The Nigeria-South Africa Chamber of Commerce hosted its November Breakfast Meeting on Thursday, November 28th, sponsored by Rand Merchant Bank (RMB), at Eko Hotel and Suites.
The event brought together business leaders, policymakers, and industry experts to discuss the critical topic of Sustainable Finance & ESG: Building a Responsible Financial Future.
Nigel Beck, Head of Sustainable Finance and ESG Advisory at RMB, from South Africa via Zoom delivered a comprehensive presentation highlighting the growing importance of sustainable finance and Environmental, Social, and Governance (ESG) considerations in the financial sector.
Beck emphasized that the global sustainable finance market is significant, with $1.8 trillion issued in sustainable finance instruments in 2021. He noted that Africa is poised to benefit from this trend, with the continent’s natural resources and ecosystem services accounting for 60% of its GDP.
The presentation also highlighted the increasing pressure on companies to adopt sustainable practices, driven by growing consumer awareness, regulatory requirements, and investor demand. Beck cited examples of companies that have successfully integrated ESG considerations into their business strategies, resulting in improved financial performance and reduced risk.
Beck also discussed the role of blended finance in supporting sustainable development, particularly in Africa. He explained that blended finance structures can help mobilize capital from various sources, including development finance institutions, private sector investors, and philanthropic organizations, to support projects that may not be viable for traditional financing.
The presentation concluded with a call to action for Nigerian businesses to use the opportunity presented by sustainable finance and ESG. Beck to emphasize the need for companies to develop sustainable business models, invest in ESG reporting and disclosure, and engage with stakeholders to build trust and credibility.
The Nigeria-South Africa Chamber of Commerce November Breakfast Meeting provided a valuable platform for business leaders and policymakers to engage in discussions on sustainable finance and ESG; underscoring the importance of adopting responsible business practices that balance financial returns with social and environmental considerations.
The Nigeria-South Africa Chamber of Commerce is a bilateral chamber that promotes trade, investment, and economic cooperation between Nigeria and South Africa. The chamber provides a platform for businesses to network, share knowledge, and explore opportunities for growth and development.
Rand Merchant Bank (RMB) is a leading African corporate and investment bank, providing a comprehensive range of financial services to clients across the continent. RMB is committed to sustainable finance and ESG and has developed expertise in advising clients on sustainable business practices and ESG reporting.
