Nigeria: Rubicola Partners Ngx, Acca On Sustainability, Climate Risk Disclosures

17 June 2024
Daily Trust (Abuja)
By Yvonne Igweozuoha

In a move towards enhancing corporate transparency and sustainability in Nigeria, Rubicola Consulting has teamed up with NGX Regulation Limited and the Association of Chartered Certified Accountants (ACCA) to conduct an intensive workshop on Sustainability, Climate Risk Disclosures and reporting.

This initiative aligns with Nigeria's rapid adoption of the IFRS S1 and S2 Standards.

Scheduled for June 25, 2024, at Four Points by Sharaton, Victoria Island, the full-day event is tailored for Chief Executives (CEOs), Chief Finance Officers (CFOs), Chief Sustainability Officers (CSOs), Chief Risk Officers (CROs), directors, and other senior business leaders.

On March 22, 2024, the Financial Reporting Council (FRC) unveiled its comprehensive Roadmap Report for transitioning to these new standards, emphasising the importance of providing investors with relevant non-financial information related to social, environmental, and governance issues. This initiative aims to complement traditional financial performance metrics and bolster investor confidence.

Nigeria's swift adoption of the IFRS S1 and S2 Standards, effective from January 1, 2024, positions it among the first countries to support these global benchmarks. This move is part of the Tinubu administration's broader strategy to attract foreign direct investment and foster a robust economic environment.

Prominent speakers at the event include Olufemi Shobanjo, Chief Executive Officer of NGX Regulation Ltd; Titi Oshodi, Special Advisor on Climate Change and Circular Economy to the Governor of Lagos State; and Tom Isibor, Market Head of ACCA Nigeria.

Commenting on the upcoming workshop, Joseph Owolabi, founder of Rubicola Consulting and event organiser, said: "FRC has emphasised the importance of capacity building as part of the 'Readiness Test Assessment' and 'Support for Adopters' in the Adoption Readiness Working Group (ARWG) Roadmap Report.

"To support the readiness of Nigerian companies, Rubicola is partnering with the Nigerian Exchange (NGX-Regulation) and Association of Chartered Certified Accountants (ACCA) to organise a full-day intensive workshop for senior business leaders."

Read the original article on Daily Trust.

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