The Ghana Stock Exchange (GSE) has unveiled a guidance manual on environmental, social and governance disclosures by companies that listed on the local bourse.
The manual will guide listed companies and other capital market stakeholders in collecting, analyzing and publicly disclosing ESG information that meet international best practices in sustainability reporting.
It will also direct the capital market actors on how to progressively integrate ESG strategies in their operations using GRI reporting standards.
The development of the manual was supported by the Global Reporting Initiative (GRI), Swiss State Secretariat for Economic Affairs (SECO) and African Securities Exchanges Association (ASEA)
Incoming managing director of the exchange, Ms. Abena Amoah, speaking at the launch event, indicated that the unveiling of the manual affirms the market’s concerns about the impact of the operations of the capital market actors on the environment.
“The GSE is thankful to our partners for their support in producing this ESG guide that helps Ghanaian companies be more accountable for the impact of their businesses,” she added.
Deputy Director-General Legal at the Securities and Exchange Commission (SEC), Deborah Agyemfra, said implementing the guidelines will be helpful in achieving the long-term targets of the capital market.
She said transparency in the operations of listed companies on the domestic capital market will add to the solid foundation that has been laid already to drive the growth, expansion and sustainability of the capital market.
Director of GRI Africa, Douglas Kativu, said the ESG manual was in line with global best practices where stock markets expand to include policies and instruments that are designed to promote responsible business conduct and sustainable actions.