BOST build's capacity of senior staff on ESG

Bulk Oil Storage and Transportation (BOST) has trained about twenty senior staff to enhance their knowledge of the fundamentals of Environmental, Social and Governance (ESG) to develop their capacity in their area of work.

Speaking to journalists during the ESG masterclass certificate programme, General Manager – Corporate Planning, Ato Amissah Wilson acknowledged the importance of ESG saying that it is very necessary for a company to be aware of how its dealings affect the country in terms of its environment, stakeholders and also the structures put in place to deliver objectives effectively.

Mr. Amissah Williams added that the reason for the training is not to only build capacity, but to build the brand of BOST to help dealings with stakeholders more effective since every stakeholder in a business looks out for reliable companies and also to make accessibility of funds much easier.

"BOST has some major projects to execute in 2024, and these projects would require funding potentially from donor funds and international funding institutions, but we to unlock these funds, ESG complaints of the company would be checked."

He indicated that the one-week programme has also educated them more on certain safety precautions like the tracking of environmental compliance on a regular basis.

"We deal in storage and transmission of fuel, therefore the need put in all necessary safety measures since any negative impacts on the environment would greatly affect not only the brand of the company but inhabitants as well," he noted.

Moving forward, the General manager said that BOST is going to put the ESG strategy together and out of it the company will have their ESG score card which would be monitored on a quarterly, monthly and annual basis.

"This is to make sure that the benchmarks that the company set is gradually being achieved."

Manager – Health, Safety and Environment, Kofi Owusu–Appiah also reiterated the importance of ESG in the activities of BOST saying that through ESG, the company is going to get a carbon footprint that would help measure the quantity of carbon it releases into the environment.

A member of ESG Partners Ghana and Center for Sustainable Development – Addis Ababa University, Dr. Felix Dwumfour explained that the ESG is a collection of corporate performance evaluation criteria which includes environmental, social and corporate governance issues and its ability to effectively manage its impacts.

Speaking on the training, he said the aim is to build the capacities of the trainees and help them to implement the techniques of ESG and monitor structures of ESG put in place for sustainability's sake.

He added that most institutions operating globally have not gotten to the stage to be referred to as ESG compliance noting that ESG Partners Ghana and Center for Sustainable Development – Addis Ababa University, are going to continue to work with any interested institution till they are able to build a solid system in the corporate organisation.

"This would help corporate institutions to benchmark what they are doing with other similar institutions and organisations outside the country."