A groundbreaking roadmap designed to help organizations seamlessly integrate sustainability practices into their operations, in line with COP28 outcomes, has been unveiled by The Governance Platform.
The roadmap, based on insights from the newly launched book “Sustainability and COP28: What It Means for Boards,” co-authored by Professor Fabian Ajogwu, SAN, and Dr. Onajite Newton,was presented at a recent executive breakfast session in Lagos.
The event, attended by C-level executives from multinational and local corporations, provided a platform for engaging with the authors and gaining valuable insights on fostering sustainability awareness within their companies.
The co-authors emphasized the importance of a tailored approach to sustainability, balancing the 3Ps of people, profit, and performance, and establishing clear metrics for success. They also addressed concerns about the perceived financial burden of adopting eco-friendly practices, highlighting the long-term benefits and investor preference for sustainable companies.
Mallam M.K. Ahmad, President of the Society of Corporate Governance, who presented the book, urged directors to internalize the concept of sustainability and its practical implementation within their organizations.
Professor Ajogwu stressed the need for customized sustainability strategies, stating, “There’s no one-size-fits-all solution. Boards need to be proactive in tailoring their sustainability agenda to the specific sectors they operate in and to sustain the core purpose of their entity.”
Dr. Newton explained that her motivation for writing the book was to shift mindsets about sustainability. “It’s crucial to educate boards, prompting them to assess their current positions and define clear paths towards sustainability in their business operations,” she said.
Dr. Newton also emphasized the importance of helping boards establish metrics for success and highlighted the significance of conducting materiality assessments as a first step in transitioning towards a sustainability-focused organization.
This new roadmap offers a valuable resource for businesses seeking to align their practices with global sustainability goals and reap the long-term benefits of a sustainable future.
