Story by Stanley James, Business Editor
The Private sector is embracing the concept of Environmental, Social and Governance (ESG) to attract investors, improve financial performance and remain competitive.
This was revealed during the Northern Region Annual Business Awards held in Harare over the weekend.
The ESG principles are related to how firms are managing the environment they operate, implementing sustainable employee policies, adaption corporate social respinsibility projects and transparency.
Investors are focusing on investing within their communities, welfare of employees and transparency.
Zimbabwe Builders and Contractors Association President, Dr. Tinashe Manzungu said, The scope of business is there and what is needed is that appetite to boost investment inflows by endorsing the agenda which I see as a noble idea that can transform business operations and facilitate accountability.”
“Governments globally are further directing responsible governance and environmental practices that facilitate sustainable development. So if we lack in that aspect it will not augur well for our future generations, therefore we need to embrace the system, businesswoman, Dr. Afra Nhanhanga said.
Mr. Tanaka Muganyi, a commercial legal expert said, The outlook of our economy is what drives us in coming with such principles. Going forward, we need to focus on identifying the impact of the ESG in our operations and chart the way forward.”
Captains of Industry and Commerce are optimistic ESG principles will boost investment inflows.
