Author(s): Ongayi Wadesango
This study explores the role of social and environmental (SE) stakeholders in the identification, prioritisation, and implementation of social investment decisions by JSE-listed companies. The focus lies on how these companies engage with stakeholders during planning, decision-making, and review stages. Despite the presence of corporate governance frameworks such as King III (2009), King IV (2016), GRI (2013), and IIRC (2013), findings indicate that SE stakeholder involvement remains largely at the compliance level. While companies cite stakeholder engagement in their integrated reports, interviews and media reports highlight a lack of meaningful collaboration, especially during the prioritisation and implementation stages. The study reveals inconsistencies between policy and practice, where boards retain decision-making power without sufficient consultation. Protests, environmental degradation, and stakeholder mistrust are emerging consequences. A few companies demonstrate promising practices through collaborative workshops and integrated stakeholder representation in decision-making bodies. The research recommends a shift from tokenistic involvement to relational, continuous engagement guided by shared value principles. Ethical and inclusive approaches are imperative for sustainable value creation.