Crowe Dafinone’s Post

ESG/Sustainability is undergoing a transition. It’s moving from ‘nice to have’, to ‘mandatory’ in most regulatory jurisdictions across the world. In #Nigeria, the FINANCIAL REPORTING COUNCIL OF NIGERIA recently announced the adoption of the new global sustainability standards - International Sustainability Standards Board (ISSB) IFRS S1 and S2. This expands what companies need to report on, and requires #sustainability and #ESG information to be captured differently and reported in a more structured and in-depth manner. To comply with the new regulatory requirements, businesses in Nigeria will now need to implement sustainability strategies and issue annual sustainability disclosures based on the new standards. What does this mean for your business and how should you be preparing for this change? Join this session with Ivana I. Osagie, Tinuade Awe, M.CIoD and Iheanyi Anyahara, Ph.D, FCA, FFAR, MNIM, CNA to find out. To register, scan the QR Code or use this link: bit.ly/PWRA_ESG1

We have just released our 2023 Sustainability Report adopting the IFRS Foundation Sustainability Reporting Standards. We’re humbled to be a pioneer in Nigeria to have adopted these global reporting standards. At MTN Nigeria, we recognize the importance of creating long-term value for our stakeholders, which is reflected in our dedication to sustainability and as an early adopter of the IFRS global standards. The report highlights some of the strategies we’ve employed to integrate sustainability and ESG into our DNA. We are encouraged by our progress, especially our reputation index score of 84 and a 10.3% reduction in Scope 1 and 2 emissions. We're committed to continued improvement and transparency, as we strive for net zero emissions by 2040. I will provide more context on some highlights of the report in a #MTNSustainabilitySeries in the coming days. For now, you can access the report here https://lnkd.in/dkVBJZ8T Congratulations to all MTNers, particularly the Sustainability & Shared Value team led by Kemi Adisa on this incredible feat. We are also grateful to our partners IFRS Foundation International Sustainability Standards Board (ISSB) FINANCIAL REPORTING COUNCIL OF NIGERIA Dr. Rabiu Olowo Nigerian Exchange Group (NGX Group) Ndidi, Dr Nnoli-Edozien  #MTNNigeria #Sustainability #ESG #DoingforTomorrowToday #SharedValue #Ambition2025 #WhatAreWeDoingToday

▶️ ISSB SERIES: International Sustainability Standards Board (ISSB) STANDARDS IN SOUTH AFRICA: ARE THEY MANDATORY? IFRS S1 and S2 are not yet mandated in South Africa although, pending changes to the Companies Act, they may well be in the future. We have seen early adopters leading the way in Africa (Nigeria, Zimbabwe, Ghana, and Kenya). 🇳🇬 🇿🇼 🇬🇭 🇰🇪 🇿🇦 South African companies can voluntarily align now to get ahead of future regulations. SAICA advises starting early to manage risks effectively and ease future compliance when reporting becomes mandatory. Is anything stopping you from early alignment? Read more about the benefits of early alignment, and how to begin your alignment journey here: https://lnkd.in/e78J_7C7 #ISSB #IFRS #CompaniesAct #SustainabilityReporting #ESG #InceStrategicAdvisory

I had the privilege of delivering the opening remarks at the Sustainable Finance Summit, a collaboration between Stanbic IBTC Holdings Plc and the Lagos Business School Sustainability Centre. This event provided a unique platform for business leaders to discuss challenges, opportunities, and strategies for creating economic, environmental, and social value for African businesses and communities through sustainable finance. In my remarks, I underscored the importance of prioritising investments that yield ecological and socio-economic benefits for the continent and its people, emphasising the financial sector's role in promoting such opportunities for sustainable finance investments. While the concept of sustainable finance is still emerging, many countries and organisations are already implementing ESG initiatives. However, Africa faces a significant financial gap of $1.3 trillion annually to meet its SDG targets by 2030. To address this issue, the Nigeria Stock Exchange recommends raising awareness about sustainable finance, developing more sustainable financial products and instruments, and implementing sustainable digital financial solutions. By adopting these measures, Africa can capitalise on the potential of sustainable finance and establish a more resilient financial landscape that addresses ESG risks and fosters inclusive economic development that benefits us all. What are your thoughts on the role of sustainable finance in Africa's development? Let's discuss.

An assessment by ADB found a growing capital market and expansion in green #finance in #Mongolia. The country’s financial sector, however, faces issues like inadequate disclosure standards and a limited institutional investor base. ADB jointly organized a seminar to discuss strategic action plans such as 1️⃣ enhancing regulatory frameworks 2️⃣ fostering #market development for green products 3️⃣ incentivizing low-carbon initiatives, and 4️⃣ aligning with international disclosure standards to help Mongolia transition to a #sustainable, green #economy. 🟠 Access the seminar’s presentation materials at https://buff.ly/3ZntSLV #SDG8 #SDG13 Raquel Borres, Michelle Visaya, Laila Deles

🌍 Announcing the Launch of the Roadmap for Inclusive Green Finance Implementation V.2! 🌍 Amarante Consulting is proud to have collaborated closely with the Alliance for Financial Inclusion (AFI) in crafting the Roadmap for Inclusive #GreenFinance Implementation V.2. This updated guide presents real-world examples, actionable insights, and challenges faced by regulatory bodies from six pioneering countries—Bangladesh, Ecuador, Egypt, Papua New Guinea, the Philippines, and Zambia. It provides a pathway for countries to build financial systems that are both inclusive and resilient to climate change. At the heart of this last version of the roadmap are voices from front-line leaders in #InclusiveGreenFinance (IGF), whose work has laid down the foundation for innovative green finance policies worldwide. With this second version, we’re excited to highlight how the IGF Building Blocks have been put into practice, offering a framework for #sustainable financial growth that includes everyone, especially vulnerable communities. Chris Czerwonka, Pascal SIMON Sahana Arun Kumar Mariangela Pensa Antonia Bassène Milton Vazquez Maida Zafar Alice Pastre Explore the journey toward a greener, more inclusive financial system! #SustainableFinance #ClimateAction #FinancialInclusion #ClimateChange #Resilience

Crack the code for responsible investment The Code for Responsible Investing in South Africa (CRISA) is a framework for investors and companies to enhance their ESG practices, align with global standards, and contribute to sustainable development. Here’s an easy-to-understand infographic of CRISA2, an update of the initial code. 

Take a step forward to understand what is happening in Africa regarding Sustainability disclosure! I´m in! International Accounting Standards Board (IASB) #sustainabilitydisclosure #ISSBStandards

𝗗𝗮𝘆 𝟮𝟲 𝗼𝗳 𝟯𝟬 - 𝗗𝗮𝘆 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲! 📌 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗣𝗿𝗼𝗺𝗼𝘁𝗶𝗻𝗴 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 Sustainable finance thrives on strong regulatory frameworks. These regulations guide financial markets to align with environmental, social, and governance (ESG) goals. Frameworks like the 𝗣𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀 𝗳𝗼𝗿 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗹𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 (PRI) encourage investors to integrate ESG factors into decision making, while the 𝗨𝗡 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗼𝗺𝗽𝗮𝗰𝘁 provides principles for businesses to adopt sustainability into their strategies. Regulations drive financial institutions to prioritize green bonds, renewable energy investments, and inclusive economic growth. For example, the 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗨𝗻𝗶𝗼𝗻’𝘀 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 (𝗦𝗙𝗗𝗥) mandates transparency in ESG reporting, influencing global best practices.  Some specific initiatives in Africa include: ▪ The Sustainable Banking Principles in Nigeria (NSBP) ▪ Kenya’s Green Bond Program ▪ South Africa’s King IV Report on Corporate Governance ▪ The African Development Bank (AfDB)’s Initiatives 🤔 Imagine a farmer receiving a bank loan specifically for organic farming because regulations encourage banks to fund sustainable agriculture. Without these guidelines, loans might favor practices that harm the environment, like deforestation and illegal mining. By fostering accountability, regulations ensure that financial markets not only grow but do so responsibly, building a more resilient future for all. #SustainableFinance #Regulations #ESG #ResponsibleInvestment #UNGlobalCompact #PRI #ClimateFinance #GreenFinance #AfricaFinance #Sustainability #FinanceForImpact

Join me as I discuss "Contemporary Issues in Sustainability in the Public Sector" at an upcoming training organized by The Institute of Chartered Accountants of Nigeria. Equipping the public sector to drive a sustainable future! #Sustainability #PublicSector #ICAN" https://lnkd.in/dFpVpDCG