The Institute of Directors–Ghana (IoD-Gh) and the International Finance Corporation (IFC) of the World Bank Group have begun discussions to integrate environment, social and governance (ESG) practices into the training modules of the institute.
The ESG programme, which is intended to assist businesses and institutions to strengthen their environmental, social and governance practices with tools to better address and assess risks and improve their sustainability and long-term performance according to the IoD, will take organisations to the next level in ensuring sustainability.
The two institutions are also exploring avenues to train women board directors and empower more women to take up leadership positions in their organisations.
A delegation from the IFC, led by Moez Miaoui, the Environmental, Social and Governance Advisory Lead – North and West Africa, at a meeting with the leadership of the IoD in Accra last week, confirmed to the B&FT that the partnership will benefit both organisations.
At the meeting, it was agreed that a working group would be constituted to develop a work plan and concept note to facilitate the agreed areas of cooperation.
Mr. Miaoui said it was important for directors and managers to learn about climate risk and sustainability and know how they could integrate that into the plans and activities of their respective organisations.
“It is all about sustainability, and if we do not approach environment, social and climate risks, and how governance would receive the whole concept, then we are missing something,” he said.
Mr. Miaoui said by training more women directors, the IFC was confident that existing gender disparities in management positions would be bridged.
Reverend (Mrs.) Angela Carmen Appiah, President and Board Chair – IoD-Ghana, said the institute was excited about the IFC’s proposal and would work closely with the team to develop new training modules or review its existing ones to suit the proposal.
“As a responsible organisation, the IoD wants to get itself conversant with the ESG as much as possible, and how members can leverage this to operate and manage sustainable entities. We are excited for this partnership and know the IFC would enhance our capacity in this new area,” she said.
