NSE Lists Benefits of Sustainability Reporting for Quoted Firms

The adherence to the disclosure of environmental, social and governance (ESG) principles is increasingly becoming a tool for meaningful engagement between investors and listed companies.

The Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, stated this recently, at a virtual Facts Behind the Sustainability Report(FBSR), sponsored by Courteville Business Solutions.

“Today is yet another historic day for sustainability at the NSE as we host the first virtual FBSR. We are pleased that Courteville Business Solutions Plc has chosen to champion the maiden edition of this series and we commend the board and executive management for their leadership in integrating sustainability into the core of their business operations.

“We encourage Courteville Business Solution Plc to continue adhering to high standards of corporate governance, deepening its social impact, exceeding regulatory compliance levels, and delivering greater returns to its shareholders,” Onyema said.

On his part, the Group Managing Director, Courteville Business Solutions, Adebola Akindele said: “I must thank the management of the NSE for once again allowing us to be the poster company for medium-sized enterprises and to headline this maiden event.

“In our bid to institutionalise sustainability goals and integrate into our corporate governance, we created the Social Capital Management Unit (SCMU) in line with the NSE’s Sustainability Disclosure Guidelines. We have recorded impressive results across economic, environmental, social and governance standards and we continue to build on our efforts, ensuring that we remain transparent and accountable to our stakeholders.”

The event also featured a special presentation from Chair, Business and Sustainable Development, University of Edinburgh Business School, Prof. Kenneth Amaeshi, who highlighted the value of sustainability reporting.

He noted that, “Sustainability is an impact management mindset for organisational and societal benefits, and a good sustainability strategy is deeply rooted in transparency and disclosures. Sustainability reporting can, therefore, be viewed as a health check for organisations to see how they can improve performance, build trust and improve efficiency.”

With the outbreak of Covid-19 globally significantly influencing the way businesses go about their operations, the NSE continues to leverage technological infrastructure to maintain remote operations and engage stakeholders. It is, therefore, refreshing to see the FBSR presentation series, which was launched in 2019, now being hosted on a virtual platform.

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