Control consumption of natural resources, organizations told
Potential: The mining sub-sector has the potential to generate at Shs70.2b annually. FILE PHOTO
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Stakeholders demand a more comprehensive view of a company’s impact on the environment.
Corporate organizations in the country have been told to make deliberate efforts to control the consumption of natural resources while minimizing the impact of emissions.
This call comes at a time when global emissions in 2023 stood at 51 percent and currently has grown by 1.3 percent and the world is heating up very fast.
This call was made by Ms Josephine Okui Ossiya, President of Institute of Public Accountants Uganda ICPAU during the 14th FIRE awards.
“They must protect the well-being of their people and apply universal accepted corporate governance practices,” she said on Saturday.
According to her, stakeholders today demand a more comprehensive view of a company’s impact not just in financial terms but across environmental sustainable, social inclusions and governance practices.
She said, with the global focus on sustainable development goals, organizations must align with practices that support both economic progress and social responsibility.
Ms Ossiya added that the results of these actions must be documented which implies that sound environmental social and governance policies and practices must be in place.
She said, the financial reporting landscape has evolved significantly from initial presentation of annual reports which purely of comprised financial statements to relevant integrated reporting which requires organizations to disclose all material information.
Minister for Works and Transport Gen Edward Katumba Wamala said, the groundbreaking Standard Gauge Railway construction will take place within three weeks at Tororo District.
“Government recently signed a construction agreement with a Turkish firm to construct the standard gauge railway line from Malaba and the progress has been moving well,”” he said.
He added that, they are receiving the bidding document from the contractor this month and by December the consortium will start work on the long awaited project.
Mr Wamala noted that Kabalega international airport in Hoima district is 98 percent complete and they are expanding Entebbe international airport as Kampala-Jinja express high construction is set to start soon.
