Embracing Sustainability Disclosures: A Guide for Companies in Ghana
In today's rapidly changing world, businesses face increasing pressure to address environmental, social and governance (ESG) challenges. To address these challenges, sustainability reporting has been embraced as a pivotal mechanism for fostering transformation. On the global front, various initiatives have been undertaken with countries, regulatory bodies and stock exchanges introducing regulations and mandates concerning sustainability reporting, that require companies to disclose non-financial information, including environmental and social factors.
However, to meet the demand for greater transparency and accountability, a new era of sustainability disclosure has emerged as a transformative force in driving positive change within the business landscape. As part of global initiatives, the International Accounting Standards Board (IASB) has released two IFRS Standards, namely IFRS S1 General Requirements and IFRS S2 Climate-related Disclosures .
As Ghana strives for sustainable development and economic growth, the emergence and importance of sustainability disclosures has gained significant traction with various initiatives underway by regulatory bodies and stakeholders to incorporate sustainability reporting in their business activities.
To educate and foster the adoption of sustainability reporting, this publication seeks to provide insights, guidance, and thought-provoking perspectives on the new frontiers of sustainability disclosures by :
- Providing a comprehensive understanding of Sustainability Disclosures
- Inspiring Action and Foster transformation
Embracing this transformative tool, businesses in Ghana can lead the way towards a prosperous future, contributing to the country's environmental preservation, social progress, and economic resilience.
As Ghana embarks on this journey of exploration and discovery, we invite all stakeholders to unlock the potential of new sustainability reporting. By providing insight, shedding light on local initiatives and achievements, best practices and inspiring stakeholders. It is our aim that this paper ignites a conscious effort to embrace sustainability reporting in Ghana.