At the 41st session of the ISAR Honours 2024, held by UNCTAD, Impact Africa Consulting Limited from Kenya was recognized advancing ESG integration within businesses and helping them align their operations with the 2030 Agenda for Sustainable Development. The award highlighted the firm’s work in supporting businesses to strengthen their environmental, social, and governance (ESG) practices, enhance sustainability reporting, and build the necessary capacity to meet international sustainability standards. Through these efforts, Impact Africa Consulting has played a crucial part in helping organizations improve their sustainability performance and contribute meaningfully to the global sustainability agenda.
The ISAR Honours recognizes outstanding policy, institutional, and capacity-building initiatives that help businesses publish data on their contributions to sustainable development, improve their sustainability reporting, and facilitate the integration of ESG issues into their reporting cycles. This year, 50 applications were received, with 37 from national organizations and 13 from international entities, all demonstrating innovative approaches to promoting sustainable business practices. The awardees represent a diverse group of organizations, including public and private sector entities, non-governmental organizations, and international bodies, all working towards enhancing the quality of sustainability reporting and supporting the achievement of the Sustainable Development Goals (SDGs).
One of the other key honorees was the Securities and Exchange Commission of Brazil, recognized for its CVM Resolution 193/23, a regulatory measure aimed at improving corporate transparency in sustainability reporting. The resolution mandates companies to disclose their environmental, social, and governance (ESG) performance, aligning their operations with the SDGs. This initiative plays a crucial role in fostering transparency and enabling investors and stakeholders to make informed decisions based on companies’ sustainability practices.
In the Philippines, the Securities and Exchange Commission received recognition for its SMILEES Roadshow, a nationwide initiative aimed at educating businesses about the importance of sustainability and ESG reporting. Through this initiative, the commission has raised awareness among businesses about the benefits of adopting robust sustainability practices and reporting on their contributions to sustainable development. To date, the SEC has conducted three SMILEES roadshows, engaging over 600 participants in Cebu, Davao, and Baguio City.
Looking ahead, the SEC is expanding these efforts to other regions and is exploring additional collaborations to enhance sustainability reporting among businesses.
At the international level, several organizations were honored for their groundbreaking efforts in promoting sustainability. The WWF Greening Financial Regulation Initiative was awarded for its SUSREG program, which seeks to integrate sustainability into financial regulations and central bank activities. This initiative aims to create financial systems that are more aligned with the SDGs, incorporating environmental and social risks into financial decision-making processes. By influencing financial regulations, SUSREG has played a vital role in making the financial sector more sustainable and resilient to global challenges such as climate change.
The Pan African Federation of Accountants received recognition for the establishment of the PAFA Sustainability Centre of Excellence, a platform designed to support African businesses in adopting sustainable accounting and reporting practices. The center provides training, resources, and guidance to organizations across Africa, helping them integrate sustainability into their financial reporting processes. The center’s efforts have contributed significantly to promoting transparency and accountability within the African business community, advancing the continent’s progress toward achieving the SDGs.
In addition, special nominations were awarded to organizations for their exceptional work in driving sustainability at the national and international levels. CA PARIVAAR Educational and Welfare Society in India was recognized for its “One Earth, One Family, One Future” initiative, which focuses on promoting sustainability through education and professional excellence. The initiative encourages individuals and businesses to adopt sustainable practices, contributing to a more sustainable future. In the Kyrgyz Republic, the Financial Market Regulatory Service and the Kyrgyz Stock Exchange were honored for their efforts in developing the Sustainable Development Sector, which aims to promote sustainability in the country’s financial sector. Their work has helped local businesses improve their sustainability performance and report on their contributions to the SDGs.
CentraRSE in Guatemala also received recognition for its Sustainability Report Implementation Program, which helps businesses in Guatemala improve their competitiveness through enhanced sustainability reporting. This initiative supports companies in adopting responsible business practices and integrating sustainability into their operations, ensuring they contribute to the country’s long-term economic, social, and environmental goals.
On the international stage, Association of Chartered Certified Accountants (ACCA) was awarded for its “Accounting for a Better World” initiative, which integrates sustainability into accounting practices globally. The program provides accountants with the tools and knowledge they need to help businesses measure and report on their ESG impacts, contributing to more responsible corporate practices worldwide.
The Skoll Center for Social Entrepreneurship at Saïd Business School, University of Oxford, and the Value Balancing Alliance were recognized for their Impact Valuation Sprint, a program that helps companies assess and measure the broader social, environmental, and economic impacts of their operations. This initiative encourages businesses to adopt a more holistic approach to value creation, taking into account not only financial returns but also the impact of their activities on society and the environment.
Global Reporting Initiative Latin America was also honored for its Competitive Business Program (CBP), which focuses on improving the quality of sustainability reporting in Latin American businesses. The program helps companies adopt GRI Standards, enhancing their ESG performance and contributing to the region’s sustainability goals. Through this program, businesses in Latin America have been empowered to adopt better sustainability practices and report their progress toward achieving the SDGs.
These initiatives reflect a growing global movement towards sustainability integration in business operations and the importance of capacity-building programs that empower organizations to adopt responsible business practices. The ISAR Honours serves as a platform to celebrate the contributions of organizations working to improve sustainability reporting, promote transparency, and support the achievement of the SDGs.
For Impact Africa Consulting, the ISAR Honours 2024 recognition is a testament to its efforts in helping African businesses improve ESG reporting and integrate sustainability into their operations. The consultancy continues to play a critical role in advancing sustainability practices across the continent, helping businesses align with global standards and contribute meaningfully to the achievement of the Sustainable Development Goals.
