As sustainability reporting accelerates globally, organisations are under growing pressure to demonstrate that their disclosures are not only well intentioned, but credible, consistent and capable of independent assurance. For many, the question is no longer whether to report on sustainability, but how to build the infrastructure to do so well. Increasing regulatory expectations, investor scrutiny and stakeholder demands mean that sustainability information is now expected to exhibit the same level of rigour as financial information.
A key theme at ACCA’s 2025 Africa Members Convention, held in December in Mombasa, Kenya, was building sustainability reporting and assurance capability across the value chain. One of the panels explored what it takes to move beyond aspirational reporting towards disclosures that can withstand scrutiny from regulators, investors and assurance providers.
‘A “giving back to society” mindset is not the best approach’
The discussion highlighted a clear shift. Sustainability reporting is entering a new phase – one defined less by narrative and ambition, and more by systems, governance and assurance-readiness. Organisations are being challenged to demonstrate not just what they say about sustainability, but how that information is generated, controlled and verified.
Reporting rigour
The panellists made clear that sustainability reporting must now be viewed through the lens of assurance. With the adoption of IFRS S1 and S2, and the introduction of ISSA 5000, sustainability information is increasingly expected to meet standards comparable to those applied to financial reporting.
According to Innocent Okwuosa, chairman of the Nigeria Integrated Reporting Committee, credibility begins in the boardroom. ‘The very first beginning to ensuring quality sustainability reporting is to create awareness at board-level. If the board is not aware in the first instance, how can progress be made?’
Drawing on Nigeria’s experience as Africa’s earliest adopter of IFRS S1 (see the AB article ‘Nigeria’s sustainability reporting push’), Okwuosa explained that sustainability reporting is more than an extension of corporate social responsibility.
He also cautioned against approaching sustainability from a philanthropic lens. ‘If you approach sustainability from a “giving back to society” mindset, you have to make a profit first. That is starting on the wrong footing.’ Instead, sustainability reporting should reflect how organisations manage long-term risks and opportunities across multiple forms of capital. ‘Governance is no longer restricted to financial capital. It now includes natural, social and human capital.’
‘The risk is investing in tools before understanding what the standards require’
Digital infrastructure
Technology also featured prominently in the discussion, with panellists warning against treating digital platforms as the starting point for sustainability reporting. The risk, they argued, is investing in tools before understanding what the standards require and what information is material, leading to data overload rather than decision-useful reporting.
Rabecca Hichilo, managing director at Sustainable Impact Advisory in Zambia, emphasised the importance of a disciplined, standards-led approach. ‘Start with the standard, not the software. If you don’t understand what the standard requires, it’s easy to pick a platform without knowing whether it actually meets your reporting needs.’
She pointed out that many organisations already have the tools required for reporting. ‘You’re already paying for Excel, Microsoft and Power BI. Sustainability reporting doesn’t have to start with new systems – it should start with leveraging what you already have.’
Nor, as assurance expectations increase, does technology alone guarantee credibility. ‘A platform can help you tell the story, but when an auditor asks how your emissions were calculated, you must be comfortable with the methodology and governance behind the data.’
‘If you get the data wrong, the story will also be wrong’
Skills
Another key insight from the panel was that sustainability reporting cannot sit solely within finance functions, as much of the required data resides across operations, human resources, procurement and external partners. This requires new ways of working and stronger internal collaboration.
Mkombozi Karake FCCA, CEO of the Global Institute of Governance and Sustainability, described sustainability as an evolution rather than a disruption. ‘Sustainability is an additionality, not a disruptor. It builds on the skills we already have.’
He emphasised that accountants are well placed to act as integrators of sustainability information. ‘Sustainability is 70% data and 30% storytelling. If you get the data wrong, the story will also be wrong.’
As sustainability reporting becomes assurance-ready, the role of professional accountants continues to expand. Beyond technical knowledge, practitioners are increasingly required to exercise judgment, uphold ethics and explain qualitative disclosures with confidence.
Opportunity
Rodney Ndamba FCCA, CEO and founder of the Institute for Sustainability Africa, stressed the inevitability of sustainability. ‘Sustainability is here to stay. We can either co-exist with it, go along with it, or find another planet.’
‘The “Africa contributes only 4%” narrative misses the business opportunity’
He urged African organisations to seize the opportunity presented by sustainability reporting to strengthen access to capital, enhance competitiveness and support participation in global value chains. ‘Focusing on the “Africa contributes only 4%” narrative misses the business opportunity in sustainability.’
For organisations, the path forward is clear: embed sustainability oversight at board-level, anchor reporting in standards and materiality, prioritise data governance before technology, build capability across the value chain, and prepare early for assurance expectations.
The era of sustainability intent is giving way to one of assurance-readiness. The organisations that succeed will be those that invest not just in reporting, but in the infrastructure needed to prove it.
Africa Members Convention
ACCA’s Africa Members Convention 2025 took place in Mombasa, Kenya, in December, bringing together more than 700 members, regulators and other stakeholders from 30 countries in Africa and beyond. Under the theme ‘Leading an Evolved Profession for a Changed World’, discussions explored the part accountants can play as policy shapers and value creators, driving policies, regulations and standards in support of ethical and sustainable organisations and economies. Other sessions highlighted the profession’s role in advancing responsible practice, inclusive workplaces and global standards that strengthen trust and accountability. Key speakers included Allan Kilavuka, CEO of Kenya Airways; Evans Mulera, CEO of the Africa Professionalisation Initiative; Taiwo Oyedele FCCA, chairman of Nigeria’s Presidential Committee on Fiscal Policy and Tax Reform; Leonard Mkude, accountant general of Tanzania; and Melanie Proffitt FCCA, ACCA’s global president.
