HON. MPOSHA URGES ORGANISATIONS TO EMBRACE SUSTAINABILITY ISSUES IN THEIR STRATEGIC PLANNING – HON. MPOSHA
Lusaka, Monday, 16th September, 2024 – Minister of Green Economy and Environment Hon. Mike Mposha MP has urged organisations in Zambia to embrace sustainability issues in their strategic planning.
During the Sustainability Reporting Launch and Capacity Building Workshop, Hon. Mposha said the nation is currently grappling with the severe effects of drought, a stark reminder of the urgency with which these issues must be addressed.
“We find ourselves in an era where climate change and sustainability challenges are reshaping the future of businesses and economies worldwide. It is, therefore, imperative that organisations in Zambia embrace sustainability issues in their strategic planning,” he said in a speech read for him by Ministry of Green Economy and Environment Permanent Secretary Dr. Douty Chibamba.
The Honourable Minister recognised the critical role of sustainable practices and sustainability reporting in shaping business strategies and meeting the evolving landscape of regulatory requirements.
He said environmental stewardship stands as a key pillar in the country’s economic growth, as highlighted in the Eighth National Development Plan (8NDP).
Hon. Mposha said the plan outlines the risks and opportunities that organisations must address to ensure long-term viability and prosperity.
“Infact any business that does not embrace sustainability reporting in its business operations would be doomed to fail as every credible organisation now is eager to understand how you are handling these issues, including your carbon foot print,” he said.
“The bottom line of any business is no longer a simple calculus of credits and debits, investment in environmental sustainability is now an important part of a healthy business. It is for this reason that I firmly believe that the Government’s dedication to environmental sustainability is driving transformative changes in policy and regulation.”
He noted that the Government has put in place an enabling policy framework through the National Policy on Climate Change; National Adaptation Plan (NAP); Nationally Determined Contribution (NDC) and the Green Growth Strategy.
Hon. Mposha added that the Government has also reached an advanced stage to put in place legal framework through a Climate Change and Green Economy Bill.
“The NDC implementation framework articulates Zambia’s commitment to reducing Greenhouse Gas Emissions and adapting to climate change.
We are also spearheading work on the Green Bonds through the Biodiversity Finance Initiative (BIOFIN), together with the United Nations Development Programme,” he said.
He said the National Green Growth Strategy charts a course for sustainable and inclusive growth across four pivotal domains: resilient and climate-compatible growth, improved resource efficiency, strengthened natural capital, and enhanced inclusivity.
Hon. Mposha said these measures provide a solid platform for businesses to align their operations with sustainable practices, including sustainability reporting, and actively contribute to Zambia’s environmental objectives.
He said they also create avenues for growth for those businesses that integrate sustainability into their operations, while highlighting the risks that must be managed to safeguard their value.
“Beyond fulfilling regulatory obligations, sustainability reporting serves as a catalyst for organisations to evaluate and adapt to the realities of climate change and associated policies, such as the NDC implementation framework and the National Green Growth Strategy. It unlocks a wealth of opportunities that extend beyond compliance, including access to green and sustainable finance, participation in carbon markets, and the alignment of climate-positive actions with business outcomes,” said Hon. Mposha.
