GreenCo Partners with RI to Offer ESG Rating to NSE-listed Firms

As investor interest and activity increase globally, Environmental, Social, and Corporate Governance (ESG) reporting is picking up steam in Kenya and East Africa.

In order to give access to ESG ratings, Risk Insight (RI) has partnered with GreenCo ESG Consultants (GEC), an emerging ESG advisory firm in Kenya.

They will also provide Nairobi Securities Exchange (NSE) listed firms with disclosure information and strategic business intelligence services.

This collaboration will help NSE advance the ESG movement and sustainability in Kenya.

To help listed companies improve their sustainability reporting across their ESG pillars, GEC will offer strategic business intelligence and ESG consultancy services.

Irene Keino, CEO of GEC, claims that this alliance is timely since more firms are becoming interested as ESG disclosure frameworks are improved globally.

“It is indeed a great moment for the country to have NSE drive the ESG initiative for the national economy as well as the government’s commitment to climate change and sustainability,” Keino said.

Andrey Bogdanov, CEO of RI, stated that the firm is glad to work with the woman-owned company GEC to advance the sustainability agenda in Kenya and beyond utilizing ESG GPS, the continent’s first AI-pioneered and internationally recognized award-winning solution.

On his part, Geoffrey Odundo, CEO of NSE, commended the two firms for their collaboration in advancing ESG and sustainability in Kenya.

The shift to more thorough ESG disclosure involves the NSE strategically.

“As an Exchange, we enable economic growth and development by facilitating the mobilisation of financial resources and bringing together those who need capital to innovate and grow with those who have resources to invest,” Odundo said.

He claimed that only in a setting that is safe, open, and egalitarian could this be accomplished.

Firms are under increasing pressure to enhance and record their ESG performance.

ESG business services spending is predicted to increase to $158 billion in 2025, with a five-year compound annual growth rate (CAGR) of 32.3%, according to a new forecast from International Data Corporation (IDC).