Friday, May 31, 2019 /
11.ooAM / Ottoabasi Abasiekong for Proshare WebTV
Dangote Cement yesterday emerged the first quoted company in the Nigeria Stock Exchange to make a formal presentation of its sustainability report to market stakeholders.
At the floor of the exchange the Dangote Cement team led by the Group Managing Director Engr. Joseph Makoju performed the closing gong ceremony to mark the event.
Giving the opening remarks the Divisional Head, Shared Services of the NSE Mr Bola Adeeko representing the CEO Mr Oscar Onyema, commended Dangote Cement for setting the pace in “Sustainability Reporting”.
According to the CEO “In 2013, we developed a sustainability strategy that was anchored on the four pillars of Marketplace, Workplace, Community and Environment. These pillars allows us to embrace sustainability principles in our operations, internalize the values as employees, and influence our ecosystem whilst remaining a good corporate citizen. To further raise the bar, we joined the Sustainable Stock Exchanges Initiative and the World Federation of Exchanges, two reputable organisations that fuel our aspiration of fostering the growth of long term sustainable finance”.
Speaking further on the event Mr Onyema through his representative said “We are pleased that Dangote Cement Plc has chosen to champion the maiden edition of the Facts Behind the Sustainability Report series, both to launch and discuss highlights of their first ever stand-alone sustainability report. According to the Principles for Responsible Investment, the financial community is increasingly aware that ESG factors play a material role in determining risk and return”.
The CEO of the NSE also noted that the Dangote Cement’s 2018 sustainability report is compliant with the NSE Disclosure Guidelines and Global Reporting Initiative.
Onyema encouraged Dangote Cement Plc to continue in its stride to incorporate sustainability by adhering to high standards of corporate governance, deepening its social impact, exceeding regulatory compliance, and delivering greater returns for shareholders.
Group Managing Director of Dangote Cement Plc Engr. Joseph Makoju informed market stakeholders that the 2018 sustainability report, had external assurance from PriceWaterHouseCoopers, PwC.
He said the assurance adds credence to the seven(7) adopted sustainability pillars approach of the company, which constitute the ‘Dangote Way’.
Makoju asserted that the Dangote Cement approach was predicated on stringent materiality, stakeholder engagement and prioritization process which was launched to refine and validate.
“Our 2018 report is highly symbolic as it reflects the seriousness with which sustainability as part of our core business model is being taken at Dangote Cement. It also demonstrates the achievement of the operationalization of our global partnership principles like the United Nations Global Compact and Sustainable Development Goals, as well as the mainstreaming of global priorities for sustainability such as the Paris Climate Agreement” Makoju said.
He listed the seven(7) sustainability pillars driving the Dangote Cement approach, which include; Institutional, Cultural, Operational, Environmental , Financial , Economic and Social Responsibility.
Makoju also stated that Dangote Cement leveraged sustainability to achieve regulatory compliance, building trust/goodwill in the country’s market and communities and risk management.
“As the Largest Cement Company in Africa, we understand the potentially significant impact how our operations could have in building sustainable local economies across the continent” The Dangote Cement GMD said.
The Group Chief, Sustainability for Dangote Industries Limited Dr Ndidi Nnoli-Edozien in an interview with Proshare WebTV, asserted that sustainability provided an opportunity for the company to look at the economic, social and environmental factors in the communities they operate.
She was of the view that the Sustainability approach positioned Dangote Cement to be solution providers, by working with partners, host communities and employees, civil society groups and government.
Dr Ndid Nnoli-Edozien also stressed that Sustainability could be viewed from the innovation standpoint, by the creation of operational efficiencies and cost efficiencies by using alternative fuels, using less water, recycle and improve packaging, selling in bulk to reduce west and also drive the circular economy.
Giving an example she said a Dangote Sugar Plant will use the waste generated from sugar cane to produce energy, making it self-sufficient in energy and able to provide host communities with power.