By Buertey Francis BORYOR
The African Union has been urged to combine its various developmental frameworks into one continent-wide system to help secure affordable and sustainable financing for the continent.
The call was made by Engineer Seth Mahu, Director of Renewable Energy at the Ministry of Energy and Green Transition, during the opening of the first Africa Global ESG and Sustainability Reporting Summit in Accra on Monday.
Speaking on behalf of President John Dramani Mahama, Mahu noted that although the African Union has not yet created a unified framework like the European Union’s model, the foundation has been laid through Agenda 2063.
He stressed that consolidating these frameworks would align with the continent’s standards and make it easier to access long-term funding. “Bringing these plans together would match African standards and make it easier to access long-term funding,” he said.
The summit, organised by TSL Sustainability in collaboration with several ministries including- Energy and Green Transition, Environment, Science and Technology, and Lands and Natural Resources, aims to discuss ESG reporting frameworks and strategic pathways for developing economies.
It brought together sustainability professionals, policymakers, researchers, and development partners to address critical challenges related to climate change, energy transition, and sustainable finance.
In his address, Mahu highlighted that the country is working on a national plan for ESG and climate reporting to make sustainability practices consistent across different industries.
He further noted that the government is preparing an investment plan for energy transition and a sustainable finance framework to guide investments and combat greenwashing. He added that a major support package for green transition is being developed to help areas such as health, education, and industry.
He underscored the importance of capacity development and data infrastructure investment to equip all stakeholders for effective ESG implementation. He said the country is moving forward with renewable energy, nuclear power, and making sure everyone has access to energy.
Dr. Shelter Lotsu, Founder and CEO of TSL Sustainability, in his welcome address, stressed the need for mandatory ESG reporting. He said that even though the Ghana Stock Exchange has introduced ESG guidelines, they are not mandatory, which makes it hard to draw responsible investment.
He encouraged government ministries to work together to take advantage of global sustainable investment funds.
Professor Nana Ama Browne Klutse, CEO of the Environmental Protection Authority, spoke on behalf of the late Minister for Environment, Science, Technology, and Innovation. She She outlined the ministry’s commitment to including environmental risk management in business activities and create reliable national data systems for ESG.
She also highlighted the need to fit global reporting standards to the country’s situation.
The summit aims to produce policy suggestions, training programs, and a push for required ESG reporting in the country. Participants will continue to discussions over the next two days, focusing on adapting international frameworks to local needs and finding workable ideas for sustainable development.
