The Nigerian Exchange Limited (NGX) has called on businesses to adopt sustainable business practices and report sustainability performance to stakeholders to promote inclusivity in transformational initiatives for the economy and society.
This call was made yesterday at the Digital Closing Gong Ceremony, organised by NGX in celebration of the 2022 World Environment Day, themed: ‘Only One Earth’.
Chief Executive Officer, NGX, Temi Popoola, noted that the critical roles required of the private sector in actualising the Sustainable Development Goals (SDGs) and the Paris Agreement now enjoys some clarity, as such 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) disclosures 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 so as to increase the availability of decision-useful ESG data that investors can utilize in making investment decisions.”
On celebrating the 2022 World Environment Day with specific companies, Popoola mentioned that it was important to celebrate businesses that understand the strategic competitive advantage that sustainability creates as well as honour listed companies who are setting 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 the platform was launched in 2019.”
In developing this unique platform, the Exchange’s objectives were to mainstream the adoption of sustainability reporting amongst listed companies so as to increase the availability of decision-useful ESG data that investors can utilize in making investment decisions.
Group Managing Director, Courteville Business Solutions, Dr. Adebola Akindele, discussed initiatives embarked on to align his organisation with the SDG goals, including the introduction of active carbon trading equipment for motorists to regulate vehicular carbon emissions.
Lafarge Africa highlighted some strategies towards providing sustainable building solutions, creating a zero-waste initiative, implementing sustainable manufacturing, utilizing renewable energy and deploying rail transportation for distribution of products to end-users, thereby reducing carbon emissions.
GMD/CEO, Dangote Cement Plc, Michel Puchercos, represented by the Group Financial Officer, Guillaume Moyen, stressed the need for collective efforts in prioritising the environment, one that Dangote Cement through key initiatives, has unlocked.
On his part, GMD/CEO, Flour Mills of Nigeria Plc, Omoboyede Olusanya, spoke about the miller’s initiatives to promote sustainable supply chain management, where operations have been aligned with product sustainability themes.
“Beyond installing capacity banks, sustainability initiatives around recycling to save N250 million in product packaging have been introduced to our operations,” he said.