Economy and Politics: Synergy Between Research and Policy, Key For ESG Adoption In Nigeria's Business Environment - Olanrewaju Sharafa
The synergy between research from universities and the policy framework in Nigeria, will play a vital role in the adoption of the Environmental, Social and Governance, ESG component by MSMEs and Large corporations in the country.
Mr. Olanrewaju Sharafa the Principal Lecturer, Tower College, London, United Kingdom disclosed this as a guest on the "Economy and Politics" show anchored by Ottoabasi Abasiekong which explored "CAMA ACT 2020: The ESG Component".
Quoting from Professor Alex Edman's book "Grow The Pie" Mr. Sharafa asserted that the essence of Companies are to make profit and achieve social impact. Speaking on the CAMA ACT 2020 and the provisions for ESG the scholar said in Section 305(4) it addressed the role of Directors as it "Implies" to the environment.
He however believed that Section 172 of the UK Companies ACT 2006 which stipulates the engagement of Directors and Companies with Stakeholders was a good example of how business laws are explicit about the ESG component.