Rubicola Partners NGX, ACCA on Sustainability, Climate Risks Disclosures Reporting

Rubicola Consulting has teamed up with NGX Regulation Limited and the Association of Chartered Certified Accountants (ACCA) to conduct an intensive workshop, in a move towards enhancing corporate transparency and sustainability in Nigeria.

This initiative aligns with Nigeria’s rapid adoption of the IFRS S1 and S2 Standards.

Scheduled for June 25, 2024, the event is tailored for chief executives (CEOs), chief finance officers (CFOs), chief sustainability officers (CSOs), chief risk officers (CROs), directors, and other senior business leaders.

The workshop aims to equip senior business leaders with the knowledge and tools necessary to navigate the evolving landscape of corporate sustainability and reporting as Nigerian companies gear up to meet the new IFRS Sustainability Disclosure Standards.

Financial Reporting Council (FRC) had earlier this year, unveiled its comprehensive Roadmap Report for transitioning to these new standards, emphasising the importance of providing investors with relevant non-financial information related to social, environmental, and governance issues. This initiative aims to complement traditional financial performance metrics and bolster investor confidence.

Nigeria’s swift adoption of the IFRS S1 and S2 Standards, effective from January 1, 2024, positions it among the first countries to support these global benchmarks. This move is part of the Tinubu administration’s broader strategy to attract foreign direct investment and foster a robust economic environment.

Commenting on the upcoming workshop, founder of Rubicola Consulting and event organiser, Joseph Owolabi, said: “FRC has emphasised the importance of capacity building as part of the ‘Readiness Test Assessment’ and ‘Support for Adopters’ in the Adoption Readiness Working Group (ARWG) Roadmap report. To support the readiness of Nigerian companies, Rubicola is partnering with the Nigerian Exchange (NGX-Regulation) and Association of Chartered Certified Accountants (ACCA) to organise a full-day intensive workshop for senior business leaders.”

He added that, “Rubicola has been at the forefront of sustainability and climate revolution globally. As the first firm in Africa to be accredited by the Climate Bond Initiative (CBI) U.K. for verification of green bonds, we continue to promote awareness for sustainability and climate finance across the continent. Our founder played a pivotal role in the issuance of the first Sovereign Green Bond issued by the Federal Government of Nigeria in 2016.”

Speakers expected at the event include Chief Executive Officer of NGX Regulation Ltd, Olufemi Shobanjo; Special Advisor on Climate Change and Circular Economy to the Governor of Lagos State, Titi Oshodi; and Market Head of ACCA Nigeria, Tom Isibor. The workshop will be facilitated by Evelyn Isioye, ACCA Regional Lead, Policy & Insight for India & Africa, and Joseph Owolabi, Founder of Rubicola Consulting, Immediate Past Global President of ACCA, and the organiser of the event.