TEXT: -Prioritizing sustainability including climate action builds resilient businesses that create long-term stakeholders' value.

• Climate action creates new employment opportunities in sectors such as renewable energy, energy efficiency and sustainable agriculture.

• COP27 saw the launch of a new five-year work programme to promote climate technology solutions.

• DEI is critical to achieve the recognized global standards of performance and excellence.

• Professional accountants have a critical role in putting sustainability at the heart of decision-making, and in championing responsible practices.

Recommendations:

• Integration of sustainability in decision-making framework is crucial to thrive.

• Business ESG integration helps build public trust, enhance brand assets and contribute to sustainable development.

• All stakeholders (public & private) must create an integrated enabling economic framework.

• Policy makers, regulators and businesses need to partner and build long-term commitments to promote ESG awareness, capacity building and adoption of sustainability reporting best practices.

• Independent and diverse boards focus on "S" within ESG to promote gender equality.

Copyright Business Recorder, 2023