Makers and Partners (MAP), a chartered accountancy firm, has highlighted the need for stakeholders particularly businesses to work towards reducing their carbon emissions for sustainable growth and climate risk mitigation.
Mr Wildred Neneh Addico, Partner at MAP noted that Green House Gasses (GHG) emissions and their impact on our climate have become a pressing global concern, prompting nations to adopt sustainable practices and innovative solutions to mitigate climate risks such as the warming of the earth and its associated consequences. like severe draught, rising of sea water levels and destructive flooding.
He mentioned that implementing Environmental, Social and Governance (ESG) practices would ensure that individuals, organizations and communities carry out their operations being mindful of the negative impact of their activities on the environment.
Mr Addico made these remarks during a professional networking event for Institute of Chartered Accountant, Ghana (ICAG) Chartered Professional Diploma Program, an initiative that aims at deepening the knowledge and competencies of members in specialized areas.
The 5-week intensive training programme touched on courses including; ESG, Advance Business Analytics, IT Audit, IFRS, and IPSAS.
Mr Addico, a participant of the ESG training program, stated that MAP is building capacity as a Firm to provide consultancy services in ESG and Carbon Trading. “We have signed a Memorandum of Understanding (MoU) with Ecoveda Climate LLP, an Environmental Management System and Carbon Developers and Trading company based in India, to help MAP build capacity to take up large projects and consultancy in ESG and Carbon Trading in Ghana and Africa”.
He revealed that among its objectives was also to support businesses in engaging their key stakeholders, including investors, customers, employees, communities, and regulators, on ESG matters.
Mr Addico said MAP is poised to assist businesses to develop their ESG strategy, integrate same into their operations, report and make appropriate disclosures which meets international standards like Global Reporting Initiatives (GRI), UN Global Compact (UNGC) Principles and Carbon Disclosure Project (CDP) to identify, assess, and manage their ESG related risks that could impact their reputation, financial performance, and operating license.
He further touched on ESG reporting and disclosures, saying, “there are standards that guide companies to be mindful of the environment as they undertake their operations.
He explained that the Ghana Stock Exchange have issued ESG guidelines for listed companies to comply with, as such, once these companies embark on the journey to comply, they need to report and make disclosure, and this where MAP is building capacity to assist with ESG and Carbon practices and reporting to meet evolving regulatory requirements and investor expectations.
Touching on the ICAG Professional Diploma Program, Mr Kwasi Agyemang, Chief Executive Officer (CEO) of ICAG appealed to accountants to embrace continuous professional training to enable them stay abreast with new development trends in the accountancy profession.
He added that there were new standards, as such, professionals must be equipped with the requisite knowledge to be able to understand the contents of these standards, and also be useful in its application.
He also urged accountants to exhibit integrity and professionalism to ensure investors do not lose confidence in the economy.
Mr Agyemang said these professionals were considered to be gatekeepers of public funds therefore standards of recording transactions, keeping transactions, and reporting transactions must be encouraged to promote transparency.
