NSE launches Sustainability Report to promote ESG reporting

…Dangote Cement headlines maiden edition

In its quest to continually champion sustainable practices in the African capital markets, The Nigerian Stock Exchange (NSE), yesterday, launched its Facts Behind the Sustainability Report (FBSR), with Dangote Cement Plc (DCP) presenting at the maiden edition on the Stock Exchange House, Lagos.

Styled after the NSE’s flagship Facts Behind the Listing, and Facts Behind the Figures series, the Exchange said the FBS Report is designed to further promote the adoption of Environmental, Social and Governance (ESG) practices, reporting, and disclosure and encourage responsible long-term approaches to investment.

It also provides a platform for listed companies to address stakeholders with in-depth analysis of their sustainability initiatives, as well as spotlight stakeholder engagements, materiality, standardization and overall disclosures.

Commenting on the launch of the FBSR, the Chief Executive Officer, the NSE, Mr. Oscar N. Onyema, said: “better ESG reporting is key to strengthening capital markets and achieving a sustainable global economy. The Exchange is strategically positioned to influence the adoption of globally recognized sustainability standards by Nigerian businesses and we continue to highlight the importance of sustainable business practices in delivering value to our listed companies and investing public to support economic growth.” 

He added: “To consolidate our efforts of partnering with listed companies to create value through reporting, we are happy to launch the NSE Facts Behind the Sustainability Report to facilitate more meaningful engagement between investors and listed companies on ESG risks and opportunities. We welcome the Executive Management of Dangote Cement Plc for the maiden edition of FBSR to brief the investing community on details of their first ever stand-alone sustainability report.  It is our belief that this giant step taken by DCP will encourage other listed companies, especially those on the Premium Board, to come for their FBSR at The Exchange. This will provide them the platform to showcase their efforts in sustainability and corporate governance as well as address investors’ requirements on ESG issues.”

Consistent with its commitment, NSE, earlier this year hosted a Sustainability Reporting Implementation Workshop, in partnership with Global Reporting Initiative to enable listed companies adopt reporting principles discussed in the recently launched NSE Sustainability Disclosure Guidelines.

CSR-Sustainability consultants & assurance providers, investors, stockbrokers, shareholders associations, media and other investment stakeholders are invited to attend this inaugural Facts Behind the Sustainability Report.