Adopt sound sustainable impact reporting procedures, NGX tells companies

NGX Regulation Limited (NGX REGCO) has called on corporate bodies to adopt sound procedures in reporting their environmental and social impact.

Tinuade Awe, chief executive officer, NGX REGCO, made the call at a recent webinar hosted by the Corporate Secretaries International Association (CSIA).

The virtual event was to explore how businesses and organisations can carry out a full 360 approach to market disclosure.

The programme was themed ‘Unlocking ESG for Boards from Strategy to Disclosure’.

Awe encouraged companies to adopt best practices in their disclosure on environmental, social, and governance (ESG) issues by ensuring that their sustainability reports capture relevant sustainability disclosures that are relevant to their stakeholders.

Speaking on the importance of measuring and reporting sustainability performance for companies, the NGX REGCO boss said, the world is facing major sustainability challenges including inequality, overpopulation, climate change, and several environmental risks.

“By recognising that capital allocation makes a real impact on the environment and society at large, investors can reap sustainable long-term investment decisions through investments in ESG-themed investments,” she said.

“Furthermore, adopting an ESG-lens in our approach to investment is critical for investors to identify businesses that implement a forward-looking approach to managing long-term risks and leveraging opportunities that ensure long-term economic, environmental, and social responsibility.”

NGX Regulation — a wholly-owned subsidiary of Nigerian Exchange Group (NGX Group) — is responsible for enforcing clients’ listing and trading rules in accordance with global best practices.