23 Jun 2022

Government has demonstrated commitment to sustainable finance through investing in environmental and social inclusion projects.

Acting Minister of Environment and Tourism, Mr Mabuse Pule told a Rand Merchant Bank (RMB) sustainable finance and Environmental, Social and Governance (ESG) conference in Gaborone yesterday such investment included establishment of the environment, tourism and conservation funds.

He said in addition, government had through UNDP support created a platform for private sector participation in sustainable development and Sustainable Development Goals (SDGs) processes.

Debswana, Bankers Association of Botswana and Botswana Stock Exchange were among those which had been brought on board for  sustainable development and  SDGs implementation discourse, Mr Pule said.

He revealed that some companies, both in and outside the financial services sector, were seizing the opportunity and investing in sustainable business models.

Mr Pule said significant progress would be made through a broad based approach that facilitated sustainability uptake across the entire financial sector and the whole business spectrum.

He singled out for commendation  Botswana Stock Exchange which he said had started promoting learning and uptake of sustainable development among its listed companies, an initiative supported by UNDP.

“This initiative, when properly nurtured and grown across the industry, will not only expand the operational space of business, but will also contribute to the realisation of Botswana’s vision 2036 and national development plans,” he said.

Mr Pule said government sought to deepen partnerships with the private sector and provide a platform for dialogue between business, policy makers and society at large.

First National Bank Botswana (FNBB) chief executive officer, Mr Steven Bogatsu said ESGs had taken center stage as a global theme for corporate strategies.

Corporates were increasingly recognising their role in supporting the transition to a more climate resilient, lower carbon and socially inclusive economy, he said.

Therefore, he said, RMB, a division of FNBB, was intentional about partnering with clients to understand and advise on their sustainability strategies and provide innovative, sustainable solutions to support transition to the envisaged economy.

RMB head of sustainable finance and ESG advisory, Mr Nigel Beck stated that there was increased pressure from investors and consumers globally for companies to be ESG-compliant.

Consumers believed that brands bore the same responsibility as  government to drive sustainable changes, he said. Ends