collect and analyse business specific KPIs to monitor and measure E&S perfromance.

7. Human Rights

7.1 TASC is committed to respecting all internationally recognised human rights, including those contained in the International Bill of Human Rights and the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work.

7.2 We aim to ensure a diverse and inclusive workplace, free from discrimination regardless of age, gender, race, cultural heritage, ethnicity, sexual orientation, religion or disability.

7.3 We ensure compliance with legal requirements regarding working hours, conditions and pay and additional attention to vulnerable or marginalised groups who may be at greater risk of adverse human rights impacts.

7.4 Forced, trafficked or child labour is prohibited and we do not tolerate any physical or verbal abuse or workplace harassment.

7.5 TASC respects employees’ rights to join, form or not to join a labour union and commit to bargaining in good faith with their representatives.

8. Security

8.1 We ensure that appropriate measures are in place to manage travel to high-risk destinations.

8.2 We aim to establish workplace security aimed at preventing violence, intimidation and other negative E&S conditions arising from internal and external sources.

8.3 TASC ensures that security management is consistent with international standards, local policies and laws.

8.4 We manage security arrangements in line with the United Nations Basic Principles for the Use of Force and Firearms by Law Enforcement Officials and the Voluntary Principles on Security and Human Rights where appropriate.

8.5We aim to mitigate any adverse impacts our security arrangements have on local communities.

9. Due Diligence

9.1 TASC applies a risk-based approach to E&S due diligence and focuses on the most severe potential E&S impacts.

9.2 We work towards conducting on-going human rights due diligence and ensuring that rightsholders and communities impacted by our business activities have access to remedies.

9.3 We undertake E&S impact assessments, where applicable.

10. Stakeholder Engagement and Communication

TASC develops two-way communication channels with relevant stakeholders to ensure awareness and understanding of our E&S frameworks and we build capability to improve prevention and mitigation of adverse impacts where appropriate.

11. Incident Reporting and Management

TASC will establish and test E&S incident management plans for major accident hazards e.g. for process safety events, loss of containment, transport emergencies etc. We also aim to have in place a process to report, investigate and learn from E&S incidents and high potential near misses to ascertain root causes and avoid reoccurrence.

12. Reviewing Performance

TASC initiates periodic audits of operations to benchmark progress against these and other requirements, using suitably qualified personnel.

Annexure A – List of Excluded Activities

African Development Bank Exclusion List

• Production of alcoholic beverages, tobacco, and luxury consumer
• Production or trade in weapons, ammunition and other goods used for military or paramilitary
• Production, trade in, or use of:
  • nuclear reactors and related products, radioactive materials (except in the case of medical materials and quality-control equipment where the radioactive source is in small quantities and is adequately shielded), combustible elements not exposed to irradiation (cartridges for reactors);
  • unbonded asbestos fibres or other products with bonded asbestos as a dominant material; or
  • harmful substances that are subject to international phase-outs or bans (including pharmaceuticals and pesticides classified as Class Ia (extremely hazardous); Class Ib (highly hazardous); Class II (moderately hazardous); and ozone-depleting substances.
• Trade in wildlife or wildlife products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
• Speculative trade or investment in platinum, pearls, precious stones, gold and related
• Gambling, casinos and equivalent enterprises to the extent that such activities constitute the main business of the borrower / recipient.
• Use of logging equipment in unmanaged primary tropical
• Economic activities involving harmful or exploitative forms of forced labour (1) and/or child labour (2) as defined by international conventions and/or national regulations.
• Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements.

1 Forced labor means all work or service, not voluntarily performed, that is extracted from an individual under threat of force or penalty.

2 child labor means the employment of children that is economically exploitive, or is likely to be hazardous to, or to interfere with, the child’s education, or to be harmful to the child’s health, or physical, mental, spiritual, moral, or social development.

European Development Finance Institutions (EDFI) Harmonized Exclusion List

EDFI Members will not finance any activity, production, use, distribution, business or trade involving:

• Forced labor(3) or child labor (4)
• Activities or materials deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international phase-outs or bans, such as:
  • Ozone depleting substances, PCBs (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals;
  • wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES); or
  • Unsustainable fishing methods (e.g. blast fishing and drift net fishing in the marine environment using nets in excess of 2.5 km in length).
• Cross-border trade in waste and waste products, unless compliant with the Basel Convention and the underlying regulations.
• Destruction (3) of High Conservation Value areas (4)
• Radioactive materials (5) and unbounded asbestos
• Pornography and/or prostitution
• Racist and/or anti-democratic media
• In the event that any of the following products form a substantial part of a project’s primary financed business activities (6):
  • Alcoholic Beverages (except beer and wine);
  • Tobacco;
  • Weapons and munitions; or
  • Gambling, casinos and equivalent

3 Forced labor means all work or service, not voluntarily performed, that is extracted from an individual under threat of force or penalty as defined by ILO conventions.

4 Persons may only be employed if they are at least 14 years old, as defined in the ILO Fundamental Human Rights Conventions (Minimum Age Convention C138, Art. 2), unless local legislation specifies compulsory school attendance or the minimum age for working. In such cases the higher age shall apply.

3 Destruction means the (1) elimination or severe diminution of the integrity of an area caused by a major, long-term change in land or water use or (2) modification of a habitat in such a way that the area’s ability to maintain its role is lost.

4 High Conservation Value (HCV) areas are defined as natural habitats where these values are considered to be of outstanding significance or critical importance (See http://www.hcvnetwork.org). 5 This does not apply to the purchase of medical equipment, quality control (measurement) equipment or any other equipment where the radioactive source is understood to be trivial and/or adequately shielded.

6 For companies, “substantial” means more than 10% of their consolidated balance sheets or earnings. For financial institutions and investment funds, “substantial” means more than 10% of their underlying portfolio volumes.

Furthermore, the following investment exclusions are considered as a minimum common requirement by all EDFI members for all new Direct Financing (Debt or Equity), for Indirect Equity through new commitments to investment funds, and new dedicated lending (7) via financial institutions:

• Coal prospection, exploration, mining or processing
• Oil exploration or production
• Standalone fossil gas exploration and/or production (8)
• Transport and related infrastructure primarily (9) used for coal for power generation
• Crude Oil Pipelines
• Oil Refineries
• Construction of new or refurbishment of any existing coal-fired power plant (including dual)
• Construction of new or refurbishment of any existing HFO-only or diesel-only power plant (10) producing energy for the public grid and leading to an increase of absolute CO2 emissions (11)
• Any business with planned expansion of captive coal used for power and/or heat generation(12)

7 ”Dedicated lending” is defined for these purposes as loans conditioned by a use of funds clause specifying that such financing will be used for one or more of the purposes described.

8 Gas extraction from limnically active lakes is excepted from this exclusion.

9 “Primarily” means more than 50% of the infrastructure’s handled tonnage.

10 For indirect equity through investment funds, investments (up to a maximum of 20% of the fund) in new or existing HFO-only or diesel-only power plants are allowed in countries that face challenges in terms of access to energy and under the condition that there is no economically and technically viable gas or renewable energy alternative.

11 I.e. where energy efficiency measures do not compensate any capacity or load factor increase.

12 This does not apply to coal used to initiate chemical reactions (e.g. metallurgical coal mixed with iron ore to produce iron and steel) or as an ingredient mixed with other materials, given the lack of feasible and commercially viable alternatives.

Tasc Corporate Social Responsibility Policy

TASC is committed to ensuring that any business undertakings are conducted as ethically as possible.

Who We Are and What We Do

TASC is a carbon finance and project development company with expertise in international carbon markets and standards. We partner with organisations across the world to develop transparent and reliable CO2 emission reduction projects for the voluntary and compliance markets.

In addition, our projects meet various UN Sustainable Development Goals. We bring together highly skilled local teams and regularly work with NGOs and N POs which operate in project areas while also uplifting local communities through employment of project teams.

Employees and Suppliers

All TASCs business relationships, including those with its suppliers and employees, are subject to the principal of minimizing any adverse impact on the environment and on human rights.

TASC seeks to ensure that all its suppliers abide by the principles and provisions of the Modern Slavery Act 2015 and the Bribery Act 2010 or any analogous legislation applicable in the various jurisdictions in which it operates.

TASC does not discriminate in its hiring and employment practices on the grounds of criteria such as race, colour, religion, age, physical ability, national origin or sexual orientation. It respects the rights of its employees to form and join workers organisations and to participate in the process of collective bargaining.

Human Rights

TASC is committed to respecting all internationally recognized human rights and seeks to conduct its business in accordance with the UN Guiding Principles on Business and Human Rights.

It does not use any child or bonded labour in any of its business undertakings and does not engage in any activity which may be construed as human trafficking or exploitation.

Environment and Community Engagement

As an experienced financier and developer of high impact climate mitigation projects with active operations in Australia and throughout Africa, the protection and regeneration of the environment is a core principle of TASCs business.

Our projects also benefit the communities in which they operate through the employment of local project teams and often include community give-back schemes uplift and improve the quality of life in rural areas.

Overview

The TASC group of companies has made a strategic decision to distribute a percentage of carbon revenue generated from its climate mitigation projects to benefit local communities in the jurisdictions where our projects are in operation.

TASC Foundation South Africa NPC (the ‘NPC’) has been incorporated to administer and distribute those community funds which have been generated from household device-based carbon mitigation projects (such as those currently conducted by TASC in the Kruger to Canyon Biosphere and Waterberg regions of South Africa).

In general terms, the purpose of the NPC is to ensure that available funds are disbursed to beneficiary projects which serve the needs of communities involved in the TASC carbon projects in an accountable, transparent and effective manner.

The intention is for the NPC to have oversight on all community giveback programmes regardless of jurisdiction.

1.      CORPORATE STRUCTURE

1.1      Objectives

As all of a non-profit company’s assets and income must be used to advance its stated objectives as set out in the Memorandum and Articles of Association (MOI), the creation of a bespoke MOI is key to ensure that the NPC’s stated objectives encompass an extensive range of potential beneficiary projects. This objective is also of crucial importance in relation to the NPC’s application to SARS for tax exemption status in terms of Section 30 of the Income Tax Act (1962).

The MOI of the NPC states that Welfare and Humanitarian activities are the primary objective of the entity with particular emphasis on “the promotion of community-based projects relating to self-help, empowerment, capacity building, skills development or anti-poverty”, together with ancillary objectives which include:

• Health Care
• Education and Development
• Land and Housing
• Conservation, Environment and Animal Welfare

This range of objectives enables the most inclusive range of potential beneficiary projects.

1.2      Tax Exemption

To qualify for exemption status in terms of the Income Tax Act (1962), the sole or principal object of the NPC organisers must be the carrying on of one or more of the Public Benefit Activities contained in the Ninth Schedule of the Act. Potential activities which may apply to projects to be funded by community give-back distributions have been included in the MOI (as described in the previous section). The NPC has to carry out its public benefit activities in a non-profit and altruistic manner with no intention to generate a profit or financial return. The activities also have to be entirely for the benefit of the general public.

The NPC will still need to submit income tax returns even if its approval or exemption results in no tax liability – this enables the Commissioner to assess annually whether the NPC is operating within the limits of its approvals.

The NPC can simultaneously apply to SARS for eligibility to issue Section 18A certificates in respect of donations made to it by third parties. This will allow a donor to claim both an input deduction for VAT as well as a tax deduction for income tax purposes.

2.      GOVERNANCE

The NPC will be governed by a Board of Directors consisting of two senior members of TASC management with integral knowledge of TASC’s operations in South Africa and elsewhere, together with an independent third Director with a strong commercial background and significant experience within a non-profit organisation.

2.1      Board of Directors:

Shelley Estcourt: is currently CEO of TASC’s Africa operations, managing all aspects of the Group’s carbon credit origination projects throughout Africa. She has in depth knowledge of all components of Africa based projects from inception to implementation, including the guiding of new project development thinking and liaising with the Group Board on all project matters.

Shelley has had several years of experience managing operations for leading asset management companies in London and Bermuda. Her educational background is in Marketing and Psychology at the University of Natal, South Africa.

Malcolm Stewart is a chartered account who brings a broad range of skills from his 25 years of international working experience in four continents including North America, Europe, Asia and Africa. Stand out roles have included Head of Trading Credit Risk Management, Asia for a multinational investment bank, Senior Banking and Registration Product Manager for a large software development company and Head of Business Development of a successful IT Finance software start-up. Co-ordinating and managing complex transactions, teams and implementations and been integral to all these roles. He is currently Chief Financial Officer of the TASC Group’s operations in Africa.

Gary Campbell: co-founded the FUEL Trust (an NPO), when he and his family returned to South Africa, having spent 9 years working in the United Kingdom. FUEL has partnered with the Department of Basic Education (DBE) for the last 17 years to support improved performance of their National School Nutrition Programme (NSNP). The NSNP serves a cooked meal to 10 million learners in 20,000 public schools every school day.

Currently FUEL is working with key stakeholders in early childhood development to support improved delivery of the Programme with an emphasis on skills transfer.

Whilst in the UK, Gary was the Commercial Director of Nando’s where he was responsible for procurement, logistics, safety, menu development and maintenance of the UK group which at that stage managed 150 corporate owned restaurants. Prior to that he worked as an investment manager for Yellowwoods, a private family business which is the major shareholder of Nando’s as well as other businesses in the leisure and financial services sectors both in SA and in the UK.

2.2      Objectives and Guiding Principles of the Board of Directors

The objectives and guiding principles of the Board of Directors are to:

• ensure that local communities within designated project areas benefit directly and practically from the distribution and allocation of community give-back funds. It is important to note that, due to the nature of some projects, it may mean that not every community benefits every time from the annual distributions. The board will consider previous community distributions to always ensure a fair allocation across the region.
• ensure that the integrity requirements of the TASC group are met in terms of transparency, accountability and the effective utilization of available funds.
• ensure that all projects and endeavors funded by community distributions seek to answer the real needs of the communities they are intended to benefit.
• ensure the objective of authentic community empowerment whereby communities are involved in the delivery of services that will benefit them, play a role in decision making about the provision of services and resources and actively participate in the implementation, monitoring and maintenance of those services.

2.3      Responsibilities of the Board of Directors

The Board of Directors will meet once a Quarter. Apart from their fiduciary obligations in terms of the Companies Act (2008), the responsibilities of Board members will include: –

• Appointment of Steering Committees.
• Legal and accounting oversight and management.
• Internal compliance and control in accordance with applicable law and the NPC’s policies and codes of conduct.
• Dispute resolution for referred and/or escalated disputes.
• Development of an annual budget and financial plan. A comprehensive budget will be developed that delineates the funds available for distribution to the relevant region.
• Approval of the allocation of those funds to various community projects and/or programmes as recommended by each Steering Committees following the parameters set out in the applicable Terms of Reference and the Project Selection and Evaluation Frameworks.
• Financial reporting: the preparation and approval of independent annual financial reports which fully describe the flow of funds through the NPC and the status of funds allocated to the region. These will comply with international financial accounting standards and be made available to all stakeholders.
• Approval and monitoring of all project and activity related reporting provided by the Steering Committee.
• Development of a marketing strategy, where required.
• Board appointments, removals and succession planning.

3.      FINANCE

The NPC will have a robust financial management system in place which will track the inflow of community allocated funding from carbon mitigation projects and the outflow to beneficiary communities. Separate accounting streams and bank accounts for each region or grouping that benefit from fund distributions will be established.

For South Africa, there will initially be two accounting streams and bank accounts, one for the Kruger to Canyon Biosphere and the other for Waterberg region. Additional accounting streams and bank accounts will be added in respect of new groups of project beneficiaries as they arise. Funds are to be allocated on the basis of the number of devices distributed in the relevant area, the consequent Emissions Reductions for the area and the receipt of revenue on the sale of those credits as evidenced by third party audits.

• The Board will advise the Steering Committee in writing upon receipt of any carbon credit revenue how much community funding will be made available for distribution into the bank account of the relevant region.
• The funds will be released to beneficiary projects on the basis of recommendations submitted by the Steering Committees and approved by the Board and in accordance with authorization procedures to be agreed.
• The costs of legal and accounting oversight of the NPC will be borne by TASC.
• Administrative costs incurred by the Steering Committee will be discussed and either covered by part of the community funding or will be borne by TASC.
• Annual independent audits will be conducted to assess financial records and distribution outcomes. The outcomes of these audits will be communicated to all stakeholders within a reasonable time period.

For community programmes outside of South Africa, the board will advise TASC on where funding should be spent based on project proposed by the relevant steering committee and board approval of those projects.

4.      STEERING COMMITTEES

The Board of Directors will appoint a Steering Committee in respect of each region (example K2C and Waterberg) to manage the effective distribution of allocated carbon revenue to local communities, on the basis of the Terms of Reference set out below:

The name of the Steering Committee will be the K2C Steering Committee or Waterberg Steering Committee, as the case may be.

The broad purpose of the Steering Committee will be:

• To ensure that local communities within its designated region benefit directly and practically from the distribution of allocated funding.
• To ensure the objective of authentic empowerment whereby communities are involved in the decision making and delivery of beneficiary projects and services and actively participate in the implementation, monitoring and maintenance of same.

4.1      Steering Committees Roles and Responsibilities

The roles and responsibilities of the Steering Committee will include:

• Establishing a Project Selection Framework which details the criteria in terms of which beneficiary projects are approved or declined and which takes cognizance of the funds allocated to the region by the Board.
• Evaluating potential beneficiary applications based on the criteria set out in the Project Evaluation Framework
• Making recommendations to the Board in respect of the approval of beneficiary projects.
• Developing budgets and reporting requirements in respect of approved beneficiary projects.
• Providing general oversight of beneficiary projects in terms of schedule, budget, scope, quality, risks, issues and benefits.
• Providing advice and guidance to beneficiary applicants and recipients so as to assist projects in achieving their desired outcomes.
• Supporting and guiding the procurement of project resources (in accordance with the Conflict-of-Interest Policy) to ensure fair competition, value for money and to prevent corruption or mismanagement of funds.
• Facilitating business/technical and stakeholder input for decision making.
• Identifying imminent or inherent project risks and initiating appropriate escalation where necessary.
• Fostering active consultation and participation with community members so as to maintain an awareness of community requirements, the alignment of beneficiary projects with community needs and to ensure continuing transparency and inclusiveness.
• Continuing adherence to and implementation of the TASC Foundation SA (NPC) Conflict of Interest Policy, Code of Ethics and Grievance Mechanisms (see below).
• Implementing the Project Evaluation Framework which will effectively track the progress and impact of projects based on the criteria in terms of which those projects were initially selected. The Framework will assess the achievement of project objectives and identify challenges so that necessary adjustments can be made. The Committee will provide the Board with progress reports based on such evaluations on a quarterly basis.
• Reviewing these Terms of Reference on an annual basis by the Board in consultation with the Steering Committee.

4.2      Steering Committees Authority

The Steering Committee has full delegated authority to act on behalf of the Board within agreed policies and procedures, subject to any matters being specifically reserved for the Board.

Matters reserved specifically to the Board are as follows:

• Appointment of membership of Steering Committees.
• Oversight and management of legal and accounting functions and processes.
• Internal compliance and control.
• Dispute resolution for referred and/or escalated disputes.
• Development of an annual budget and financial plan: a comprehensive budget will be developed that delineates the funds available for distribution to the relevant region.
• Approval of the allocation of those funds to various community projects and/or programmes as recommended by the Steering Committees following the parameters set out in these Terms of Reference and the Project Selection and Evaluation Framework.
• Financial reporting: the preparation and approval of independent annual financial reports which fully describe the flow of funds through the NPC and the status of funds allocated to the region. These will comply with international reporting standards and be made available to all stakeholders.
• Approval and monitoring of all reporting provided by the Steering Committee.
• Development of a marketing strategy, where required.

4.3      Steering Committees Membership

The Committee will be appointed by the Board of Directors and will consist of 3-7 members, including one employee from the TASC group of companies with the balance of members being representatives from implementation partners and/or stakeholders in the relevant region as well as at least one independent advisor.

It is essential that as many interests as possible are represented on the Committee and that the members represent various fields of expertise and knowledge of the local communities. This will ensure that the Committee operates using information and insights that contribute to a holistic understanding of the local environment and culture.

Membership of the Committee will be a for an initial term of 4 (four) years, after which a member can be re-appointed for one further term.

4.4      Steering Committees Meetings

• The Committee shall meet at least once a month.
• The attendance of 5 members of the Committee will constitute a quorum.
• In most cases, decision making will be by consensus. However, in exceptional circumstances (decided at the direction of the Chair) decision making will be by a majority vote of Committee members. In such a case, each member will have one vote.
• The Chair of the Steering Committee will be appointed by the Board and will:
  • lead and direct the activities of the Steering Committee, ensure the Committee operates effectively and brief new members as required.
  • set the Committee Meeting Agendas and conduct scheduled meetings.
  • Ensure processes are in place for the effective operation of the Committee.

5.      PROJECT SELECTION AND EVALUATION

The Committee will adopt a fair, efficient and productive Project Selection and Evaluation Framework based on the following principles:

• A comprehensive rubric (template set out below) will be developed in order to effectively evaluate all applications for funding.
• Projects must address the need to provide an equitable distribution of a proportion of carbon revenues to TASC project stakeholders and beneficiaries.
• All prospective applicants for funding will be provided with clear information about:
  • How to make a submission
  • Time limits for submission
  • Applicable time frames for responses
  • Reporting requirements
  • How and when funds will be made available
• All information which is made available will be accessible by all potential beneficiaries – particularly marginalized and disadvantaged groups, groups with little infrastructure and those unfamiliar with corporate protocol.
• The time period between lodging an application and a decision in respect thereof will be as brief as possible, particularly in the case of projects which are not accepted for funding.
• The reasons for declining any application will be fully disclosed to the applicant.
• All decisions by the Committee will be informed by relevant expertise and a thorough understanding of the developmental issues involved. If necessary, external expertise will be sought in order to make the most informed decision possible in the circumstances.
• Any Conflicts of Interest should be avoided, with specific reference to the Conflict-of-Interest Policy.
• Any agreement to fund a project should be made in writing and clearly define the results expected from the project in terms of community benefits, bearing in mind at all times the requirements and expectations of the beneficiary community.
• Arrangements should specify the amount and purpose of the fund distribution to the successful applicant, procedures for payment, any monitoring, reporting and evaluation requirements which may apply and the circumstances in which funding may be revoked or amended. All parties must commit to and adhere to time frames for project implementation and fund distribution.

The Committee will also develop and adopt a comprehensive Project Selection and Evaluation Framework in terms of which the progress and impact of each beneficiary project is examined. This analysis will be based on the criteria upon which beneficiary projects were initially selected and will assess the achievement of project objectives, identify challenges and make any necessary adjustments.

5.1      Reporting

The Minutes of Steering Committee meetings shall be formally recorded and submitted to the Board of Directors.

The Committee will submit semi-annual progress reports to the Board of Directors which will provide updates on the status of all beneficiary projects in accordance with the terms of the Project Selection and Evaluation Framework.

6.      FUTURE OF THE NPC

Recent trends in fundraising patterns and donor trends indicate a clear need for non-profits to ensure transparency, accountability and sustainability in their endeavours.

In terms of sustainability (and specifically within the South African context), it is envisaged that the NPC will seek to encourage third party donations to its projects and operations through B-BBEE accreditation and obtaining approval from SARS to issue Section 18A receipts for donations received.

Website Page Development: a dedicated Foundations page will be developed for the TASC website which will showcase impact stories from various programs and projects as well as “trust-building” content demonstrating the policies and procedures that are in place to ensure transparency and accountability in all its operations.