ZICA Flags Major Gaps in Corporate Sustainability Readiness

By Pauline Ngozoh

A recent survey has revealed significant gaps in how Zambian organizations are preparing for sustainability reporting requirements.

According to findings highlighted by the Zambia Institute of Chartered Accountants, only 36 percent of organizations have clearly documented responsibilities for sustainability, while 43 percent lack formal data controls to manage related information. The report indicates that many companies remain at the awareness stage when it comes to key IFRS sustainability standards.

The assessment further points to weaknesses in critical areas needed for credible reporting. Organizations are lagging in conducting scenario analysis, measuring scope 3 emissions, and financially qualifying the impacts of sustainability issues on business performance. These gaps suggest that most entities are not yet equipped to meet emerging disclosure expectations or to integrate sustainability into financial decision-making.

ZICA says the results underscore the urgent need for capacity building and stronger governance structures around sustainability. The Institute has called for improved data systems, clearer accountability frameworks, and targeted training to help organizations transition from awareness to implementation. The full discussion is available on ZICA’s platforms as part of efforts to guide businesses ahead of new reporting requirements.