The Zimbabwe Stock Exchange has released an ESG reporting framework to be adhered to by listed companies effective from the financial year period commencing 1 January 2024. Disclosures will include materials used, emissions rate, waste generated, water and energy consumption.
ESG disclosure helps stakeholders (like investors, creditors, employees, prospective customers, etc.) understand how a company is managing ESG risks and opportunities. Ineffective or misleading ESG disclosures may be considered greenwashing.
An ESG report is an opportunity for an organization to provide a milestone update on progress toward environmental, sustainability and corporate governance goals. Its aim is to provide an accurate account of efforts undertaken and the expected impact of those efforts from both a qualitative and quantitative perspective with ESG data. Much like an annual report or other forms of corporate disclosure, an ESG report is a communication tool that can help an organization provide information to employees, investors and regulatory authorities.
