Dangote Cement Plc (DCP), the largest listed company on the nation’s bourse, on Thursday unveiled the 2018 Dangote Cement Sustainability Report, outlining its sustainability initiatives.
News Agency of Nigeria (NAN) reports that the Sustainability Report was unveiled at the maiden edition of ‘Facts Behind the Sustainability Report’ (FBSR) at the Nigerian Stock Exchange (NSE) in Lagos.
FBSR is an interactive forum created by the exchange to further promote Environmental, Social and Governance (ESG) performance and reporting among listed companies in Nigeria, in line with its newly introduced NSE Sustainability Disclosures Guidelines.
Speaking at the event, Mr Joseph Makoju, DCP Group Managing Director said that the company aimed to make the culture of sustainability a business imperative through its seven-Pillar approach tagged“The Dangote Way”. Makoju said that the seven pillars were institutional, cultural, operational, environmental, economic, social and financial.
“DCP is also committed to aligning its operations with the group-wide sustainability vision, driven by its seven Sustainability Pillars, through extensive engagements with internal and external stakeholders,” he said. Makoju noted that 2018 DCP sustainability report was structured according to these pillars and covered the financial and non-financial performance in four countries, namely Nigeria, Ethiopia, Senegal and South Africa.
He said the company would ensure that every aspect of its business is run in line with global sustainability principles; thereby embedding sustainability – beyond issues of risk management and compliance – in its day-to-day business operations. According to him, the organisation is enhancing its positive impact on the economy, environment and society through an integrated approach that mainstreams sustainability across the entire business.
“We have identified and are leveraging sustainability to drive regulatory compliance, proactive risk management and building trust and goodwill in the countries, markets and communities where we operate,” Makoju said. Earlier, Mr Oscar Onyema, NSE Chief Executive Officer, said that better ESG reporting was key to strengthening capital markets and achieving a sustainable global economy.
“The exchange is strategically positioned to influence the adoption of globally recognised sustainability standards by Nigerian businesses. “We will continue to highlight the importance of sustainable business practices in delivering value to our listed companies and investing public, to support economic growth,” Onyema said. He said that even NSE was happy to launch FBSR to facilitate more meaningful engagement between investors and listed companies on ESG risks and opportunities.
Onyema said the step taken by DCP would encourage other listed companies, especially those on the Premium Board, to come for their FBSR at the Exchange. “This will provide them the platform to showcase their efforts in sustainability and corporate governance as well as address investors’ requirements on ESG issues,” Onyema said.
He said that the exchange would continue to highlight the importance of sustainable business practices in delivering value to its listed companies, the investing public and to support African economic growth. (NAN)