The Ghana Stock Exchange (GSE), as part of efforts to support a sustainable future, has stated that it is poised to roll out more measures to ensure listed companies adher to the guidance manual for disclosures on environmental, social and governance ESG reporting.
This, the exchange maintains will help Ghanaian companies to be more accountable for the impact of their operations on the environment.
Speaking at the Bourse’s ‘Ring The Bell For Gender Equality’ Programme on the International Women’s Day, Wednesday, March 8, 2023, Managing Director of GSE, Ms. Abena Amoah assured of implementing measures to correct gender balances in company’s listed on the local bourse.
“Women and girls in Ghana, indeed across the globe, who have been using technology to champion climate and sustainable initiatives, need to be celebrated to inspire the next generation of women change leaders. That is why we Ring the Bell for them today.”
Ms. Abena Amoah
According to Ms. Amoah, the GSE is on course with its own sustainability journey, hence enumerated three key initiatives.
“Last year, we launched our ESG disclosure guidance manual and we also launched our rules for green agenda sustainability-linked bonds (SBLs). Our ESG manual provides the guidelines for companies listed on the exchange and the stock exchange itself to report on its ESG activities, while the Green Agenda and Sustainability –Linked Bond Rules prescribes the rules for institutions to list the Green and Sustainable Goals on the Exchange for investors to buy such products.
“The GSE was also admitted into the UN Sustainability Stock Exchange initiative and we were very proud that we had joined the network of exchangers across the world committed to promoting sustainable development.”
Ms. Abena Amoah
Meanwhile a statement issued by the UN reveals that a record of over 116 exchanges around the world will this year support the eighth annual “Ring the Bell for Gender Equality” campaign, to raise awareness about the role and opportunities for the private sector to advance gender equality and sustainable development.
Speaking during the Bourse’s Women International Day Forum was the Senior Country Officer at IFC, Cemile Hacibeyoglu, who said the IFC, which is a member of the World Bank Group is committed to increasing funding for women led firms.
“Here in Ghana, we have a strong partnership with the Ghana Stock Exchange because the drive for gender equality remains important for the IFC. IFC is stepping its work with stock exchanges to improve diversity in listed companies and also sign and adopt women empowerment principle in our operations.”
“We have supported insurance companies to develop insurance products customiseed for women to help them become more resilient. We also make extra efforts to improve women’s access to finance. The IFC have provided more than $200 million to six commercial banks to lend to SME’s with particular attention to women businesses, and we’re certainly going to do more.”
Hacibeyoglu
The statistics in Ghana reveal that Women made up of almost 50% of Small and Medium Scale Enterprises (SMEs) in the country. Thus, using the Forum, the Ghana Stock Exchange highlighted on some opportunities for women in overcoming challenges in their business operations.
Ghanaian Women In Business Urged To Capitalize On Bourse To Expand Their Businesses
Former Managing Director of the Bourse, Ekow Afedzie also present, used the occasion to call on women businesses to use the Accra Bourse to raise capital to expand their operations.
“I have one advice for women and that is to invest in bonds and shares, teach your partners about investment and do it together to be able to raise capital for your business or the home. Women entrepreneurs should take advantage of the stock market to raise capital for expansion projects.”
Ekow Afedzie
UN’s Sustainability Stock Exchange Initiative
The SSE initiative is a UN Partnership Programme organized by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policymakers and relevant international organizations, can enhance performance on ESG (environmental, social and corporate governance) issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals.
The SSE seeks to achieve this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus-building, and providing technical assistance and advisory services.
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