Ernst and Young (EY), a prominent accounting firm, is urging businesses to adopt prudent and value-based measures to address environmental risks associated with their operations.
According to the accounting firm, sustainability has emerged as a powerful force driving operational strategies. EY emphasizes that integrating sustainability into core operations is not only a responsible approach but also essential for maintaining competitiveness in today’s business environment.
This was highlighted during a Sustainability Forum organized by EY for Ghanaian businesses, where Emmanuel Adekahlor, the Country Managing Partner for EY Ghana, underscored the significance of aligning business practices with sustainability principles to foster economic growth.
“Sustainability is no longer a password; it is now a potent force in the business world. To navigate this landscape, we need a specialized skill set, we need training that allows us to identify risk and develop corresponding mitigating plans to promote sustainable growth,” Mr. Adekahlor said.
During the event, Seth Mahu, the Director of Renewable Energy at the Ministry of Energy, speaking on behalf of Deputy Minister Herbert Krappa, emphasized the government’s commitment to supporting businesses in their transition to zero emissions.
“We have rolled out smart initiatives to ensure that the business environment remains green, robust, and competitive in the face of the global threat of non-climate-friendly goods and services from the overexploitation of finite natural resources, which leads to resource depletion,” he noted.
For his part, the Acting Director of the Climate Change Unit at the Environmental Protection Agency (EPA), Dr. Daniel Benefoh, also urged companies to remain true to their net-zero commitment while he encouraged them to enhance their innovative capacities.
The call for sustainable practices reflects a growing recognition of the critical role businesses play in environmental stewardship and economic development. EY’s advocacy for sustainability underscores the importance of businesses embracing responsible practices to navigate the evolving business landscape successfully.
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