Economic growth, environmental protection must co-exist – Swiss Ambassador

By Ernest Bako WUBONTO

The Swiss Ambassador to Ghana, Simone Giger, has emphasised a need to balance economic growth with environmental protection – stressing that both aspects are equally vital for sustainable development.

She underscored the crucial role Environmental, Social and Governance (ESG) principles play in harnessing natural resources for sustainable prosperity, indicating that they can be replenished without harming the environment.

Speaking as special guest at the 25^th anniversary and sixth Institute of Directors-Ghana (IoD-GH) Corporate Governance Excellence Awards launch, she stressed that the pursuit of economic growth must not come at the expense of environmental degradation.

The ambassador reiterated that it’s imperative for the business community to prioritise environmental protection and sustainable practices to ensure a liveable future for generations to come.

Her call comes at a critical juncture as the world, especially Africa, grapples with climate change effects, biodiversity loss and economic uncertainty. This call to action echoes the United Nations’ Sustainable Development Goals (SDGs), specifically Goal eight – Decent Work and Economic Growth; SDG three – good health and well-being; SGD six – clean water and sanitation; and Goal 13 – Climate Action. The SDGs recognise the interconnectedness of economic growth, social inclusion and environmental sustainability.

She argued that by embracing renewable energy, sustainable agriculture and responsible resource management, Ghana can create jobs, stimulate innovation and protect its environment.

“Environmental, social and governance (ESG) principles offer a brighter framework for businesses to safeguard natural resources, protect communities and ensure sustainability. Switzerland’s experience has shown that economic growth and environmental sustainability can co-exist. Not only co-exist but also bring about prosperity and environmental health.

“I am firmly convinced that Ghana holds similar potential, but it would take a collaborative effort from all sectors and stakeholders to build the desired sustainable ecosystem,” she said.

She charged the IoD-GH to consider that as they celebrate good corporate governance, it’s important to identify the role they play in driving change to responsible practices, investment in sustainable technologies and adherence to environmental standards.

“Profitability can co-exist with ethical leadership, sustainability and dedication to environmental sustainability,” she reiterated.

As long-standing bilateral trade partner of Ghana, the Swiss ambassador assured of her government’s commitment to supporting Ghana’s sustainable development journey. “Together, we can build a resilient, prosperous and environmentally conscious future,” she concluded.

Chairperson-IoD-GH 25^th Anniversary Planning Committee, Michael Justice Ashong, touching on the association’s journey so far, mentioned that the commemoration themed ‘Environmental, Social and Governance (ESG) Reporting, Essential Layers of Corporate Governance and Sustainable Growth’ reiterates a need for the corporate community to be more concerned about ESG and good corporate governance practices now more than ever – as issues such as galamsey and climate change are increasingly becoming threats to society.

Some key winners at the awards include: the Driver and Vehicle Licencing Authority (DVLA) – Transportation Sector Corporate Governance and Sustainable Growth (CGSG) of the Year; Goil PLC – Oil Marketing CGSG; UPSA – Education sector CGSG; Bulk Energy Storage and Transportation (BOST) – Petroleum Refining and Relations; and Metropolitan Life Insurance Ghana – Life Insurance category, among other individual and corporate awards.

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