Non-profit, private and public sector professionals have been advised to adopt Environmental, Social and Governance (ESG) strategies to advance sustainable development and drive impact on the continent of Africa.

This submission was made by sustainability experts at the 7th Breakfast Dialogue organised by the Aspire Coronation Trust Foundation, a grantmaking non-profit organsiation established in partnership with Access Bank, in Lagos recently. The annual event which focused on a growing international conversation on ESG practices brought together policymakers, and industry experts to explore the topic; Advancing Sustainable Development in Africa: The role of Environmental, Social, and Governance Strategies in Creating impact.

In her keynote address, Mrs. Oyeyimika Adeboye, Cluster Director, Mondelez International, West Africa, lamented the huge sustainability gap existing within African businesses due to the absence of ESG policies within organisations and emphasised the need to adopt ESG goals as a fundamental organisational principle and not just a strategy to be adopted.

According to Mrs. Adeboye, “Companies are increasingly adopting ESG not just as a strategy, but as a fundamental principle. Environmental, Social, and Governance considerations are integral to achieving lasting success and making a positive impact. African organisations need to ensure that they are doing the right things as it concerns ESG strategies.”

Highlights of the event include a stimulating Panel Session and Masterclasses where seasoned experts delved into specific aspects of ESG strategies and their impact on the private, public and social sector. The panel session was moderated by Omobolanle Victor -Laniyan, Head of Group Sustainability at Access Holdings Plc and had on it Mudrakat Alabi -Macfroy, Sustainability, Social Impact and ESG Professional (LAWMA); Tiwalade Adeniyi PhD, Sustainability Expert; Professor Kenneth Amaeshi, Professor of Sustainable Finance, European University Institute, Italy; Dr. Eugene Itua, CEO, Natural Eco Capital and Khethiwe Nkuna, Responsible Business Executive at Accenture, Johannesburg, South Africa.

The Masterclasses delved into conversations around Demystifying ESG for Nonprofit and Best Practices for Nonprofits and Social Enterprises in ESG Integration. The sessions were facilitated by Marilyn Obaisa-Osula, Associate Director, ESG and Sustainable Services, KPMG and Dr. Igazeuma Okorogba, Group Head of Sustainable at Dangote Cement Nigeria and Pan Africa.

A major highlight of the event was the award ceremony for the winners of the Changemakers Innovation Challenge, with Solar Sister Nigeria emerging winner, while Goal 3 from Rwanda, and Qubix Robotics from Malawi emerging first and second runner-up respectively.

In her speech, the CEO of Aspire Coronation Trust Foundation, Osayi Alile, noted:

“Every year, we are graced with diverse groups of experts from various sectors and socio-economic backgrounds and this year is no different. Our goal at this year’s Breakfast Dialogue is to help remove boundaries and knowledge limitations and gaps that may be hindering African organisations from significantly contributing to the achievement of sustainable development through the effective implementation of ESG practices, thereby reducing the challenges faced in Africa such as poor health systems, climate change, poverty, food security, youth, and entrepreneurship development. The world is at risk to a great number of challenges if organisations in the public, private and social sectors do not quickly embrace ESG principles and we believe this conversation is the right step in the right direction.”

While describing Aspire Coronation Trust Foundation’s impact over the last six years, she said:

“ACT Foundation has become an undeniable asset to the entire continent. We have achieved this by partnering strategically with over 97 non-profit and social enterprises whose sole purpose is to implement projects across Africa, private and public sector organisations. We remain committed to empowering and securing the future of Africa by furthering sustainable impact, providing enabling and supporting resources to non-profit organisations in the region to strengthen their capacity, thereby catalysing socio-economic development.”