The two-day ESG (Environmental, Social and Governance) and Sustainability Reporting Summit 2024, a dynamic and engaging event where industry leaders, compliance experts, and sustainability champions converge to explore the latest trends, practical insights and collaborative opportunities, opened, this morning at the Financial Services Commission (FSC) House in Ebène.
The event, organised by the Ministry of Financial Services and Good Governance, the Financial Services Institute and the University of Dundee, was graced by the Minister of Financial Services and Good Governance, Mr Soomilduth Bholah, the Chief Executive of the FSC, Dr Roshan Boodhoo, and captains of the industry. Internationally acclaimed Professors of University of Dundee, Professors Ian Thomson and Colin Dey, are also present to lead conversations on International Reporting Frameworks and ESG fundamentals.
Several themes are on the agenda namely: Fundamental concepts and importance of ESG; reporting frameworks and the need for high quality sustainability standards; choosing the right ESG reporting framework, applying and interpreting ESG in real-world scenarios; reflecting on high-quality ESG; sustainable investment strategies; case studies and best practices for implementing ESG initiatives.
In his keynote address, Minister Bholah highlighted that ESG considerations are essential components to decision-making adding that it is important to embed ESG standards across the financial sector. He said that Government is committed through various initiatives and actions to consolidate the position of Mauritius as a Centre for sustainable finance in the region.
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They include: Review of the National Code of Corporate Governance ensuring that ESG principles are well embedded; publication by the Bank of Mauritius of a Guide for the Issue of Sustainable Bonds in Mauritius; implementation of a comprehensive ESG framework; and launching of the Sustainable Finance Framework by the Ministry of Financial Services and Good Governance.
These measures, he emphasised, demonstrate the jurisdiction's commitment to best international practice and pursuing Government's objective of being recognised as the Sustainable Finance Gateway into Africa. This will not only strengthen our reputation as a responsible financial centre, but also unlock opportunities for sustainable investment and growth, he added.
Speaking about the sustainability movement, Minister Bholah said that there is a definite call for a new level of leadership in sustainability. He encouraged participants in the seminar to engage in peer learning to share their experiences, forge partnerships, and put forward innovative ideas that can help drive meaningful change.
For his part, Dr Roshan Boodhoo observed that the financial services landscape is witnessing significant changes adding that the sector thrives on sustainability. He pointed out that the role of the FSC is critical in this transformation while recalling the initiatives taken by the organisation towards sustainability. They are: releasing guidelines on the corporate green bonds in Mauritius; and setting up of a working group to draft a comprehensive ESG framework.
