Panel session at the strategic ESG summit
Businesses have called for the implementation of a robust Environmental, Social and Governance (ESG) framework that encourages reduction in carbon footprints, contributing to global effort to combat climate change and conserve energy and other essential resources.
This assertion was made at the Strategic Environmental, Social and Governance (ESG) Summit held in Accra.
Speaking at the summit, General Manager of ESG and Impact at Pan African Tower, Dr. Aluko Timothy, outlined key areas that organisations must focus on to achieve effective sustainability ESG practices.
He stressed the importance of establishing realistic, targets—specific, measurable, achievable, relevant, and time-bound goals that guide sustainability efforts. He further called for leadership commitment, stating that effective leadership is essential in navigating challenges.
“Our leaders must not only endorse ESG principles but also embody them in their decision-making processes,” he stated.
Dr. Timothy warned against treating ESG as a standalone department, urging integration across all organisational functions to maximise its impact.
Dr. Timothy indicated that by 2028, organisations will be required to report transparently on their financial flows and sustainability practices, urging organisations to commit to integrating ESG principles into every aspect of their operations.
“By doing so, we can create a sustainable future while addressing the needs of our stakeholders and society at large,” he said. He called on attendees to ensure that ESG initiatives are not just an afterthought but a core part of their organisational strategy.
Chief Risk Officer, UBA Ghana, Kenneth Owusu Asante Amponsah, on his part indicated that, “As we move forward, it is essential that we do not become overwhelmed by the challenges but instead embrace them as opportunities for growth and innovation. Together, we can foster a sustainable future while achieving our business goals,” he said.
Mr. Asante Amponsah also mentioned that UBA Ghana is committed to a dual approach, “we want to be environmentally responsible while also driving profitability. Our commitment to sustainability is reflected in our desire to “go green” while still generating revenue—essentially, we can make “greens” by going “green.” This is our guiding principle as we reshape our banking practices.”
Executive Director of the GoldField Ghana Foundation, Abdul Razak Yakubu, stressed the importance of investing in Corporate Social Responsibility (CSR). He pointed out that organisations must take care of their communities and the environment while respecting human rights, stating that the Foundation has invested over $100 million in corporate social responsibility over the past two decades.
BY Prince Fiifi Yorke