ESG disclosure demands on the increase in Africa

Sustainability-related disclosure is evolving rapidly across Africa, driven by increasing awareness of environmental, social, and governance (ESG) issues and the need for greater transparency and accountability in business practices.

According to Philippa Burmeister, partner and principal environmental scientist at SRK Consulting, the Johannesburg Stock Exchange (JSE) has been a leader in the awareness of environmental, social and governance (ESG) issues on the continent, aligning with stock exchanges in Europe and North America by requiring listed companies to produce integrated reports that include sustainability information.

“The African Securities Exchanges Association (ASEA) is also behind this important agenda and is working towards harmonising sustainability reporting standards across member exchanges – promoting best practices and consistency in ESG disclosures,” said Burmeister. “Similarly, the African Development Bank (AfDB) is actively promoting sustainable development and encouraging companies to adopt ESG reporting through various initiatives and funding programs.”