The Institute of Directors-Ghana (IoD-Gh) and the International Finance Corporation (IFC), a private sector-focused development institution of the World Bank Group, have commenced discussions to integrate Environment, Social, and Governance (ESG) practices into the training modules of the Institute.
The ESG programme is intended to assist businesses and institutions to strengthen their environmental, social, and governance practices with tools to better address and assess risks and improve their sustainability and long-term performance.
The two institutions are also exploring avenues to train women board directors and empower more women to take up leadership positions in their organisations.
A delegation from the IFC, led by Moez Miaoui, the Environmental, Social, and Governance Advisory Lead, North and West Africa, on Friday, held a meeting with the leadership of the IoD in Accra to explore possible areas of partnership.
At the meeting, it was agreed that a working group would be constituted to develop a workplan and concept note to facilitate the agreed areas of cooperation.
Mr. Miaoui said it was important for directors and managers to learn about climate risk and sustainability and know how they could integrate that into the plans and activities of their respective organisations.
“It is all about sustainability and if we do not approach environment, social, and climate risks, and how governance would receive the whole concept, then we are missing something,” he said.
Mr Miaoui said by training more women directors, the IFC was confident that existing gender disparities in management positions would be bridged.
Reverend (Mrs) Angela Carmen Appiah, President and Board Chair, IoD-Ghana, said the Institute was excited about the IFC’s proposal and would work closely with the team to develop new or review its existing training modules to suit the proposal.
“There are conversation in other jurisdictions on board parity and where the balance should be.
We are looking to drive this agenda in Ghana and it will be the first and thankfully the IFC has done significant work in other jurisdictions,” she said.
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