Almost 50% of Ghana’s Listed Companies Fall to Meet ESG Reporting Standards

Almost 50% of Ghana’s Listed Companies Fall to Meet ESG Reporting Standards

48% of companies listed on the Ghana Stock Exchange (GSE) are not yet complying with Environmental, Social, and Governance (ESG) reporting requirements.

This is according to a recent survey by audit firm, KPMG.

Among those reporting on ESG, 52% have adopted sustainability disclosures, with 75% relying on parent companies’ reports, while only 25% disclose as standalone entities.

According to the survey industries such as beverages, mobile telecommunications, and oil and gas show full compliance, whereas mining and food production industries report non-compliance rates of 67% and 33%, respectively.

Key findings from the survey indicate that only 45% of listed companies have integrated sustainability into board responsibilities, while less than half have adopted globally recognized standards like the Global Reporting Initiative (GRI) or Sustainability Accounting Standards Board (SASB).

Carbon reduction targets are included in reports by about 45% of companies, signaling an emerging focus on climate action. However, only 39% consider biodiversity loss as a business risk.

To bridge this gap, the report emphasizes actions such as stricter guidelines and incentives for ESG compliance, capacity building, materiality assessment, board-level commitment, and stakeholder engagement.

Source: citinewsroom.com