Makers and Partners (MAP), a chartered accountancy firm is urging businesses to take significant steps towards embracing Environmental, Social, and Governance (ESG) practices to help evaluate their sustainability and ethical practices.

ESG is a set of standards that checks how the operations of companies impact the environment, how the employees are treated and how the companies uphold corporate governance.

Ghana, like many developing countries, faces challenges related to industrialisation, deforestation, and energy production that contribute to carbon emissions, however, the government has implemented several initiatives to manage and reduce these emissions.

While Ghana has made strides in carbon emission and management, challenges remain; these include funding constraints, technological barriers, and the need for capacity building.

Speaking in an interview with Joy Business on the sidelines of a forensic investigation training for internal auditors of the Environmental Protection Agency (EPA), Wilfred Neneh Addico, Partner Advisory at MAP, stated that ESG has become a basic requirement for companies, particularly companies listed on Ghana Stock Exchange (GSE).

He mentioned that GSE has passed guidelines for these companies and MAP is well positioned and has built the capacity to provide assessment for organisations.

Mr Addico added that not just assessment but also assisting in implementing the techniques of ESG would make organisations more responsible in terms of how they impact the environment “for example, reducing their carbon emissions to make their operations clean”.

He revealed that at MAP, the next step is to take ESG to even non-listed companies on the stock exchange so they could be more environmentally responsible and contribute towards reducing carbon emissions”.

Carbon Emission Management plays a critical role in Ghana’s efforts to combat climate change and promote sustainable development.

The country’s commitment to reducing emissions and engaging in international carbon markets reflects a proactive approach towards building a greener and more resilient future.