Story by Owen Mandovha
Zimbabwe’s Government and private sector are intensifying efforts to align with global Environmental, Social and Governance (ESG) standards, as sustainability reporting becomes increasingly central to corporate accountability and long-term economic resilience.
The move is aimed at ensuring that businesses operate responsibly, balancing profitability with positive social and environmental impact.
In line with international best practice, companies are now expected to adopt robust sustainability reporting frameworks that clearly demonstrate compliance with ESG principles and their commitment to responsible business conduct.
The Institute of Chartered Accountants of Zimbabwe recently convened accounting professionals to assess progress and enhance readiness for compliance with the latest global reporting standards.
ICAZ Technical Director Mrs Nyasha Chakuma said ESG reporting is now a critical pillar of modern economic development.
“ESG or sustainability reporting remains imperative in modern economies. It helps create resilient firms that are not solely driven by profit, but also contribute meaningfully to the sustainable development of communities. In turn, this supports the creation of resilient economies,” she said.
She added that ensuring ICAZ members remain up to date with evolving standards is a key institutional priority.
The Securities and Exchange Commission of Zimbabwe has also tightened regulatory requirements, mandating all listed companies to disclose ESG compliance in their financial statements.
SECZIM Principal Officer for Supervision and Surveillance Mr George Nhepera said the requirement aligns Zimbabwe’s capital markets with international norms.
“At the Zimbabwe Stock Exchange, we enforce minimum sustainability reporting requirements in line with ESG guidelines. This ensures that our listed entities adhere to global standards of operation,” he said.
Meanwhile, the Public Accountants and Auditors Board has reaffirmed its commitment to guiding companies through the transition to modern sustainability reporting frameworks.
PAAB representative Mr Sigauke said the board is working closely with Government and professional bodies to strengthen compliance and improve reporting standards across the private sector.
“As the PAAB, we provide the roadmap for companies to align with modern sustainability reporting standards, while collaborating with key stakeholders to improve governance and accountability,” he said.
As ESG considerations continue to shape global investment and corporate governance trends, Zimbabwe’s push towards stronger sustainability reporting is expected to enhance investor confidence, improve transparency and support the development of a more resilient and inclusive economy.
