EY hosts engaging ESG/Sustainability dialogue

By Konrad Kodjo DJAISI

EY Ghana, global leaders in Assurance, Tax, Business consulting and Strategy, and Transaction (SaT) services, successfully hosted an engaging ESG/Sustainability event last week Thursday, February 15.

The gathering convened leaders of international and local corporations, representatives from government, Heads of Sustainability, EY Leadership Team Members and employees and respected guests from a cross-section of industries, fostering discussions on Environmental, Social and Governance (ESG) issues.

Mr. Emmanuel Adekahlor, EY Country Managing Partner, kicked off proceedings with his welcome address which captured the purpose of the event to discuss the latest topical global and local issues for the year, with a focus on Ghana’s transition, the carbon market and decarbonisation in key critical sectors.

The country Managing Partner (CMP) of EY Ghana emphasized that Sustainability is no longer a buzzword but now a potent force in the business world where the reporting landscape is constantly evolving.

Mr. Adekalor said EY’s discourse on sustainability borders on the interaction between science and business and specifically with the increasing global awareness about climate change and its impact; there is consequently concerted effort to ensure collective action towards the climate.

He noted that since businesses play a critical role in society as essential drivers of economic growth and stability. They play an important role in providing jobs, generating wealth and funding public services through the taxes they pay and promoting trade and commerce.

These, he noted, cannot be achieved with a cost to our environment. Businesses utilize energy in their operations; hence businesses’ supply chain can be tainted if they do not source their goods and materials from sustainable sources.

He also mentioned the issue of managing industrial waste as examples of how business activity can negatively affect the environment.

Seth Mahu, Director, Renewable Energy Directorate, Ministry of Energy, threw light on government initiatives and encouraged the business community to take advantage of the enhanced Energy business environment to invest in green production of goods and services for accelerated and sustainable growth.

Mr. Mahu underlined the Ministry of Energy’s commitment to addressing climate change and achieving a low carbon economy. He observed that unsustainable consumption has been the major contributor to climate change. He mentioned weather variation, floods, rising sea levels of outcomes of climate change which has unleashed untold damage to our weak infrastructure, loss of lives and displacement of populations as a few examples.

To address climate change, Mahu indicated a multifaceted approach and to reduce energy consumption as a major contributor of emissions. Reduce over-reliance on fossil fuels, and increase the use of clean energy sources such as renewable energy, nuclear energy etc.

He also mentioned the transition to electric vehicles in the public transportation system have increasingly become necessary to de-carbonise our environment. Incentivizing businesses to invest in sustainable sources of production is crucial, he added.

Reforms in energy sector in developing a national energy framework is currently underway with wide stakeholder consultation, Mr. Mahu stated.

He said it is expected that over 1.2 million jobs will be created the transition to clean energy solutions. Mahu said the Energy Framework sets the tone towards a net zero emissions.

The EY Ghana Climate Change and Sustainability Services (CCaSS) helps governments and businesses to create long-term value by understanding and evaluating the broader ESG value impacts and outcomes, identifying the risks and opportunities in ESG compliance and integration.

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