In partnership with Norfund, UK’s development finance institution, CDC Group, is organising a four-day workshop in Lagos to focus on Environmental, Social and Governance (ESG) implementation. The event will have over 60 private equity fund managers, alongside their portfolio companies’ leadership teams from across the continent.
Nigerian private equity managers such as Africa Capital Alliance and Verod Capital Management are some of the noble participants, including pan-African private equity firms including AfricInvest.
The event will convene more than 160 participants, including fund managers, investment officers, board members, ESG officers, impact officers, managing directors, and human resources directors and managers at the portfolio company level.
Details of the workshop: The workshop will focus on how to solve problems and persuade company management to prioritise and quantify how ESG considerations link to sustainable and long-term impact.
The training includes a wide range of modules covering the integration of ESG into investment cycles, the International Finance Corporation’s Performance Standards, implementing environmental and social management system within portfolio companies, measuring impact, and addressing novel issues such as data privacy or the circular economy.
The programme also includes a session on effective workforce management to drive business success, gender equality and women’s economic empowerment across corporate value chains, as well as a module on the risks and opportunities posed by climate change.
Finally, it includes board-level training on ESG and business integrity which focuses on how the board and senior executive directors can take responsibility for the sustainability agenda within their companies.
The CDC Group is the UK’s development finance institution tasked with the responsibility of financing businesses across Africa and South Asia to create sustainable economic growth and jobs. This initiative forms part of CDC’s mission to share best practice and educate fund managers across the continent.
Speaking on the initiative, Benson Adenuga, Head of Office and Coverage Director, Nigeria, CDC Group said, “ESG is the cornerstone of a more sustainable future for Nigerians, be it in terms of job creation and quality or a less polluted and safer environment for the next generation. This week’s technical training have equipped participants with the skills and knowledge required to translate this vision into reality.”
Vice President & outgoing ESG Manager, Verod Capital, Alex Ekpiken, also stated that “CDC’s ESG training programme comes at an important time for the sustainability agenda, which is now at the front and centre of the private equity industry in Nigeria and across the continent. As the programme has shown, implementing rigorous ESG standards makes sense not only because it’s the right thing to do, but also because it leads to better commercial performance.”
Meanwhile, the Manager, Environment and Social Responsibility for CDC Group, Guy Alexander, asserted that “We are delighted to have convened such a broad range of fund managers from Nigeria and across the continent. There is a real appetite among fund managers to learn more about ESG and its implementation, both within funds and portfolio companies. We are encouraged by this enthusiasm and look forward to continuing supporting private equity firms and their portfolio companies at a time when ESG and sustainability are becoming more important than ever.”