The Mauritius Institute of Directors (MIoD), in collaboration with CareEdge Ratings Africa, organised the second edition of the ESG Summit at the Ravenala Attitude Hotel in Balaclava in January. This summit played a crucial role in promoting Environmental, Social, and Governance (ESG) principles within the Mauritian business community. Among the attendees was Ravin Dajee, Managing Director at Absa Mauritius, who actively participated in a panel discussion themed “Financing mechanisms for achieving Net Zero 2030.”
Ravin discussed pivotal topics shaping the future of sustainable finance in Mauritius and Africa. Among the subjects highlighted were Absa’s participation in COP 28 and crucial themes such as 'greening the financial system' and 'circular economy approaches to low carbon transition.’ “Setting ambitious long-term net zero goals is crucial, but it's the proactive measures we take today that truly drive sustainable progress forward and create impactful outcomes. It’s key to focus on mobilising resources to tackle the impact of climate on an island like Mauritius, given its vulnerability to climatic shocks. There is an urgency to improve climate resilience and adaptation to address both social and economic challenges posed by natural hazards, such as flooding, beach erosion and rising sea levels which directly impact key sectors like hospitality and the economy as a whole.”
“Simultaneously, it’s crucial for banks to recognise the pivotal role they play in advancing social development and align their operations with best practices to support the transition to a low carbon economy and societal concerns such as poverty. By integrating these efforts, we can forge a path towards a more sustainable and equitable future.”
He also underscored Africa's environmental reality, advocating for a balanced climate strategy and emphasising the importance of considering social impact and sustainable development, highlighting their interconnectedness with environmental challenges and community well-being. By integrating these factors, we can effectively tackle climate change, uplift communities, and enhance resilience.
Additionally, Ravin tackled the challenges confronting banks in closing the funding gap for sustainable projects. He underscored Absa’s commitment to increasing awareness, providing customised financial solutions, and having the right regulatory frameworks.
Through its involvement in events like the ESG Summit, Absa reaffirms its commitment to promoting sustainable business practices and contributing to a more resilient and prosperous future for Mauritius and within the continent. As a leading financial institution, the bank recognises the integral role it plays in advancing the ESG agenda and remains dedicated to driving positive change within the Mauritian business community.
