NSE Launches FBSR To Promote ESG Reporting

…Dangote Cement Plc Headlines Maiden Edition

Yemisi Izuora
In its quest to continually champion sustainable practices in the African capital markets, The Nigerian Stock Exchange, NSE, has launched the Facts Behind the Sustainability Report (FBSR), with Dangote Cement Plc (DCP) presenting at the maiden edition on Thursday, May 30, 2019, at the Stock Exchange House, Lagos.

Styled after the NSE’s flagship Facts Behind the Listing and Facts Behind the Figures event series, the Facts Behind the Sustainability 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 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 of the NSE, Mr. Oscar N. Onyema, OON, said that “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”.  

“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”, added Onyema.

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

Add Comment