The graduate school of business administration at tertiary education institution University of the Witwatersrand, Wits Business School (WBS), has announced the launch of new Wits Mervyn King Centre for Corporate Governance and Sustainability.

The new centre of research is dedicated to ethics, corporate governance and environmental sustainability.

It will form an integral part of WBS, advancing knowledge and research on the integration of corporate governance and sustainability into business and societal transformation.

The centre was developed with the objective of creating world-leading skills development through postgraduate diplomas, MBA modules and executive education courses at WBS.

The centre was developed with the objective of creating world-leading skills development through postgraduate diplomas, MBA modules and executive education courses at WBS.

In addition, the centre will feed into the faculty’s Margo Steel School of Accountancy through its postgraduate diploma qualification in specialised accountancy, integrated thinking and value creation, which is the first of its kind and based on Professor Mervyn King’s thesis laid out in his book Chief Value Officer – Accountants can Save the Planet.

King is a senior counsel, former judge of the Supreme Court of South Africa, and a world authority on corporate governance.

The King Codes of Corporate Governance have “revolutionised” governance and reporting structures around the world, the WBS states.

Speaking at the official launch of the centre, Wits vice-chancellor and principal Professor Zeblon Vilakazi said King’s contribution to modern corporate governance and responsible reporting reflects an immense passion for and commitment to the planet and its people.

Wits’ Faculty of Commerce, Law and Management is privileged to have a close connection with a global role model such as King, he added.

“This centre is a fitting tribute to an extraordinary thought leader and will honour his legacy for generations to come.”

A Wits alumnus, King holds an honorary professorship at WBS and is patron of the Good Governance Academy, housed at WBS.

“The launch today of the Wits Mervyn King Centre for Corporate Governance and Sustainability is a highly significant and historical moment for WBS,” said WBS head and director Professor Maurice Radebe.

He added that businesses, locally and globally, are grappling with the complexities of technological, social and regulatory change and it is critically important that the principles of governance, ethics and sustainability are integrated into business education curricula.

“The school’s strategy is to put environmental, social and governance principles at the heart of all our programmes. The establishment of this centre will assist us in ensuring that future leaders are equipped with the moral compass needed to lead responsibly,” Radebe pointed out.

King’s enduring connection to Wits includes his near decade-long role as Wits University Foundation chairperson. Speaking at the launch of the Centre, King thanked the university for honouring his name and legacy.

This centre has come at a propitious time, as the country stands at the threshold of change which will see necessary amendments to the Companies Act, along with global sustainability reporting standards.

“The centre will, through the Good Governance Academy, have significant reach and will be equipped to lead the field in corporate governance and sustainability research for generations to come,” King concluded.