ESG is essential for a sustainable future, says FNCCI President Dhakal
KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal stated that environmental, social and governance (ESG) is essential for a sustainable future.
Addressing a workshop hosted by FNCCI in Kathmandu on Friday, President Dhakal said that ESG is no longer merely a trend but a mandatory path for the sustainable future of businesses. He added that for emerging economies such as Nepal, this opens new opportunities. "Awareness of ESG standards is becoming increasingly important at present. ESG is essential for risk management. This project, which has started in Nepal, will help Nepali businesses prepare according to international standards," he said.
President Dhakal informed that although FNCCI had been working separately in the areas of environmental sustainability, social initiatives and good governance, it now plans to integrate these efforts through the ESG framework.
He also mentioned that FNCCI has positively taken the environmental and social risk management directive adopted by Nepal Rastra Bank, adding that the government’s amendment to more than 30 laws is expected to promote domestic and foreign investment.
Participants at the workshop were informed that a survey would identify the necessary training and capacity building programmes related to ESG.
FNCCI is also set to organise an ESG workshop in Koshi Province. The event, attended by stakeholders, private sector representatives, policymakers and international partners, emphasised the need to comprehensively integrate environmental, social and governance issues.
