Manufacturing sector knocked for non-implementation of ESG practices

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•BAT rallies private sector leaders to Pan-African ESG Forum Nov. 8

Private sector players have been urged to promote sustainable and responsible business practices within the manufacturing sector as their inaction to Environment, Social, and Governance (ESG) practices fosters climate change and endangers communities and lives.

This charge was given at a press briefing ahead of the maiden edition of the Pan-African Private Sector ESG Forum, scheduled for Wednesday, November 8, 2023 in Lagos, organised by the British American Tobacco (BAT) Nigeria Limited and other partners in the private sector.

The event, themed: “Is The Private Sector Accountable: A Case For Sustainable Practices,” will bring together thought leaders, industry experts, and stakeholders to discuss and deliberate on ESG sustainability challenges and opportunities as well as focus on driving climate resilience and fostering inclusive growth.

The Chief Operating Officer, Nigeria Climate Innovation Centre (NCIC), Adamu Garba, lamented that a lot of private sector organisations today are just operating carelessly with no one caring about the social and environmental responsibility and accountability of how they conduct their affairs and businesses.

He said at the end of the year, a lot of organisations just declare profits but no one really declares what their ESG indicators are nor are they accountable for them.

Garba also lamented that less than 40 per cent of Nigerians understand climate change and its information, while describing the numbers as “really poor,” adding that there is a lot of education and awareness needed around this.

He said ESG is the bedrock of sustainable financing, adding that with the right frame work and knowledge, organisations can achieve sustainable impact that will open more opportunities to tap into impact investment in Africa.

Garba said this would not only benefit the organisations but also contribute to a broader economic and social development of Africa as well as fostering a more resilient and prosperous future for all.

The Country Director, Enactus Nigeria, Michael Ajayi, said the impact and cost of inaction on sustainability of ESG is endemic and can also consume everyone.

He said the statistics are scary in Nigeria, especially the impact on communities, adding that this is part of the reason the consortium of private sector organisations are taking the lead to do something about it and reverse the trend.

Ajayi said the purpose really is for private sector players, individuals and government to hold themselves accountable, particularly those that are manufacturing.

Speaking earlier, the Director, External Affairs, BAT West and Central Africa, Odiri Erewa-Meggison, said the forum seeks to facilitate an open dialogue among industry stakeholders to assess the extent to which the private sector is embracing sustainable practices and implementing actions to safeguard the environment and support the communities in which they operate.

She said these conversations are essential because the actions of the private sector, particularly the manufacturing industries, significantly influence the trajectory towards a zero-carbon future and equitable growth.

The Managing Director of BAT Nigeria, Yarub Al-Bahrani said this forum is quite timely and relevant as it presents a pivotal opportunity for the private sector in Africa to not only address pressing ESG challenges, but to also champion sustainable practices that will lead to lasting outcomes across the continent.

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