Kathmandu. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal has said that environmental, social and good governance (ESG) is essential for a sustainable future. Dhakal said this while speaking at a workshop organized jointly by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and The International Finance Corporation (IFC) in Kathmandu on Friday.
Speaking on the occasion, FNCCI President Dhakal said that ESG is not only a trend but also an essential path towards a sustainable future for the business. He also said that this is a way to open new opportunities for emerging economies like Nepal.
“Awareness of ESG standards is becoming increasingly important in recent times. ESG is essential for risk management. This project, which started in Nepal, will help nepali businesses to prepare according to international standards. ” he said. Although the FNCCI has been working in the areas of environmental sustainability, social initiatives and good governance in different ways so far, it has now planned to move forward towards integrating all these initiatives through this framework, dhakal said.
Stating that the FNCCI has also taken the environmental and social risk management guidelines adopted by the Nepal Rastra Bank (NRB) positively, Dhakal said the government’s amendment to more than 30 laws was expected to promote domestic and foreign investment. The participants were informed that necessary training and capacity building programmes related to ESG would be identified through the survey. The Federation has also organized an ESG workshop in Koshi Province soon after.
The workshop, attended by stakeholders, private sector representatives, policy makers and international partners, stressed the need to integrate issues related to environment, society and good governance as a whole.
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