HARARE – Listed corporations in Zimbabwe at the moment are required to submit obligatory sustainability experiences for monetary years commencing on or after January 1, 2024, in line with a joint regulatory assertion issued by the Public Accountants and Auditors Board (PAAB), the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX).
However, the implementation of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, particularly IFRS S1 and IFRS S2, has been deferred.
The regulatory our bodies introduced on February 12, 2025, that the requirement for sustainability reporting is according to Statutory Instrument 134 of 2019 (Securities and Exchange (Zimbabwe Stock Exchange Listings Requirements) Rules, 2019), ZSE Practice Note 16, and VFEX Practice Note 2.
The laws mandate listed entities to arrange and submit sustainability experiences that guarantee transparency, accountability, and efficient communication of sustainability-related data to stakeholders, as outlined in part 399 of Statutory Instrument 134 of 2019.
“Listed entities ought to put together and submit their sustainability experiences primarily based on part 399 of Statutory Instrument 134 of 2019, ZSE Practice Note 16 and VFEX Practice Note 2.
“The sustainability reports should ensure transparency, accountability, and the effective communication of sustainability-related information to stakeholders,” the regulators said.
Despite Zimbabwe’s adoption of the IFRS Sustainability Disclosure Standards in November 2022, the PAAB clarified that the implementation of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) just isn’t obligatory at the moment.
The PAAB is at the moment growing an implementation roadmap for these requirements, with additional steering to be offered sooner or later.
The joint assertion additional said that whereas the submission of sustainability experiences is obligatory for all listed entities, the peace of mind of those experiences just isn’t at the moment required.
The PAAB, ZSE, and VFEX urged all listed entities to adjust to the brand new necessities and to hunt clarification from the related regulatory authorities as wanted.
This transfer, in line with the regulators, goals to boost company transparency and accountability concerning environmental, social and governance (ESG) components throughout the Zimbabwean market.
