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In the dynamic landscape of sustainable finance, the integration of Environmental, Social, and Governance (ESG) principles has become pivotal for businesses and investors alike. This blog post explores the core tenets of ESG and delves into transformative initiatives facilitated by Africa50. This blog will also introduce in detail a new ESG job in Africa headhunted by Africa’s executive talent search experts: CA Global Finance.
What is ESG?
Environmental, Social, and Governance (ESG) is a comprehensive framework employed by businesses and investors to evaluate and integrate key non-financial factors into decision-making processes. The “Environmental” aspect focuses on a company’s commitment to sustainable practices, including its impact on climate change, resource efficiency, and waste management. The “Social” dimension assesses a company’s relationships with its employees, communities, and broader societal impact, considering aspects such as diversity and inclusion, labor practices, and philanthropy. Lastly, the “Governance” component examines the internal structures and policies that guide a company’s leadership and operations, ensuring transparency, accountability, and ethical conduct. Embracing ESG principles is not merely a moral imperative but increasingly recognized as a strategic business imperative, as companies that prioritize ESG factors are often better positioned for long-term success, resilience, and positive societal contributions.
Who is Africa50?
Africa50 is a pan-African infrastructure investment platform established with the primary goal of addressing the continent’s infrastructure funding gap. The organization plays a pivotal role in bridging this gap by actively engaging in project development, mobilizing both public and private sector finance, and making strategic investments in infrastructure projects across Africa.
Africa50 seeks to foster sustainable economic growth, job creation, and an enhanced quality of life across the continent by strategically investing in infrastructure. This commitment extends to preserving natural resources for future generations and generating value for shareholders. We firmly believe that a robust Environmental, Social, and Governance (ESG) proposition is fundamental for creating value. It establishes the groundwork for sustainable investment practices, secures ongoing support from governments and communities, and facilitates access to investment capital and partnerships on a global level. This holistic approach positions Africa50 favorably for sustained profitability and impactful contributions over the long term.
Climate Change & Africa50
Climate change poses immense challenges on Africa’s development, including food insecurity, population displacement, water scarcity, and threats to socio-economic development. While acknowledging the significant risks posed by climate change, the imperative for substantial new investments in mitigating, adapting to, and building resilience against its effects presents an opportunity for our African country shareholders. This opportunity extends beyond addressing climate challenges to driving sustainable economic development and diversification through the establishment of novel economic value chains and industries.
Recognizing the scale of the task ahead in addressing climate change, African countries must actively engage and leverage increased involvement from the private sector. Africa50 is committed to catalyzing private sector funding, aiming to seize the opportunities arising from the low-carbon transition in various infrastructure-linked sectors such as transport and logistics, ICT, midstream gas, healthcare, fintech, and power. By promoting efficiency, fostering innovation, and stimulating growth, Africa50 endeavours to facilitate the continent’s expedited transition to a Net-Zero future.
To read more about Africa50’s position on and approach to both climate change challenges and opportunities you can review their Climate Change Guiding Principles.
CA Global Finance in Partnership with Africa50
At CA Global Finance, the leading recruitment firm in Africa, we are proud to be assisting Africa50 in their talent search to fulfill vital roles such as ESG, Climate and Sustainability Director. With our team of professionals’ proven search techniques and strict quality control procedures, as well as our expert knowledge of the African market; we are confident that the right candidate will be placed in no time.
To review the vacancy of ESG, Climate and Sustainability Director you can visit our job board or continue reading below:
Director, ESG, Climate and Sustainability – Africa50
Reference Number: JA-015
Supporting Management and investment teams, the ESG, Climate and Sustainability Director will have the following responsibilities:
Responsibilities:
- Overseeing ESG Management System implementation and ensuring that the ESG Manual and Policy are reviewed on a three-year basis in line with emerging trends.
- Driving the implementation of Africa50’s Climate Guiding Principles and ensuring that we have an efficient system to monitor and measure the execution of any climate-related actions.
- Overseeing the execution of the Development Impact framework and the building of a track record stemming from both Africa50 and our portfolio companies and institutional actions
- Coordinating engagement with internal and external stakeholders where required, including the implementation of stakeholder engagement plans, information packs, thought leadership pieces, attending speaking engagements, and developing relationships with investors, NGO and civil society organisations, development finance institutions, and industry bodies.
- In conjunction with the Senior Director Strategy and Investor Relations, identify potential new investors and build investor relationships, as well as representing Africa50 in meetings/presentations with/to prospective and existing investors.
- Support the fundraising efforts by:
- Building the narrative for securing “green capital” and targeting investors that are sensitive to climate and sustainability.
- Collecting market intelligence and seeking to expand the set of potential shareholder/investor relationships.
- Overall responsibility and management of Africa50’s Corporate Social Responsibility program
- Responsibility for Africa50’s internal climate impact monitoring and measurement per the Climate Guiding Principles
- Ensuring implementation and monitoring of efficient data gathering processes for the measuring and monitoring of ESG, Climate and Sustainability to ensure relevant reporting.
- Overseeing the on-going monitoring and measurement of ESG, Climate and Sustainability metrics by appointed ESG internal and/or external officers and lead and support investment professionals who have been assigned ESG duties.
- Overseeing and supporting site visits to portfolio companies including on-site audits, monitoring and evaluation activities, provision of support and training, assessing progress and providing support on implementation of prescribed corrective actions, and reviewing post site visit reports
- Undertaking assessments of project lead sponsors’ ESG capability (where the lead sponsor is not Africa50) and advising the Africa50 investment teams as appropriate on areas of sponsor weakness that require corrective action in order to ensure alignment with the ESG Management System
- Supporting the Africa50 investment teams in their engagement with sponsors, portfolio companies, and other relevant project stakeholders, to encourage and guide all relevant project stakeholders towards achievement of ESG, Climate and Sustainability standards that align with Africa50’s standards.
- Overseeing the appointment and management of third-party consultants for complex ESG due diligence and/ or monitoring (i.e. for Category A and selected Category B investment opportunities)
- Assisting with the scoping of complex ESG due diligence and/ or monitoring exercises (i.e. for Category A and selected Category B investment opportunities)
- Reviewing and signing-off on ESG DDs for Category A (High) and B (Medium) investment opportunities
- Contributing to the evaluation of investment proposals, including via investment committee papers and meetings
- Supporting in negotiations with underlying investments to ensure that ESG, Climate and Sustainability rights are embedded in legal agreements, including relevant action plans (where appropriate)
- Ensuring effective monitoring of portfolio company compliance with the internal ESG, Climate and Sustainability requirements and policies, including the implementation of agreed action plans or management plans
- Responding to significant ESG, Climate and Sustainability incidents arising at portfolio companies and ensuring that Africa50 Executive Management and relevant stakeholders are informed of such significant incidents, as appropriate and in a timely manner.
- Overseeing disclosure of key ESG, Climate and Sustainability information to relevant internal and external stakeholders, including the Africa50 Board and its subcommittees
- Driving internal ESG, Climate and Sustainability skills development and capacity building of Board Directors, deal executives, investment professionals and lead sponsors through internal and external training
- Collation and compilation of Sustainability, Climate and ESG Reports as and when required for the Africa50 shareholders.
Candidate Profile:
Essential Qualifications & Experience
- Minimum of a bachelor’s degree in a relevant discipline.
- A minimum of 15 years’ experience in Environment, Sustainability and Governance, Climate and Sustainability fields in Africa and/or other Emerging Markets
- Experience within a relevant finance institution or public/private organisation in the financial services industry (e.g., PE, DFI, multilateral, sovereign wealth fund, professional services firm), of which at least seven years will be at a senior management level.
- Connection to Africa and intent to pursue an Africa-focused career
Location:
- Casablanca, Morocco (Hybrid)
If you wish to apply for the position, please send your CV to our CA Global Finance recruitment consultant Jamie Adams at jadams@caglobalint.com .
CA Global will respond to short-listed candidates only. If you have not had any response in two weeks, please consider your application unsuccessful however your CV will be kept on our database for any other suitable positions.
Please feel free to visit www.caglobalint.com for more exciting opportunities.