- This cooperation will support NSE’s strategy of driving sustainability and the ESG movement in Kenya.
- It is estimated that ESG business services spending will grow to $158 billion in 2025
Environmental, Social and Corporate Governance (ESG) reporting is gaining momentum in Kenya and East Africa, as investor interest and activism rise globally.
GreenCo ESG Consultants (GEC) an emerging ESG Advisory firm in Kenya has partnered with Risk Insight (RI) to provide access to ESG ratings.
They will also offer disclosure information and strategic business intelligence services to Nairobi Securities Exchange (NSE) listed companies.
This cooperation will support NSE’s strategy of driving sustainability and the ESG movement in Kenya.
GEC will provide strategic business intelligence and ESG advisory to listed firms to improve their sustainability reporting across their ESG pillars.
GEC’s CEO Irene Keino says that this partnership is timely as there is a growing interest by various players, as ESG disclosure frameworks are being enhanced around the globe.
"It is indeed a great moment for the country to have NSE drive the ESG initiative for the national economy as well as the government’s commitment to climate change and sustainability,'' Keino said.
RI’s CEO Andrey Bogdanov said his firm is pleased to partner with woman-empowered business GEC to drive the sustainability agenda in Kenya and beyond using the continent’s first AI- pioneered international award-winning solution - ESG GPS.
NSE’s CEO Geoffrey Odundo on his part congratulated the two companies on their partnership aimed at driving ESG and sustainability in Kenya.
The NSE plays a strategic role in the shift towards more comprehensive ESG disclosure.
As an Exchange, we enable economic growth and development by facilitating the mobilisation of financial resources and bringing together those who need capital to innovate and grow with those who have resources to invest,'' Odundo said.
He said that this can only be achieved in an environment that is secure, transparent and equitable.
Organisations face mounting pressures to improve and document their ESG performance.
A new forecast from International Data Corporation (IDC) estimates that ESG business services spending will grow to $158 billion in 2025 with a five-year compound annual growth rate (CAGR) of 32.3 per cent.