Financial Insight Zambia’s Post

Listen to the remarks by PS for Ministry of Green Economy and Environment of Zambia on the sustainability event that EY Zambia held today. Also remember the definition of sustainability: “Sustainability and ESG Sustainability is the practice of operating a business in a way that meets the economic, social and environmental needs of the present without compromising the ability of future generations to meet their own needs.” (EY Global).

I was thrilled to attend the Socio-Economic Impact Assessment event organized by the Sustainability Professionals Institute of Nigeria today. A key highlight was Dr Bankole Allibay's insightful discussion on stakeholder engagement and double materiality. He emphasized the need for a comprehensive engagement plan, understanding stakeholder influence, and integrating sustainability into business practices to create long-term value. Dr Bankole Allibay explained how double materiality examines both how business activities affect society and the environment (inside-out view) and how societal and environmental factors impact the business’s financial performance (outside-in view). This dual perspective is crucial for addressing stakeholder needs and balancing environmental, social, and economic sustainability. Other important topics covered included identifying, measuring, and managing material impacts, as well as implementation and reporting standards. Standards and frameworks such as ISO 26000 on social responsibility, the UN Global Compact, SA 8000, and reporting frameworks like the GRI, Integrated Reporting Framework, IFRS/ISSB (S1 and S2), and the European Union’s Non-Financial Reporting Directive (NFRD) were discussed. The concept of long-term value, business sustainability, and the techniques for measuring long-term value were not left out. Thank you, Sustainability Professionals Institute of Nigeria, for this event and to Dr Bankole Allibay for the wealth of knowledge shared.

💥 Institutional Obligation: Reporting to Society 💥 🌱 In this era of sustainability reporting, transparency and accountability are paramount for organizations. Even though sustainability reporting within the East African region is still relatively nascent compared to more developed markets, the Report to Society has emerged as a crucial tool for organizations committed to sustainability. 🌱 It is not just a document but a powerful means to engage with diverse stakeholders. In Uganda, Several institutions like Stanbic Bank, Kakira Sugar Works, National Social Security Fund, UMEME Limited, Tullow Oil, and several others have already started on this journey by mapping their sustainability initiatives to the relevant United Nations Sustainable Development Goals (UN SDGs) targets in their reports. 🌱 This comprehensive document showcases an organization's efforts to address environmental, social, and governance (ESG) issues. It serves as a bridge, connecting your organization with crucial stakeholders in your sustainability journey. This report can serve various stakeholder groups effectively by addressing their unique interests and concerns, demonstrating that their voices are heard and valued. 🌱 Remember to highlight your organization's commitment to environmental sustainability in this report by focusing on explicit, accessible, and impactful content that resonates with your stakeholders. For those institutions that are still figuring it out, these are some of the key interest areas to focus on for the different stakeholder groups, i.e., investors, customers, and employees: #leadership #sustainability #esg #climatechange #management #entreprenuership

Environmental, social and governance (ESG) imperatives have become fundamental to the investment decisions businesses make. By effectively including and implementing ESG in business strategy, businesses can become more resilient and attractive for investment. The 2024 Sanlam ESG Barometer is broadening its scope to include insights from companies listed in Kenya. The report, using research led by Krutham, will delve into the evolving ESG dynamics, examining how both JSE-listed and Kenyan-listed companies are actively enhancing environmental and social outcomes through their activities. Join Sanlam and Business Day for the launch of the second Sanlam ESG Barometer Report that will continue to shine a spotlight on ESG additionality and explore how investment decisions by companies can drive transformative positive impact for societies. 💡 Get to know our speakers and moderators: Andile Khumalo, Lyndon Barends, Stuart Theobald, CFA, Nicole Martens, Karl Xhanti Socikwa, Abel Sakhau, Dr. Achieng Ojwang, Heather Jackson, Frank Mwiti, Sylvester Sebico, Lilian Mwikali, Carl Roothman, James Mackay, Tsheko Ratsheko, Michael Solomon, Iman Rappetti, Nastassia Arendse, Sanlam Kenya

This should be interesting. Follow the insights from the EY Sustainablity Report 2023 launch on the Financial Insight Zambia #Get2know #Sustainablity #ESG #FinancialInsight #EY

As a sustainability enthusiast and consultant, guiding clients toward sustainable practices and technologies that can bring substantial benefits, including cost savings, brand enhancement, regulatory compliance, and improved operational resilience is my goal. I'm herewith recommending some impactful practices and technologies worth considering, some more relevant than others vis-a-vis your sector of operations. Adopting these sustainable practices and technologies will not only improve your environmental impact but also offer significant financial and operational benefits, enhancing profitability and long-term resilience. Embedding sustainability at every level of the business allows companies to align their financial goals with a broader mission, ultimately creating value for all stakeholders. Kreston Pedabo Kreston Global Women In Management, Business & Public Service Lagos Chamber of Commerce and Industry UN Women Sustainability Central #sustainability #esg #businessowners GIZ Nigeria & ECOWAS

As a South African sustainability company, we are deeply invested in how our neighboring countries are shaping their sustainability journeys. Kenya, a key player on the continent, has made significant strides in 2024 with the launch of its 𝗥𝗼𝗮𝗱𝗺𝗮𝗽 𝗳𝗼𝗿 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝗜𝗙𝗥𝗦 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀. This groundbreaking initiative, led by ICPAK (Institute of Certified Public Accountants of Kenya), sets a transformative tone for how businesses and public entities in Kenya will approach sustainability reporting, aligning their practices with global standards. Here’s how Kenya’s phased approach is laying the foundation for a more sustainable and competitive future: 𝗞𝗲𝘆 𝗺𝗶𝗹𝗲𝘀𝘁𝗼𝗻𝗲𝘀: The roadmap outlines a phased approach that began in January 2024: 1️. Voluntary Adoption: For early adopters began 1 January 2024. 2. Mandatory Adoption: Begins in 2027 for Public Interest Entities (PIEs), followed by large enterprises and SMEs in subsequent years. 3. Public Sector: Implementation will follow as frameworks are adapted to fit these unique requirements. 𝗞𝗲𝘆 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗳𝗼𝗿 𝗞𝗲𝗻𝘆𝗮: 𝗘𝗻𝗵𝗮𝗻𝗰𝗶𝗻𝗴 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀: Aligning with IFRS S1 and S2 provides Kenyan businesses with a global baseline for sustainability disclosures, elevating their standing in international markets. 𝗗𝗿𝗶𝘃𝗶𝗻𝗴 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀: Transparent reporting on environmental and social impacts attracts investors seeking responsible opportunities, unlocking capital for growth. 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗥𝗶𝘀𝗸𝘀: With a focus on climate-related risks and opportunities, organizations can better prepare for shifts in regulation, markets, and physical risks driven by climate change. The roadmap underscores Kenya’s dedication to building capacity, engaging stakeholders, and fostering a more sustainable, resilient economy. This isn’t just about compliance; it’s a bold step towards embedding sustainability into the fabric of business strategies and governance. #GCX #IFRS #KenyaSustainability

We spoke to EY Zambia Associate Partner Kantu Hachongo (FCCA FZICA) on the sidelines of EY’s Sustainability Report 2023 to get some insights into the report. WATCH KANTU’s INTERVIEW NOW #Get2know #Sustainablity #EY

Sustainability reporting is quickly becoming a critical tool for African organizations striving for global relevance and long-term resilience. As stakeholders increasingly demand transparency, companies are being held accountable for their ESG impacts. Across the continent, businesses in all industries are taking up this challenge. Countries such as South Africa, Kenya, Zambia, Zimbabwe and Nigeria have also integrated ESG disclosure requirements into their corporate governance frameworks, signaling a shift driven by regulatory compliance. At Impact Africa Academy, we are bridging these gaps by equipping professionals with the skills to produce impactful sustainability reports using the globally recognized GRI Standards. These reports not only enhance transparency but also open doors to new investments and strengthen organizational resilience. The GRI training course gives you the tools to communicate ESG performance effectively and align your strategies with global sustainability goals. Learn more: https://lnkd.in/dHMmU_xp #GRItraining The Association of Sustainability Practitioners , Global Reporting Initiative (GRI), Africa Sustainability Forum, Kenya Private Sector Alliance (KEPSA), Andris Kaneps, The South African Institute of Chartered Accountants (SAICA),National Business Initiative, Financial Reporting Council, PAN AFRICAN FEDERATION OF ACCOUNTANTS, Sustainable Development Solutions Network

Tanzania is on a remarkable economic progress, but achieving this requires a focus on long-term sustainability. ♻️ This is where Environmental, Social, and Governance (ESG) factors come in. ESG is a framework that helps businesses operate responsibly, considering their impact on the environment, their social well-being, and strong governance practices. I'm excited to share with you an article that delves deep into the core concepts of ESG and their significance in driving sustainable development in Tanzania. #ESG #Sustainability #Tanzania #SustainableDevelopment #Business #Environment #SocialImpact #Governance