Businesses Urged to Integrate ESG Goals for Sustainable Development

Emma Okonji

Nigerian businesses and other businesses operating in Nigeria have been urged to integrate Environmental, Social and Governance (ESG) goals in their workplace for the purpose of sustainable development of the business and the workers.

Industry experts that attended the Sustainable Futures Africa Event, organised by Hudson Sandler and Global Compact Network Nigeria in Lagos on Wednesday, called on businesses to ensure full integration of ESG policies that could boost profitability and drive meaningful impact in their businesses.

The Executive Secretary, Financial Reporting Council of Nigeria, Dr. Rabiu Olowo, who was represented at the event, highlighted the need for organisations and businesses to be more transparent in their corporate disclosures in all financial transactions, while speaking on the theme: ‘ESG Advantage-Shaping Profitable and Purposeful Paths for Sustainable Development in Nigerian Businesses’.

He pledged the commitment of the council to serve the public interest as a regulator, and encouraged businesses to deliver high standard corporate governance, financial and ESG reporting in their organisations in order to deliver economic and sustainable growth for Nigeria. He said Nigerian businesses could benefit immensely, should they fully embrace ESG policies.          

The Chief Compliance Officer and Company Secretary, Oando Plc, Ayotola Jagun, said Oando had been restructured in line with ESG goals. According to her, Oando is keen about staff relationship and how to retain staff and encourage them to believe in the company. She stressed the need for businesses and organisations to invest in capacity development of staff in a manner that will discourage the mass exodus of Nigerian workers out of the shores of the country in search of greener jobs and work satisfaction. 

Chief Corporate Service Officer at IHS, Dapo Otunla, said the core values of IHS, a connectivity company that provides access to telecommunication services through telecoms towers, are built around customer focus, innovation, integrity and sustainability.

The Vice President, Corporate Communications, Airtel Africa, Mr. Emeka Oparah, said the telecoms company had always remained strong in implementing its ESG policies that are built on for pillars, Business, People, Community and Environment, with emphasis on education.