The Nigerian Exchange Limited (NGX) has emphasized the significance of sustainable financing to the transformation of the Nigerian economy. At an Investor Engagement session in Lagos, NGX’s Divisional Head, Capital Markets, Jude Chiemeka, disclosed that sustainable finance had the potential to shape Nigeria’s society and economy positively. He further stated that NGX had taken concrete steps to encourage responsible investment practices and embraced sustainable finance as a transformative force.
NGX partnered with the Global Reporting Initiative (GRI) to educate investors on integrating environmental, social, and governance (ESG) data into their decision-making process. The NGX DH emphasized the prominent role GRI plays in fostering a global sustainability reporting landscape and commended their unwavering commitment to creating a sustainable future through greater accountability and responsible business practices.
At the event, the Special Adviser to the Governor, Central Bank of Nigeria on Sustainable Banking, Dr. Aisha Mahmood, recognized the CBN’s efforts in enabling sustainable banking in Nigeria. She said the CBN was reviewing the Nigerian Sustainable Banking Principles to incorporate climate risk reporting for the banking sector and enforcing ESG disclosures for banks.
The Director of GRI Africa, Douglas Kativu, represented by the Manager, GRI Africa, Tendai Matika, stressed the significance of ESG information to investors. He advised companies to prepare their disclosures in line with GRI standards, stating that investors want to understand a business’s significant ESG risks and opportunities and how it monitors and measures these factors.
In conclusion, NGX has demonstrated its commitment to sustainable financing as a vital driver of Nigeria’s economic growth. The investor engagement session organized by NGX and GRI has provided stakeholders with useful insights into incorporating ESG data into their decision-making process, thereby positively impacting Nigeria’s economy and society.
