The Institute of Directors for Southern Africa has issued The Code for Responsible Investing in South Africa (“CRISA”) which gives guidance on how the institutional investor should execute investment analysis and investment activities and exercise rights so as to promote sound governance. There are five key principles: (i) an institutional investor should incorporate sustainability considerations, including environmental, social and governance, into its investment analysis and investment activities as part of the delivery of superior risk-adjusted returns to the ultimate beneficiaries; (ii) an institutional investor should demonstrate its acceptance of ownership responsibilities in its investment arrangements and investment activities; (iii) where appropriate, institutional investors should consider a collaborative approach to promote acceptance and implementation of the principles of CRISA and other codes and standards applicable to institutional investors; (iv) an institutional investor should recognise the circumstances and relationships that hold a potential for conflicts of interest and should proactively manage these when they occur; and (v) institutional investors should be transparent about the content of their policies, how the policies are implemented and how CRISA is applied to enable stakeholders to make informed assessments.