Sec considering the gradual implementation of ISSB standards – Agama

The general manager of the Securities and Exchange Commission (sec), Dr. EMOMOTIMI AGAMA, revealed that the Commission is taking into consideration a gradual implementation of the global sustainability disclosure standards developed by the international organization of commissions for securities (Iosco).

Dr. Agama, who spoke at a round investor table at the International Sustainability Standards Board (ISSB) during the weekend, explained that Nigeria, having participated in the Task Force that developed the standards, would have continued to support the four pillars on which they were built.

He observed that Nigeria, with its vast natural resource and its growth growing, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable financial agenda”.

While praised the ISSB framework, Agama stressed that Nigeria would not simply “copied and glued” the standards, but would have adopted a carefully tailor -made approach.

“This means: the development of capacity – working with issuers, auditors and preparers to make sure they understand and are ready for the new requirements; gradual implementation – considering a graduated approach, perhaps starting from wider entities and listed before expanding to others; guarantee framework – in a way that is appropriate in a way that has applied a way that has applied in a positive way in a way it is applied in a way The baselizes, in a way that has applied itself in a positive way.

Agama added that the Commission has opted for this method “because we believe that embracing this global base will improve the attraction of the Nigerian capital market. Report to international investors that we are seriously on the fact that we are seriously on transparency, governance and long -term risk management. It has transformed the ISSB from a new promising initiative in the definitive global framework for the dissemination of sustainability.”