Minister Urges Zambian Organizations to Integrate Sustainability in Strategic Planning
In a call to action for organizations across Zambia, Minister of Green Economy and Environment Hon. Mike Mposha has emphasized the critical need for incorporating sustainability issues into strategic planning.
Speaking at the Sustainability Reporting Launch and Capacity Building Workshop, Hon. Mposha highlighted the urgent need for businesses to address climate change challenges, particularly in light of the severe drought currently affecting the country.
In a speech delivered by Permanent Secretary Dr. Douty Chibamba, Hon. Mposha underscored the role of sustainability reporting as a vital component of modern business strategy. He noted that environmental stewardship is central to Zambia’s economic growth, as outlined in the Eighth National Development Plan (8NDP).
“Organizations that neglect sustainability reporting risk failure,” he warned, stressing that contemporary business success hinges on managing carbon footprints and adhering to sustainable practices.
The Minister outlined the government’s commitment to environmental sustainability through various frameworks, including the National Policy on Climate Change, the National Adaptation Plan (NAP), and the Green Growth Strategy.
He also highlighted the forthcoming Climate Change and Green Economy Bill, which aims to establish a robust legal foundation for climate action.
Hon. Mposha emphasized that sustainability reporting not only fulfills regulatory obligations but also provides businesses with opportunities for growth. “It enables access to green finance, participation in carbon markets, and alignment with climate-positive actions,” he said.
Mrs. Yande Mwenye, President of the Zambia Institute of Chartered Accountants (ZICA), echoed these sentiments, highlighting the interconnection between Zambia’s economic sectors and sustainability challenges.
She praised the National Green Growth Strategy, launched in April, and called for the urgent tabling of the climate and sustainability bill in Parliament to facilitate investment and implementation of the strategy.
Mrs. Mwenye also emphasized ZICA’s role in supporting businesses through the adoption of IFRS S1 and IFRS 2 standards, which focus on reporting significant impacts on the economy, environment, and people. The newly formed Adoption Readiness Working Group (ARWG) will play a crucial role in preparing Zambia’s institutions for effective implementation of these standards.
