.png)
Zimbabwe has the opportunity to build a world-class Environmental, Social and Governance (ESG) framework by integrating its domestic reporting efforts with global best practices, according to Gabriela Ferolla, Founder and CEO of Seall Intelligence, an international ESG consultancy, Mining Zimbabwe can report.
By Rudairo Mapuranga
Speaking at an ESG Reporting Workshop hosted by Seall Intelligence in partnership with local sustainability firm EnvironEdge Consultancy, Ferolla praised Zimbabwe’s steps toward establishing ESG as a reporting standard — especially the move to make ESG disclosures mandatory for listed companies — and described them as aligned with international trends.
“The movement that Zimbabwe is making is in line with international practices,” Ferolla said. “Mandating ESG disclosures by listed companies can help create a more robust and transparent market ecosystem, making local firms more attractive to global investors.”
Ferolla noted that countries such as South Africa and Brazil have already begun mandating ESG disclosures in structured formats. South Africa, for example, requires integrated reporting that combines financial and non-financial disclosures. Brazil will require listed companies to begin reporting under IFRS S1 and S2 starting in 2026.
These frameworks, she said, allow for standardised comparison between companies and jurisdictions — a key requirement for large institutional investors who now routinely assess ESG performance before making capital allocations.
“When companies are able to report in a consistent way aligned with international frameworks, it enhances their fundability and increases their ability to deliver local impact,” she said.
Zimbabwe’s Position and Opportunities
Zimbabwe’s existing SI 134 of 2019, which mandates the use of IFRS S1 and S2, is seen as a foundational starting point, though Ferolla encouraged further development.
The proposal on the table is to consolidate Zimbabwe’s ESG approach by building a framework that, while anchored on SI 134, integrates elements from over 20 other globally recognised standards such as the GRI, IRMA, and the Task Force on Climate-related Financial Disclosures (TCFD). Ferolla said such alignment will strengthen Zimbabwean companies’ visibility and comparability in international markets.
Ferolla believes Zimbabwe can create a uniquely African ESG approach that respects local environmental, social, and governance realities while remaining compatible with international frameworks.
“Zimbabwe can benefit by building on what already exists locally,” she said. “There are standards here that already align with global ESG goals. The next step is to ensure that efforts from government, private sector, and even third-sector actors are integrated into a single framework.”
She stressed that establishing mandatory ESG reporting is only the first step. True impact will depend on creating a system that also supports compliance and encourages continuous improvement.
Building Local Capacity
One of the key takeaways from the workshop was the importance of ecosystem coordination. Ferolla noted that countries that succeed in ESG transformation start by setting a minimum regulatory requirement and then gradually strengthen the framework by developing local expertise, tools, and feedback systems.
She added that Zimbabwe could lead in developing reporting practices that speak to its unique industrial and cultural environment — for example, in how it treats informal mining operations such as artisanal or “Chikorokoza” mining. These could be included in ESG frameworks in a way that is locally relevant but still speaks the language of international investors.
“The aim is not just to tick boxes but to demonstrate real value and impact to the communities and the environment,” Ferolla explained.
ESG as a Bridge to Investment
Ferolla’s message echoes that of Zimbabwe’s Deputy Minister of Finance and Investment Promotion, David Mnangagwa, who told the same workshop that weak ESG reporting is costing Zimbabwe billions in investment opportunities.
“We want to make sure that when the adjudicators of the ticked boxes come to Zimbabwe, they will have confidence that our policy is being implemented and enforced well — and your reports actually mean something,” Mnangagwa said, as reported by Mining Zimbabwe.
He encouraged the private sector to submit input to the Ministry of Finance, which is currently developing a financial sector policy that could embed ESG reporting requirements more firmly into law.
Ferolla echoed this sentiment, urging all stakeholders to collaborate and build a “transparent, comparable, and integrated” ESG ecosystem. She said this would allow Zimbabwe to not only access global funding pools but also improve its domestic economic resilience.
“With the right structure, Zimbabwe can become an example of how local ESG efforts can be harmonised with global trends while still delivering impact at home,” she concluded.
