IFRS Sustainability Standards: What Nigerian Companies Must Do Now
Investors' expectations are shifting, and as the public and private sectors’ focus on ESG compliance grows, companies are expected to show how they manage environmental, social, and governance risks in their operations. This has made Sustainability reporting a critical requirement for businesses in Nigeria as well as other African nations. The International Sustainability Standards Board introduced the IFRS Sustainability Disclosure Standards, establishing a global reporting framework. Nigeria’s Financial Reporting Council (FRC) has also published a roadmap to guide companies through the adoption process. Many companies are still unsure of where to begin or how to approach the process. However, with clear steps and the right support, this transition can be managed in a way that strengthens not only business performance but credibility....