THE President/Chairman of Council, Institute Of Chartered Secretaries And Administrators Of Nigeria, Bode Ayeku, has said it is important for companies to embrace sustainability principles anchored on responsible business conduct.
Ayeku made the statement in Lagos at the annual public lecture of the institute, with the theme ‘Sustainability beyond rhetoric as a corporate survival strategy’.
“So, rather than the obsession with rhetoric, it is imperative that companies develop and practice guidelines which encourage and enable businesses to go beyond basic compliance and embrace sustainability principles anchored on responsible business conduct as part of their operational ethos,” Ayeku said.
He noted that the challenges foisted by Covid-19 pandemic had exacerbated the problems of sustainability in many companies and industries, adding that the concept had become more relevant.
He said, “When we now say sustainability beyond rhetoric, what are we talking about? Nearly everyone will agree that the concept of sustainability is very vital not only for the present business operations, but for the future of human society as well.
“But in practice, how many organisations or people are really committed to the ideals of sustainability? So, when we say sustainability beyond rhetoric, we mean sustainability beyond mere words, beyond mere lip service, sustainability beyond mere box-ticking; a kind of ‘they say we should comply and we have complied’.
“We are talking of being genuinely committed to the principles and ideals of sustainability. It is when there is a genuine adherence to the principles of sustainability that it can serve as a corporate survival strategy.”
Ayeku described the concept of sustainability in corporate governance as very important.
“Failure to get sustainability right spells doom for any company and organisation,” he said.
