The Nigerian Exchange (NGX) has stated that the adoption of sustainable business practices and reporting sustainability performance to stakeholders would promote inclusivity in transformational initiatives for the economy.
Chief Executive Officer of the NGX, Temi Popoola, while speaking at a digital closing gong ceremony marking the 2022 World Environment Day themed, ‘Only One Earth’ in Lagos on Friday, said the critical roles required of the private sector in actualising the Sustainable Development Goals (SDGs) and the Paris Agreement now enjoy some clarity.
According to Popoola, businesses would need to incorporate environmental and social factors into their operations and activities.
He said: “We have only one earth and we all have a part to play in preserving it. For this reason, NGX created the Facts behind the Sustainability Report platform to promote transparency in environmental, social and governance (ESG) disclosure by showcasing the sustainability performance and reporting amongst companies listed on NGX.
“In developing this unique platform, the exchange’s objectives were to mainstream the adoption of sustainability reporting amongst listed companies. This is to increase the availability of decision-useful ESG data that investors can utilise in making investment decisions,” he said.
Speaking further on the reason for celebrating the 2022 World Environment Day with specific companies, the CEO said it was important to celebrate businesses that understood the strategic competitive advantage that sustainability created.
He said it was also to honour listed companies that set an example by disclosing their sustainability performance.
“For this year’s World Environment Day celebrations, we have chosen to celebrate companies that have demonstrated leadership in sustainability reporting by leveraging the NGX Facts Behind Sustainability Report platform for good reason.
“Our commendation goes to the Boards and executive management of Courteville Business Solutions Plc, Dangote Cement Plc, Flour Mills of Nigeria Plc, Lafarge Africa Plc and Seplat Energy Plc who have leveraged the ‘Facts behind the Sustainability Report’ platform since it was launched in 2019,” he added.
Popoola, reaffirmed NGX’s commitment to fostering the growth of long-term sustainable finance, toward combating climate change and environmental concerns across Africa.
According to him, the exchange is upscaling its platforms to advance sustainable development in new ways that reflect the risks and opportunities presented by climate change and the SDGs.
Group Managing Director, Courteville Business Solutions, Dr. Adebola Akindele, at the event, discussed initiatives embarked on to align his organisation with the SDG goals.
Akindele said such efforts included setting up a social capital management team that trained stakeholders on sustainable business practices, workplace diversity, and cultural background and language.
He further suggested the introduction of active carbon trading equipment for motorists to regulate vehicular carbon emissions.
“We are at the forefront of demonstrating sustainable behaviour at Lafarge Africa Plc,” said Khaled El Dokani, country CEO of Lafarge Africa Plc.
El Dokani, who was represented by Chief Finance Officer and Executive Director of the company, Lolu Akinyemi, highlighted some strategies deployed by Lafarge Africa towards providing sustainable building solutions.