THE ENVIRONMENTAL, SOCIAL, AND GOVERNANCE: AN AFRICAN PRIVATE SECTOR STUDY.
“Invitation to the African Private sector to participate in the ESG study.”
27th March 2023- 31st May 2023.
The African Union is inviting the African Private Sector to participate in an Africa-wide Environmental, Social, and Governance (ESG) study.
The African Union Commission is conducting an official study on Environmental, Social, and Governance (ESG). This study seeks to understand the ESG of African companies, exploring related activities, challenges, and attitudes. Insights from this research will enable the African Union Commission to develop a strategy to support African companies to improve their ESG practices, as well as increase access to finance and secure market access.
African companies with an annual turnover more than $500,000 are invited to participate in the study by registering for an interview. A summary of these results will be shared with the companies to allow them to better align and improve their ESG practices and benchmark their company against others.
CLICK HERE TO REGISTER: https://forms.gle/RfpnY3iokhEe8sfs8
Note: The African Union Commission has contracted the Imani Development Group to collect the data and facilitate the study.
BACKGROUND INFORMATION
Environmental, Social and Governance (ESG) has increasingly become an important factor in determining the competitiveness of businesses as they serve the society in which they operate with a critical focus on the sustainability of their activities. Africa is not an exception to this evolving trend. However, ESG requirements that are not appropriate for the African context may also serve as barriers to access to finance and market.
In this context, the African Union Commission led by the Economic Development, Tourism, Trade, Industry, Mining (ETTIM), is conducting a study of ESG in the African Private Sector, with a view to take stock of the current status; identify the challenges and issues; and devise key strategic recommendations to enhance the practice of ESG among the African Private Sector. The study involves interviewing business chambers and large business in eight sectors across the five regions of the continent. These sectors are agriculture, construction, energy, finance, manufacturing, mining, transportation and tourism.
The participation of the private sector is critical for the success of this assignment – and support from the business chambers and associations of the continent crucial for successful engagement with the African private sector.
Interesting results have emerged on ESG and debates on whether ESG is an opportunity to increase competitiveness and access market and finance or is it another Non-Tariff Barrier imposed by developed countries.
OBJECTIVES OF THE STUDY.
The objective of the study is to engage the African Private sector in the discussion about what ESG means for the business on the continent. This will be done, firstly, by engaging business chambers and associations from across the continent in discussion surrounding the emerging findings from the study in workshops to be convened by the African Union Commission. Secondly, the Commission will present the chambers and associations with the material to ensure that their members’ voices are reflected as an outcome of the study.
For more information, kindly contact
Marilyn Omari | ETTIM Department | African Union Commission | omariY@africa-union.org | +251 903 416 259 | Addis Ababa, Ethiopia.
