ESG Data Must Drive Business Decisions – ESG Expert
By: Solomon Nartey Tetteh
Group Head of ESG at Harley Reed, Cima Sholotan, has raised concerns about the quality and use of Environmental, Social and Governance (ESG) data among businesses, warning that weak data systems and a compliance-only approach are limiting the strategic value of ESG.
Speaking on Business Breakfast on Zed 101.9FM, Ms. Sholotan said many organisations still lack robust ESG data collection and management systems, making it difficult to integrate sustainability into core business decisions.
“ESG data and systems remain a major challenge. We do not have good enough data, and in many cases, we are not collecting the data properly,” she noted.
She stressed that forward-thinking companies must begin to treat ESG data in the same way they treat financial data, as structured, auditable and decision-ready information.
“ESG data should not be sitting in some system or platform somewhere. It must be used for business decisions,” she emphasised.
She added that sustainability information should actively inform strategy, risk management and long-term planning.
Ms. Sholotan identified three major gaps in how companies approach ESG. These include weak ESG data systems, viewing ESG merely as a compliance requirement, and confusion between ESG and Corporate Social Responsibility (CSR).
According to her, many organisations still conflate ESG with CSR activities, rather than recognising ESG as a governance and performance framework that cuts across operations, finance and strategy.
She also pointed to weak ESG planning at the board level as an emerging concern, although he acknowledged growing awareness among corporate boards.
“Boards these days are beginning to get a bit more aware,” he said.
In recent years, ESG (Environmental, Social and Governance) reporting has moved from voluntary disclosure to something that regulators and investors increasingly expect and, in many markets, mandate.
While Ghana does not yet have fully compulsory ESG laws for all companies, progress toward mandatory reporting is accelerating, especially for companies on the Ghana Stock Exchange (GSE).
A 2024/2025 survey by KPMG Ghana examined ESG reporting practices among companies listed on the Ghana Stock Exchange. It provides the clearest snapshot yet of where Ghanaian businesses stand.
About 52–53% of listed firms are reporting on sustainability or ESG matters either through their parent companies or as standalone disclosures.
