LESG reporting was established by AMMC circular no. 03/19 relating to financial operations and information, with the aim of better informing the market on the performance and extra-financial risks of issuers. The conference organized by the AMMC and IFC thus made it possible to share with the stakeholders concerned, in particular issuers, investors and professionals, the results of the assessment of ESG reporting over the period 2021-2023, carried out at using a compliance and reporting quality assessment tool, developed with assistance from IFC. It also made it possible to discuss their feedback with the participants as well as ways and prospects for improving the current framework.
The main findings In 2023, 94 issuers were subject to the obligation to publish an ESG report. Among them, three did not respect this requirement, thus bringing the application rate to 97%. Analysis of published reports shows a notable improvement in practices, both in terms of compliance and quality. The evolution of scores, when weighted by recourse to the market, reveals more marked progress.
CRegarding environmental information, 79% of issuers indicated that they had implemented actions to assess and minimize environmental impacts. Among them, 22% mentioned carrying out a carbon footprint, up from 14% in 2022. In terms of compliance, issuers presented quality information. For example, only 26% mentioned environmental litigation, but most said they had not encountered any environmental-related lawsuits or legal issues, with the exception of one issuer who specified the number of complaints per site. On a social level, training was the criterion most informed by issuers, who provided details on the themes covered and the budgets allocated.
The distribution of workforce by gender reached a compliance rate of 87%, while 80% of issuers reported workplace accidents, up from 76% in 2021. Regarding dismissals, resignations and recruitments, although the majority of issuers have communicated this information, it is not always broken down by category. In terms of governance, almost all issuers provided information on the composition of their Board of Directors, with 39% having provided details in accordance with the AMMC circular, compared to 35% in 2022. Concerning specialized committees, 21% of issuers declared having set up a committee dedicated to CSR, compared to 18% the previous year.
However, the board evaluation process remains to be improved, with only 24% of issuers having communicated on this subject, most mentioning using self-assessments. Finally, 78% of issuers reported actions implemented to fight corruption, in particular through the adoption of anti-corruption management systems (SMAC). Regarding parity on boards of directors, 27.6% of directors are women, a clear increase compared to 14.6% in 2019.
In addition, 52% of issuers now comply with the 30% quota obligation provided for by the law on public limited companies. However, 8% of issuers still have no female directors, a figure down from 21% recorded in 2021.
