GSE launches updated sustainability reporting manual

The Ghana Stock Exchange (GSE) has unveiled an improved Sustainability Disclosure Guidance Manual, emphasizing the importance of sustainability in business strategies for profitability, resilience, and environmental protection. Developed with support from the Swiss State Secretariat for Economic Affairs (SECO) and the Global Reporting Initiative (GRI), this manual builds upon a 2022 version to assist companies in identifying and reporting environmental, social, and governance (ESG) risks and opportunities.

GSE Managing Director Ms Abena Amoah highlighted recent changes to the sustainability reporting landscape, including the phased implementation of IFRS S1 and S2 standards by Ghana's Institute of Chartered Accountants. She also noted that the Bank of Ghana's Climate-Related Financial Risk Directive had come into effect, requiring banks to enhance their governance and reporting systems.

The updated manual aims to simplify the compliance process, focusing on practical guidance to help companies embed sustainability into their strategies, governance, and financial reporting. Since the last edition, Ghana's capital market has shown significant activity, with the GSE equities index up 73% year-to-date and monthly trading volumes doubling. Companies are encouraged to adopt the manual prior to the mandatory reporting requirements in 2027.