Environmental, Social, and Governance (ESG) considerations have moved from the margins of corporate discourse to the very heart of how modern businesses attract capital, manage risk, and earn public trust.
Globally, ESG is no longer a “nice to have”; it is a defining lens through which investors, regulators, and communities assess corporate purpose and performance.
This message was delivered recently at the ESG State of Play in Nigeria Conference, hosted by the Nigeria Employers’ Consultative Association (NECA), under the theme: “Improving Employers’ Effective Participation, Awareness, and Fostering Dialogue on ESG in Nigeria.”
The conference highlights the importance of equipping employers with knowledge, tools, and platforms to lead Nigeria’s ESG journey.
ESG progress is unfolding against a backdrop of global uncertainty. Recent policy shifts and rising anti-ESG sentiment have led some major US and international banks to exit the UN-led Net-Zero Banking Alliance.
These developments have slowed climate finance momentum and created questions about coordinated global action.
But moments of turbulence often separate symbolic commitment from real conviction. While some institutions retreat, leading organisations are doubling down on business-driven ESG strategies.
Credible action, grounded in strong governance and transparent reporting, is now more essential than ever in order to sustain trust and unlock long-term value.
For developing economies, the stakes are higher. Institutions like the World Bank continue to support climate finance and sustainable development, particularly in emerging markets.
This reflects a clear recognition that global sustainability will fail unless Africa and other developing regions are fully included. ESG is therefore not a Western imposition but a global necessity with local relevance.
In Nigeria, the relevance of the above statement is increasingly evident. The ESG journey has evolved from isolated pilot initiatives to structured regulatory and policy phases. Regulators are driving mandatory sustainability disclosures while laying the groundwork for a national carbon market.
