According to The Nigerian Exchange Limited, the transformation of the Nigerian economy depends on sustainable finance.
Jude Chiemeka, Divisional Head, Capital Markets, NGX, stated this during his remarks at the Investor Engagement session co-hosted by NGX and the Global Reporting Initiative on Wednesday in Lagos with the topic “Empowering Responsible Investing – ESG Disclosure.”
In order to better inform the investor community about using environmental, social, and governance data in decision-making, GRI collaborated with the Exchange on the engagement session.
The exchange recognizes the strength and promise of responsible investing, according to Chiemeka. Sustainable finance is more than just a trendy term; it is a powerful force that has the power to improve both our economy and society.
He continued by saying that the NGX has embraced this ambition and made real progress toward responsible investment practices.
The NGX Divisional Head emphasized the crucial part GRI plays in establishing the framework for global sustainability reporting, stating that “by their work, they have paved the way for increased accountability and ethical business practices. We applaud their perseverance and passion to creating a more sustainable future.
Dr. Aisha Mahmood, the Special Adviser to the Governor, Central Bank of Nigeria, on Sustainable Banking, gave the keynote talk. She discussed the CBN’s efforts to promote sustainable banking in the nation through enforcing regulatory ESG disclosure requirements for banks.
Additionally, she mentioned that the CBN was examining the Nigerian Sustainable Banking Principles in order to include climate risk reporting for the banking industry.
The Director of GRI Africa, Mr. Douglas Kativu, who was represented by Manager of GRI Africa, Tendai Matika, emphasized the importance of ESG information for investors and gave companies advice on how to prepare their disclosures in accordance with GRI guidelines.
Investors often want to understand the main environmental, social, and governance (ESG) risks and opportunities facing a corporation, including how the firm assesses and monitors these issues among other things, according to Kativu.