Global Compact Network Kenya (GCNK)’s Post

Beyond compliance: The strategic imperative of sustainability in business By Laina Likius Sustainability is rapidly becoming a focal point in global business and policy conversations as companies recognise the necessity of balancing environmental, social, governance (ESG), and economic considerations. In Namibia, however, the integration of sustainability into business operations remains in its early stages, with varying levels of understanding and commitment. For many, sustainability is still viewed primarily as a compliance or ethical consideration rather than a core strategic tool. Business leaders must work at shifting this perception and embrace sustainability as a driver of long-term commercial value success and a powerful competitive differentiator that positively enhances business reputation. https://lnkd.in/dhxyAtAy #namibia #ESG #compliance #business Capricorn Group Limited Marlize Horn (APR)

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

I am honored to have participated in the Sustainability Week organized by the PAN AFRICAN FEDERATION OF ACCOUNTANTS (PAFA), which highlighted the importance of sustainability standards in Africa. The theme, "Forging a Sustainable Future: Strategies and Tools for Accelerated Implementation of Sustainability Standards in Africa. #Sustainability #PAFA #Accountants #Africa #SustainableFutureIFACNicodème ADZRAMars MUKAHubert TondeurLaetitia EKOMISA

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.

EY Zambia Sustainablity Report Launch The Keynote Speech by the Minister of Green Economy, Hon. Collins Nzovu, MP, read on his behalf by his Permanent Secretary, Dr. Douty Chibamba. The keynote address at the EY Zambia Sustainability Breakfast was delivered by Permanent Secretary Dr. Douty Chibamba on behalf of the Ministry of Green Economy and Environment - Zambia Minister Hon. collins nzovu. The Sustainability Breakfast event was hosted at Radisson Blu, Lusaka, and sees the launch of EY Zambia’s second Sustainability Report. The Keynote brought invaluable perspectives on sustainability reporting's pivotal role. Government is forging partnerships that are designed to face sustainability issues faced by the country head on. Transparency is a critical element of sustainability reporting, underscoring how robust sustainability reporting frameworks enable organisations to accurately measure and communicate their ESG performance, facilitating accountability. These insights provide a policy-level lens on the transformative potential of standardised reporting. #eyzambia #ESGReporting #SustainabilityStandards #FinancialInsight #Get2Know #Get2know #EY #Sustainablity #Report

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

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).

Over the last decade, focusing on ESG factors has become an essential part of Mediterrania Capital Partners daily activities, both as a Private Equity firm and in working with our portfolio companies and investments. Driven by Rajaa Berrkia and Nada Ragab, the impact that we are creating in Economic and Social matters and Environmental Responsibility in Africa is measured and reported regularly and summarised in our annual report. Job creation, empowering local economies, improving education, healthcare and living standards—while implementing sustainable practices that mitigate climate change risks—lead our actions as a PE firm committed to delivering high returns through responsible strategies. Request a copy of our Impact Report to learn more! https://lnkd.in/dd6VJZU3   #Sustainability #ImpactInvesting #PrivateEquity #PositiveChange #ESG #SocioeconomicImpact #ResponsibleInvesting

Tough new EU #sustainability rules risk stripping developing countries — particularly their #SMEs — out of the bloc's supply chains. For EU firms facing stiff penalties and reporting requirements regarding their value chains, these suppliers could simply become too big a risk. Investment promotion agencies at last week's #Aftercare Forum in #Florence were urged to take a bigger role in helping companies and their suppliers comply with #ESG rules, to avoid disrupted investment and trade flows. Are #IPAs up to the task? Check out Danielle Myles's piece which gathers their reactions, and let us know your reply in the comments 👇🏽 Thank you to Dr. Martin G. Kaspar for starting the conversation, and Victor do Prado, Javier Martinez Iñiguez, Wendy Mena, Ivi Anna Buce and Mariëlle Balk-Haasnoot for their insights. #aftercareforum2024 #aftercareforum #ESG #supplychainrules #supplychains #CSDDD #CBAM #carbonborderadjustmentmechanism #investment #firenze #event #investmentpromotionagencies #Tuscany #investmentpromotion #economicdevelopment #PalazzoCapponi #foreigndirectinvestment Cities & Collaboration Invest in Tuscany Invest in Spain Invest Guatemala Netherlands Foreign Investment Agency Latvijas Investīciju un attīstības aģentūra - LIAA #developingcountries https://lnkd.in/e_3jAyq2

⭕ A great opportunity for ICEX #Investinspain to analyse the new EU sustainability rules during the Aftercare Forum 2024 in Florence.   🌳 We talked about the new 🇪🇺 Corporate Sustainability Reporting Directive, one of the most important pieces of legislation that companies will have to adapt to in the coming years.   📝 As we did in a recent working session in our headquarters in #Spain it is crucial that companies are aware of the new requirements ahead of the legislation so that they can prepare in advance.   ✅ Thanks to Invest in Tuscany and Cities & Collaboration for organising such an interesting forum. Via fDi Intelligence   #sustainability #entrepeneurship #FDI #CSRD #AftercareForum #ESG Javier Martinez Iñiguez