Business

MBABANE - PricewaterhouseCoopers (PwC) and SNG Grant Thornton are supporting companies in Eswatini to navigate complex Environmental, Social and Governance (ESG) compliance requirements.

The support by the two local firms comes as businesses grapple with mounting regulatory, market and investor expectations.

This was among the findings of the Eswatini ESG State of Play Report, launched last Thursday by Business Eswatini (BE) in partnership with the International Labour Organisation (ILO). The report paints a comprehensive picture of how ESG principles are being understood and adopted by companies across the country. It highlights the growing urgency for businesses to embrace sustainability, good governance and ethical labour practices – not only to remain competitive globally, but also to ensure long-term operational resilience.

Although Eswatini currently lacks a formal, legally binding ESG framework, the report notes that global trends are quickly reshaping business expectations. The European Union’s Corporate Sustainability Reporting Directive (CSRD) and Africa-wide sustainability frameworks are pushing companies towards higher transparency and accountability.

Locally, the Eswatini Stock Exchange (ESE) has introduced voluntary ESG disclosure guidelines. However, compliance remains uneven, with only a few internationally linked companies fully aligning with standards such as the Global Reporting Initiative (GRI), the IFRS Sustainability Standards and Integrated Reporting Frameworks (IIRC).

“This lack of a binding national framework creates an uneven playing field,” the report states. “Export-oriented companies face stricter ESG demands from foreign buyers and financiers, while domestically oriented firms face minimal pressure beyond basic environmental and labour laws.”

For Eswatini’s economy, which relies heavily on agriculture, manufacturing and mining, the implications are far-reaching. These sectors face mounting scrutiny over deforestation, water pollution, labour practices and carbon emissions. Without proactive ESG adoption, the country risks losing market access, investment opportunities, and competitive advantage.

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Maloma Colliery among leading in ESG compliance efforts

MBABANE - Maloma Colliery is positively adhering to the Environmental, Social and Governance (ESG) requirements and contributing to Eswatini’s Nationally Determined Contributions (NDCs) under the Paris Agreement.

This was revealed in the Eswatini ESG State of Play Report launched by Business Eswatini (BE), which highlighted the growing role of local businesses in tackling climate change, improving governance and adopting socially responsible practices.

As the country’s commercial coal mining operation, Maloma Colliery operates in one of the most scrutinised industries for environmental and social impact.

Yet, according to the report, it has taken significant steps to align its operations with ESG principles.

These include the introduction of water recycling systems, post-mining land rehabilitation measures and energy efficiency initiatives aimed at reducing the company’s environmental footprint.

“For example, other mining companies in Eswatini, such as Maloma Colliery, have implemented measures to reduce their environmental footprint, including rehabilitation of shafts for energy efficiency, water recycling and reuse measures to minimise water consumption,” reads the report in part.

Eswatini’s NDCs commit the country to a 14 per cent reduction in greenhouse gas emissions by 2030. Maloma Colliery’s initiatives directly contribute to this goal by rehabilitating land, conserving water resources and preparing former mining sites for alternative economic activities.

*Full article available in our publication.

At the launch of the Eswatini ESG Report, Business Eswatini CEO Nathi Dlamini emphasised that ESG is not a passing trend, but the language of modern business and the foundation of sustainable prosperity for Eswatini. (Pic: Courtesy)