The Impact Investors Foundation, in collaboration with the Global Steering Group for Impact Investment and the Financial Reporting Council of Nigeria, has empowered over 100 MSMEs, and financial, and sustainability professionals to adopt the new International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards.
The training sessions held in Lagos and Abuja aimed to prepare companies for implementing the IFRS Sustainability Disclosure Standards, ensuring consistent financial reporting globally. Representatives from various sectors attended, including corporates, SMEs, investors, policymakers, and academia.
Mrs. Ibukun Awosika, Chairperson for Nigeria’s National Advisory Board for Impact Investing Foundation, emphasized the importance of impact transparency and measurement in attracting capital to Nigeria. She highlighted the need for collaboration with regulators like FRC to ensure understanding and alignment with global standards.
Ms. Etemore Glover, CEO of Impact Investors Foundation, stressed that increased transparency leads to more opportunities for foreign direct investments, partnerships, and long-term value creation. Participants were urged to champion the adoption and implementation of ISSB standards in their businesses.
Mr. Sebastian Welisiejko, Chief Policy Officer of GSG, highlighted impact transparency as crucial for accelerating impact-led economies. He noted its potential to bridge the SDG financing gap by encouraging investment flows to emerging economies like Nigeria.
Dr. Iheanyi Anyahara from the Financial Reporting Council of Nigeria encouraged early adoption of standards by Nigerian organizations to leverage opportunities. He emphasized the benefits of a single set of high-quality global sustainability reporting standards issued by the ISSB.
In Abuja, Ms. Fatima Umar from UNDP discussed the importance of measuring and managing organizations’ impact on people and the planet, emphasizing the need for comprehensive sustainability reporting.
