{"id":77978,"date":"2022-12-20T15:32:10","date_gmt":"2022-12-20T15:32:10","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/kittony-urges-firms-to-create-esg-plans-2"},"modified":"2022-12-20T15:32:10","modified_gmt":"2022-12-20T15:32:10","slug":"kittony-urges-firms-to-create-esg-plans-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kittony-urges-firms-to-create-esg-plans-2","title":{"rendered":"Kittony urges firms to create ESG plans"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Listed firms with solid Environmental, Social and Governance programmes (ESG) are attracting more interest from investors. This is according to Nairobi Securities Exchange board chairman Kiprono Kittony who spoke at the release of Kakuzi ESG report.<\/p>\n

He said companies that have incorporated these new standards in their operations have shown improvements in operations on individual ESG components. \u201cThere are three key factors driving the adoption of sustainability and I believe that companies should place special focus on these factors to be able to comprehend why sustainability is crucial\u201d said Kittony.<\/p>\n

Under ESG, companies develop and deploy their sustainability initiatives, including identifying, assessing and managing risks that emanate from social and environmental issues affecting their entire value and supply chains.<\/p>\n

Kittony said there has been renewed investor demand for firms to reveal the impact of their businesses on the environment. \u201cOver 85 percent of investors consider ESG factors in their investment decisions. Embedding sustainability is essential for any company to remain relevant,\u201d he said Kittony.<\/p>\n

He said traditionally, firms have limited themselves to making financial disclosures in their annual reports, but investors are increasingly keen on learning how the companies are impacting the environment and the wider society, corporate governance practices, and fraud mitigation.<\/p>\n

“I would like to advice business leaders that sustainability is not only strongly correlated with good financial performance but also plays a significant role in creating it” added Kittony.<\/p>\n

Safaricom, East African Breweries, Nation Media Group, Bamburi Cement, KCB Bank Group, Kakuzi, and Standard Chartered are the firms that have issued an ESG report to the Nairobi Securities Exchange (NSE).<\/p>\n

The latest firm to release its third ESG report is Listed agri-business firm Kakuzi Plc. Kakuzi Managing Director Chris Flowers said the firm consistently tracks and measures its ESG impacts.<\/p>\n

\u201cAs part of enumerating the impacts of the company, supply chain sustainability was pivoted to promote human rights, fair labor practices, environmental progress, and corporate governance,\u201d said Flowers<\/p>\n

According to annual Absa Financial Markets Index, the increased disclosures have improved market transparency, tax, and regulatory environments in capital markets and boosted Kenya\u2019s ranking to eighth out of 26 African markets.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Listed firms with solid Environmental, Social and Governance programmes (ESG) are attracting more interest from investors. This is according to Nairobi Securities Exchange board chairman Kiprono Kittony who spoke at the release of Kakuzi ESG report. He said companies that have incorporated these new standards in their operations have shown improvements in […]<\/p>\n","protected":false},"author":84,"featured_media":77977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-77978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKittony urges firms to create ESG plans - kenya<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kittony-urges-firms-to-create-esg-plans-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kittony urges firms to create ESG plans\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Kenya. Listed firms with solid Environmental, Social and Governance programmes (ESG) are attracting more interest from investors. This is according to Nairobi Securities Exchange board chairman Kiprono Kittony who spoke at the release of Kakuzi ESG report. 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