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
this field 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 programmes.”
She highlighted that most disclosure practices in Africa are being shaped by international organisations and requirements such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).
