Dr. Kwabena Situ, Assurance Partner at Deloitte Ghana, has urged institutions to embrace the Environmental, Social and Governance (ESG) Materiality Assessment to unlock potential funding.

According to him, investors are keen on the Materiality Assessment since it is an impact-driven activity.

An ESG Materiality Assessment is a crucial process where institutions identify, evaluate, and prioritise the most significant ESG issues affecting their operations and stakeholders. This forms the foundation for effective sustainability strategy, risk management, resource allocation, and transparent reporting.

Speaking as a panelist at the Association of Certified Chartered Accountants (ACCA) Annual Conference in Kenya, Dr. Situ said the Materiality Assessment is one of the key activities carried out by organisations implementing ESG, highlighting that the purpose of the Materiality Assessment is to identify topical issues to report on.

“Materiality Assessment is one of the key activities to be carried out by organisations implementing ESG. The purpose of the Materiality Assessment is to be able to identify topical issues to report on. So, without a proper materiality assessment, you cannot have topical issues to report, which are issues of interest to investors”.

“The focus of ESG reporting is the investors. So, if the investors get to know what topical issues you [institution] are dealing with, they will be interested in them. So, you can also receive your funds”, he added.

He acknowledged the European framework as the proper sustainability tool since it encompasses both impact materiality and financial materiality.

The plenary discussions on sustainability standards adoption brought together regulators and professional bodies to explore how Africa can strengthen reporting practices and ensure quality, comparability and preparedness across markets.

The speakers emphasised the importance of collaborative guidance and shared frameworks that enable both compliance and competitiveness.