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<\/p>\n\nRev. Daniel Ogbarmey Tetteh \u2014 Director General of SEC <\/p>\n<\/div>\n
The Ghana Stock Exchange (GSE) will from 2023 incorporate Environmental, Social, and Governance (ESG) guidelines into its listing rules and requirements, outgoing Managing Dircector, Ekow Afedzie has said.<\/h2>\n
He said the exchange was in the process of reviewing its listing requirements and one of the things being considered was the incorporation of ESG guidelines into the rules.<\/p>\n
Speaking at the launch of the GSE\u2019s ESG Disclosures Guidance Manual, he said the review was being done in collaboration with all stakeholders.<\/p>\n
He said the ESG Disclosures Guidance Manual would guide companies when it comes to reporting along the ESG guidelines.<\/p>\n
\u201cAnd the ESG is about environmental, social and other issues associated. All we are saying is that, once the regulator approves this guidelines, we do some training then after that we introduce this requirement into our listing obligations for listed companies\u201d.<\/p>\n
\u201cIn other words, listed companies will now have to report some other things than financials. So next year, we make sure that as we review our listing rules we include some of these requirements,\u201d he stated.<\/p>\n
Regulatory requirement<\/strong><\/p>\n The incoming Managing Director of the GSE, Abena Amoah, for her part, said while the launch of the manual sees the GSE meet a number of regulatory requirements, it also comes with a lot of benefits to its operations and that of listed firms.<\/p>\n \u201cIt is well-known fact that businesses across the globe have moved beyond solely focusing on financial metrics in performance evaluation, and are now focusing on both the positive and negative impacts of their operations on the environment.<\/p>\n \u201cThe GSE is thankful to our partners for their support in producing this ESG guide that helps Ghanaian companies be more accountable for the impact of their businesses,\u201d she stated.<\/p>\n Guidelines are critical<\/strong><\/p>\n Deputy Director-General Legal at the Securities and Exchange Commission (SEC), Deborah Agyemfra, said implementing the guidelines was critical in the Commission\u2019s market expansion goals as outlined in the 10-year Capital Market Master Plan.<\/p>\n She said the launch of the guidelines would lead to enhanced transparency on the market.<\/p>\n \u201cFor us as regulators, we want everything to be transparent and fair; and once there is a guideline it makes our work easier, and will consolidate the strong foundation that has been laid,\u201d she stated.<\/p>\n Global practices<\/strong><\/p>\n Also speaking at the launch, the Director of GRI Africa, Douglas Kativu, said the GSE\u2019s initiative was consistent with global best practices \u2013 which have seen the role of stock markets expand to include policies and instruments that are designed to promote responsible business conduct and sustainable practices.<\/p>\n He said the move would be crucial for the GSE\u2019s credibility and efficiency.<\/p>\n \u201cWithout transparency, there is no trust; and without trust, markets will not function efficiently and institutions will lose their credibility,\u201d he said.<\/p>\n<\/div>\n