The sustainability reporting landscape needs to change, in general, globally, but also closer to home, within our operating contexts on the continent. Understandably, the proliferation of frameworks, guidelines and standards for sustainability reporting – there are currently over 600 different industry sustainability reporting standards globally – has made the process complex and daunting, whilst confirming the importance of sustainability reporting to organizations who seek to answer the question of: how can we better report our activities? The race to harmonize the various standards also led to the creation of the International Sustainability Standards Board (ISSB) at COP26 in Glasgow in 2021 by the International Financial Reporting Standards (IFRS) Foundation. Let’s return home a bit and talk about sustainability reporting in Nigeria …I would say that some organizations – most notably in financial services, energy and agro-allied industries – have demonstrated a commitment to sustainability. This goes back to leadership, organizational targets and policy documents that show a commitment to effective sustainability reporting.

Source: Nigerian Tribune May 25, 2023 23:41 UTC