AMH is an independent media house free from political ties or outside influence We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and NewsDay, our daily newspapers Each has an online edition Many companies operating in the mining sector in Zimbabwe have embarked on their sustainability journey to measure and report on the most significant impact of their activities on the economy, the environment, and people
The call for sustainability compliance is increasing in Zimbabwe from both regulatory and voluntary perspectives From a regulatory’ perspective, compliance with sustainability reporting has become a legal requirement under Statutory Instrument (SI) 134 of 2019, issued by the Securities and Exchange Commission of Zimbabwe (SecZim) The regulations mandate all publicly listed companies to report on sustainability matters In 2023, the Zimbabwe Stock Exchange (ZSE) introduced core ESG disclosure metrics, which came into effect on 1 January 2024, to further enhance compliance and standardisation of ESG standards that must be used by listed companies
There are also companies that are reporting on sustainability, but their parent companies are listed on foreign stock exchanges, which make ESG reporting a mandatory requirement just like the ZSE These companies include Mimosa, Unki and Zimplats They are complying with stock exchange-regulated ESG reporting The intention is not just about compliance but making deliberate sustainability measures to create the social licence to operate, contribute towards the achievement of Sustainable Development Goals (SDGs), reduce possible financial losses and create long-term business success
On the other hand, the Public Accountants and Auditors Board is making inroads in enforcing the implementation of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, which will require listed companies to adopt IFRS in their reporting process At policy level, the government is planning to develop an ESG policy for the mining sector The government, through the Mines Bill, is proposing to legislate the Responsible Mining Standards to ensure that beyond submission of production returns, mining companies will be required to provide information on how they will be complying with ESG metrics.
Source: Theindependent
