Webinar Date: 30th May 2023 (10 a.m. to 12 p.m.)

Registration

Sustainable finance and responsible business practice has been rising on the corporate agenda in recent years. This movement towards conscious efforts into sustainability has been driven by the various global conventions and goals such as the Sustainable Development Goals (SDGs), Paris Agreement and country specific sustainability commitments. The Government of Maldives has been a strong advocate of sustainable development, with a particular focus on climate action both nationally and globally. As such, The Government of Maldives over the years has committed to various Environmental, Social and Governance targets including the goals mentioned in Maldives National Determined Contributions (NDCs), and the Gender Equality Action Plan. Achieving these national ambitions requires the private sector, financial actors, and regulators to play a critical role in tandem with efforts of the Government. 

With the rise in the sustainability agenda much effort has been put into standardizing the definitions, measurement, and reporting of ESG business activities. Further to mere reporting, standards, especially in Europe but also across the world, are devising ways to incentivize more corporate practices in response to the sustainability goals, coupled with growing investor interests are influencing relative investment, business, and asset values. Introducing the concept and standards of sustainable financing and responsible business will encourage environmentally and socially positive private sector growth in the country. 

(CMDA) in Maldives revised its Corporate Governance Code in 2021, which requires listed companies to report its corporate social responsibility activities in the Maldives. Corporates are mandated to formulate and disclose its ‘sustainability policy’, that envisions deeper understanding of corporate performance, strategy, and ability to maintain and improve future performance on sustainability through a creditable and measurable way of disclosure and communication. This fast-evolving landscape presents business and corporate leaders with a challenge in new and emerging markets like the Maldives. They may be newcomers to this evolution. Not only do they have to track regulatory developments, but also, they must understand the standardization of sustainability reporting and commit to put accountable disclosure in practice to counter greenwashing.

In this context, UNDP and CMDA is co-hosting an introductory webinar to relevant stakeholders to introduce the concept and good practices of corporate ESG reporting and sustainability impact management, and to grow momentum among the corporate sector of the Maldives, with the objective to continue learning skills and building capacities to mainstream and integrate sustainability into business activities. The webinar will: