In November 2021, the Nairobi Securities Exchange released its Environmental, Social and Governance (ESG) Disclosures Guidance Manual to give directions to listed companies on how to collect, analyse, and publicly disclose important ESG data.
The manual makes boards responsible for developing and implementing appropriate policies for identifying, assessing and managing ESG-related risks and opportunities in their organisations.
Boards are also responsible for defining the sustainability reporting boundaries and establishing committees to oversee this. From November 2022 listed companies will be required to publish ESG reports annually, either separately or as part of their integrated annual reports. The topics covered will vary across industries, but there are certain elements that must be covered.