Minister Unveils 2020 Corporate Sustainable Investment Report

By July 31, 2021 NEWS

Nigeria’s Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo on Friday unveiled the 2020 Corporate Sustainable Investment Report (CSIR), aimed at providing key investors with additional information on sustainable investment opportunities in Nigeria.

The report, produced by the CSR-in-Action, covers more than 90 companies operating in various sectors of the economy.

It also provides comprehensive data on private companies, human rights, stakeholder inclusion, innovation and environmental sustainability practices.

Adebayo, while unveiling the report in Abuja, said it had been developed in line with leading practices.

He said the report effectively documented the corporate strategies being executed by local companies.

According to him, it was extremely important for Nigerians and foreign investors to have access to the wealth of knowledge it provided.

He recalled that in 2020, Nigeria generated 2.6 billion dollars in Foreign Direct Investments, adding that the report would be beneficial to investors while making informed decision on opportunities.

The minister commended the organisation on delivering immeasurable value to Nigerians.

The Chief Executive Officer of CSR-in-Action, Bekeme Masade-Olowola, described the CSIR as a nine-year old multi stakeholder compendium developed by the CSR-in-Action advocacy technical team that could research and disclose sustainable activities in Nigeria.

She noted that the report, which was designed as a one-stop shop for investors focused on the nexus of human rights and businesses.

She added that it also highlighted data that would motivate businesses to adopt appropriate human practices.

The 2019-2020 CSR report assessed companies under education, health, environmental management, economic and women empowerment, financial inclusion, safety, community development, good governance and sports.

On sector leaders under financial services, Access Bank came top; in extractives and energy, Chevron came top; on fast moving goods, Reckitt Benkiser Nigeria Ltd. emerged top, while Siemens emerged top under ICT, media and communications.

On services, International (Nigeria) emerged top; under transportation, Mearsk Nigeria emerged top, while under construction and manufacturing, UPDC emerged top.

These companies were assessed on human rights, ethical economies, innovation, environmental sustainability and sustainability management, according to Masade-Olowola.

Read the original article on WorldStage.