67% of Nigerian Capital Market is ESG-Compliant
A report launched by Norrenberger Financial Group in Abuja indicates that 67% of the Nigerian capital market is controlled by companies compliant with Environmental, Social, and Governance (ESG) standards. Mr. Toni Edeh, Group Managing Director of Norrenberger, highlighted the critical role of sustainability in Nigeria's economic growth and development.
The report, titled the Nigerian Corporate Sustainability Report (NCSR), is the first of its kind in the country and aims to provide credible, independent analysis of ESG compliance. It found that ESG-compliant companies outperform their peers by 28-30%.
The report also suggests that the remaining 33% of companies will need to become ESG compliant by 2028 to meet regulatory deadlines. Dr. Emomotimi Agama, Director General of the Nigerian Securities and Exchange Commission, noted that the NCSR contributes directly to building credibility in the Nigerian capital market.
Ibrahim Shelleng, Senior Special Assistant to the President on Climate Finance, emphasized Nigeria's commitment to reducing emissions in line with the Paris Agreement.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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