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Nigeria’s most sustainable and community supportive corporations will now be listed in both Forbes’ top 50 companies and Global 100 Index. Forbes is American business magazine while Global 100 is a ranking of the world’s most sustainable corporations compiled by Toronto-based media and investment advisory firm, Corporate Knights (CK).
The listing of the Nigerian companies is on the ground of recent partnership between both organisations and Sustainability Enterprise Responsibility Awards, SERAs. Established 13 years ago, SERAs mission is to lead the drive towards actualization of the sustainable development goals in Africa by enabling a platform that promotes, measures and harmonizes the contributions of private sector, governments/public sector and non-governmental organizations to attain set targets.
Speaking to BusinessDay in Lagos, Ken Egbas, initiator of SERAs and Founder/CEO of TruContact CSR Nigeria said the picking of some Nigerian organisations by Forbes and Global 100 will create more social value about those companies and their projects. “This is good visibility and it is a very good way to position Nigerian brands and the country”.
He said sustainability projects have become very key brand differentiator and many organisations are keying into the SERAs.
Ken further said that about 180 organisations in Nigeria have spent about N50 billion in CSR and sustainability projects over the last 10 years, with highest investment coming from oil and gas sector followed by the Telecoms.
He said though Nigeria and South Africa have the highest spend on CSR but regrets that the impact is low on society. He agrees that companies mean good but may lack understanding of community needs. According to him, many companies therefore need to rethink their community engagement model.
Advising organisations to solidify their embrace on community projects, Ken said “we cannot develop our society depending solely on government. Responsibility starts individually into workplace as no individual lives and succeeds alone”.
On the argument that organisations pay taxes and therefore it is the responsibility of government to develop the society, Ken said if organisations wait on government and it is not working, time will eventually come when organisations will not be able to run their businesses. And that is why UN looks at continents like Africa where poverty is pervasive and recommended strategic partnership for development.
Ken who was also speaking at his organisation’s engagement with company representatives on winning and making impact with community- based CSR projects therefore said the new theme this year is about partnership. The theme is Driving sustainability through inclusive growth: Partnership as catalyst for unlocking opportunities. Discussion will focus on poverty reduction, employment, agriculture, social sector, protection of environment and gender equality.
He strongly believed that businesses should be a source of growth in any society and changes will come from those who make critical decisions.
Daniel Obi
