President Bola Ahmed Tinubu has assured the Chairman of the International Sustainability Board (“ISSB”) Mr. Emmanuel Faber of Nigeria’s commitment in implementing the world leading sustainability reporting standards. He gave this assurance to Mr. Emmanuel Faber on the 21st of March 2024 at the State House Abuja during a meeting with Mr. Emmanuel Faber
In the course of the meeting the importance of adopting the world leading sustainability standard could not be over emphasized as it aimed to unlock capital investments, and transform business models while preserving the environment in Nigeria. Undoubtedly, Nigeria, a leading country in gas flaring would benefit from the adoption of the world leading sustainability standard
President Tinubu’s assurance to the Chairman of the ISSB is consistent with the launch of the Nigeria’s Adoption Readiness Roadmap by the Financial Reporting Council of Nigeria in collaboration with the ISSB. The objective of the said Roadmap is to guide businesses towards comprehensive reporting standards. According to the Roadmap, businesses have up to 2028 before the adoption of sustainable reporting standards becomes mandatory.
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