ESG in the Context of Mozambique
In September 2022, the ESG Conference took place in the context of Mozambique, with the participation of Rumina Fateally, President of the SPROWT Foundation, in the roundtable discussion ‘The Role and Obligations of the Board.’
Balancing legal obligations and sustainability positioning options, the ESG legal framework is a dynamic and rapidly evolving puzzle. Combining the pillars of “E,” “S,” and “G” is a demanding and rigorous exercise, upon which a company’s ability to maintain competitiveness and gain market positions depends.
Research indicates that companies paying attention to environmental, social, and governance concerns do not encounter obstacles in creating value; in fact, the opposite effect is observed.
Associated with this newfound awareness, companies must have a clear sense of their purpose and understand that the incorporation of ESG is a holistic organizational process.
The British Academy, in its report ‘Principles for Purposeful Business,’ states: ‘THE PURPOSE OF BUSINESS IS TO SOLVE PEOPLE’S AND THE PLANET’S PROBLEMS IN A PROFITABLE WAY AND NOT TO PROFIT FROM CAUSING PROBLEMS.’
Changing mindsets is an organizational process associated with organizational culture. Future economic growth largely depends on how quickly and effectively we respond to urgent environmental and social issues in society.
A company will not be sustainable if, above all, it does not have sustainable leadership.
Klaus Schwab, founder and executive chairman of the World Economic Forum, said: ‘Leaders are increasingly recognizing that for a company to succeed in the long term, it must provide profitable solutions that positively impact all stakeholders.’
The conference provided analysis and discussion on the general framework of ESG/Sustainability and the growing demands placed on companies in the context of Mozambique