Photo: Promoting Sustainability and Investment:
RL: Meka Olowola, Executive Director, CSR-in-Action; Otunba Adeniyi Adebayo, Honourable Minister of Industry, Trade & Investment; Bekeme Masade, Chief Executive, CSR-in-Action and Otunba Babatunde Alatise, Chairman, Mining & Solid Minerals Group (Lagos), at the launch of the 2020 Corporate Sustainable Investor Report (CSIR) released by CSR-in-Action in Abuja recently
The Honourable Minister for Industry, Trade & Investment, Otunba Adeniyi Adebayo, has unveiled the 2020 Corporate Sustainable Investor Report (CSIR): Nigeria, a landmark research document that analyses the sustainability progress of companies operating in Nigeria developed by a foremost sustainability consulting and advocacy outfit in Africa, CSR-in-Action.
Endorsed by the Federal Ministry of Industry, Trade & Investment, and supported by Global Rights and the Open Society Foundation, this independent score card provides critical insights into the sustainability approach of Nigerian companies in line with Environmental, Social and Governance (ESG) factors.
The CSIR is modelled after international reports on sustainable investment and is a valuable source of information for anybody seeking to do business in the West African region, especially in Nigeria. It is a useful resource for investors, particularly as the Nigerian government seeks to ramp up inflow of Foreign Direct Investments (FDI) into the country.
According to the Honourable Minister for Industry, Trade & Investment, Otunba Adeniyi Adebayo, Nigeria generated $2.6 billion in Foreign Direct Investment (FDI) last year.
“I am optimistic that this report will be beneficial in providing key investors with additional information to make informed decisions on investment opportunities in the country,” the Honourable Minister Adebayo said, while affirming that “the report has been developed in line with leading practices, effectively documenting corporate strategies being executed by local companies in their quest for sustainability.”
Now in its 4th edition, the 2020 CSIR features and rates 210 organisations across seven sectors of the Nigerian economy. Contributors to the report include Tony Ojukwu Esq, Executive Director, Nigerian Human Rights Commission (NHRC), Toyin Sanni, Founder/CEO, Emerging Africa Capital Group, Chris Uwaje, Chair, Mobile Software Solutions Limited, and Dr. Herbert Wigwe, Group CEO, Access Bank Plc. The full document can be ordered online via www.csr-in-action.org/csir.
“Our pragmatic selection process and independent approach to conducting this research enabled us to be as inclusive as possible in order to have a comprehensive collection of companies represented. Moreover, the funding provided by The Open Society Foundation through Global Rights, has enabled us to compile an integrous report without inducement from any of the parties involved,” said Bekeme Masade-Olowola, Chief Executive of CSR-in-Action.
“Companies ranked low in the report should not see it as an indictment, but as an opportunity to improve their operations in every area, particularly transparency and human rights,” Masade-Olowola added.
The first of its kind in the country, the information in the CSIR has been methodically grouped under six key performance indices, namely: Human Rights and Decent Labour, Innovation, Ethical Economics, Stakeholder Inclusion, Environmental Sustainability and Sustainability Management.
It is a tool of reference for government, regulators, the academia, media and investors concerned with sustainable business practices in Nigeria, while providing a platform for corporate organisations in Nigeria to project themselves as sustainable corporate brands.