The Director-General/CEO of the Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, has emphasized the urgent need for companies to integrate climate-related risks into their sustainability disclosures.
Prof. Anosike made this call on Wednesday, August 20, during the 2nd Regulatory Roundtable on the Implementation of ISSB’s Sustainability Reporting Standards in Nigeria, organized by the Financial Reporting Council (FRC) of Nigeria.
In his goodwill message, the NiMet boss commended the leadership of the FRC under its Executive Secretary/CEO, Dr. Rabiu Olowo, for advancing Nigeria’s understanding of sustainability reporting amid growing climate challenges.
“In this era of climate change, sustainability reporting is evolving to place climate risk at its core, demanding greater transparency and accountability from companies regarding their climate-related impacts and strategies,” Anosike noted.
“Climate change poses both physical risks, such as extreme weather events, and transition risks, including policy changes and technological shifts, all of which can significantly affect a company’s financial performance and long-term viability.”
Prof. Anosike highlighted the difficulty organizations face in gathering and validating reliable data, stressing that quality information remains critical to credible disclosures. He assured that NiMet is ready to collaborate with the FRC and other stakeholders to expand access to climate data and support its integration into strategic decision-making across the economy.
The International Sustainability Standards Board (ISSB) framework provides guidance for companies to report across governance, strategy, risk management, metrics, and targets, with specific standards focused on climate-related risks and opportunities.
Nigeria is among 30 jurisdictions representing 57% of global GDP and over 50% of global greenhouse gas emissions that are adopting or preparing to implement ISSB Standards.
Also present at the roundtable were Dr. Ndidi Nnoli-Edozien, an ISSB Board Member, and other key stakeholders from the financial and sustainability sectors.
