The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema gives an insight into the 2016 Sustainability Report which highlights the importance of sustainable business practices in supporting economic growth
The Nigerian Stock Exchange (NSE) has stated that its 2016 Sustainability Report entitled “Ushering in a new era of sustainability in the Nigerian market place” is a key strategy for economic growth.
The report demonstrates how the Exchange showcases the importance of sustainable business practices in delivering value and supporting economic growth.
Commenting on the report, the Chief Executive Officer of NSE, Mr Oscar Onyema said “as we strive to create durable wealth for our stakeholders, the NSE continues to highlight the importance of sustainable business practices in delivering value and supporting economic growth.”
He explained that in 2015 the NSE continued the holistic implementation and integration of its Corporate Sustainability Strategy into its day-to-day operations, in order to effectively manage risks and business development opportunities. “While we are pleased to report that we have held ourselves accountable to the highest standards, we are also intensifying our advocacy efforts to support the integration of the Environmental, Social and Governance (ESG) imperatives in the Nigerian capital market,” he said.
Onyema added that the Exchange received four awards in 2015 in recognition of its game changing initiatives in promoting ESG and transparency.
The report, according to him, is in accordance with the Global Reporting Initiative G4 Guidelines, adding that it aligns with the Exchange’s Corporate Social Responsibility framework and covers the four key impact areas it has devoted attention and resources.
He also said that the NSE promotes market-based approach to ESG imperatives among all stakeholders. “Our major achievements include: assessed and rated all companies on the premium board using the Corporate Governance Rating System, executed advanced capital market awareness programme in over 50 Nigerian tertiary institutions, the NSE makes positive contributions to the communities where we live and work,” he said.
Onyema added that the NSE implemented 172 financial literacy programmes across the nation, reaching 15,000 people.