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Professional path to sustainable practices

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By Usman Oladimeji

Governance profession future depends on embracing emerging changes.

To keep up with the latest developments and trends in the global governance workplace, corporate secretaries, registrars, and issuers have all been encouraged to leverage relevant resources such as technology and in-depth industry expertise. Stakeholders in the Nigeria governance system believe that professionals in the field can no longer function just only with the information and experience at their disposal. They justified their remark by citing international standards for professional excellence as their guiding concept.

This was announced by the stakeholders during this year’s Company Secretaries and Registrars’ event hosted by the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) / Institute of Capital Market Registrars (ICMR). They argued that the future of the governance profession depends on professionals embracing the changes that were inevitably emerging to the global governance workplace. Additionally, by using the techniques outlined above, they may be able to guarantee that the value of their contributions will increase.

Governance professionals must accept accountability.

According to Taiwo Owokalade, ICSAN’s president and chairman of the council, changes in the global workplace brought about by industrial reforms and innovations have necessitated the re-adaptation of professional skills to the new changes. He claims that the extent to which corporate organizations’ ideals and goals are realized corresponds to the likelihood that the emergent culture and practices of the global workplace will survive. Owokalade further reasoned that this was so because environmental and social issues had been embedded in the policy mainstreaming of firms and other entities, and sustainability meant a way of conducting business in which both profit and ethical impact mattered.

To this end, he noted that it is important to view the roles of corporate secretaries, registrars, and issuers within the context of current trends in the realm of global governance. The benefits and dynamics of these roles and responsibilities will become apparent, and recommendations for making them more effective, valuable, and sustainable will be made. Seyi Owoturo, President/Chairman of the Council of ICMR, has stated that governance professionals must accept accountability for the way in which they manage the wealth of others and interact with stakeholders.

Environmental responsibility grows in importance for corporations.

Owoturo added that sustainability goes beyond ethics to include the methods through which individuals and the entire workforce are educated to contribute to the expansion of an organization. Director-General of the Chartered Governance Institute in the UK Tim Sheehy spoke on the topic of “Sustainability and Global Governance Workplace: The Role of Corporate Secretaries, Registrars, and Issuers,” highlighting the responsibilities of governance professionals in creating a more conducive and productive workplace for all employees. He stressed the importance of culture in the work of governance professionals and urged businesses to prioritize an effective governance structure and resilient leadership.

Sheehy stated that organization’s secretaries and governance professionals may truly bring value to their firms by educating themselves on themes like ethical governance and artificial intelligence and by focusing on issues of fairness and justice. In addition, Peter Ashade, CEO of United Capital, provided an outline of sustainability based on its three pillars (environmental, social, and economic). He argued that, as environmental responsibility grows in importance for corporations, it is imperative that companies update their approaches to corporate governance accordingly.

Secretaries encounter difficulties trying to promote sustainability.

He further claimed that for the capital market to be sustainable, parties should work to ensure that it serves current demands without jeopardizing future generations’ resources. The contribution of company secretaries to sustainability was also discussed by CE Power Solutions Limited Executive Director. Cheta Nwabuike, the company’s Executive Director/Head, Legal Compliance (CE Power), described the difficulties secretaries encounter while trying to promote workplace sustainability. Some examples include competing priorities, a failure to fully comprehend the situation, a refusal to accept change, and an overall lack of dedication.

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