Risk Insights ESG GPS Sustainable Newsletter
DEAR VALUED RISK INSIGHTS™/ ESG GPS™ SUBSCRIBER,
Welcome to the April edition of Risk Insights’ (“RI”) Monthly Sustainable Newsletter! As we progress through 2025, we’re excited to share the latest developments in our sustainability journey. This month, we continue to drive impactful initiatives advancing Sustainability across Africa and beyond, showcasing key milestones, insights, and opportunities for meaningful change. We also have included a special Risk Article section with contributions from thought leaders. A quote from our Founder "At RI we are not shaken by the storms of resistance in ESG because Risk Insights was planted with purpose, and our roots run deep in the soil of integrity, science, and Africa’s future", we are here to support ESG and its communities.
In this edition, we reflect on March’s key highlights, impactful events, and thought leadership contributions, including:
- We’re thrilled to introduce our brand-new Risk Article Section in the newsletter. In this edition Vidya Sanooj, the Head of Corporate Affairs from Choppies in Botswana shares the company’s 30-year commitment to shared value and sustainability. Anushka Bogdanov our founder provides a succinct view in her article on Risk Management and ESG while Asmaani Shukla an LSE MSc student in Development Studies and an Africa Summit volunteer spotlighted a piece on Risk Insights from the LSE Africa Summit. Her Blog Rethinking Risk and Regulation for Africa is timely for the continent. This is a great opportunity for the ESG communities to reach out to Risk Insights and share an ESG opinion or insights to be showcased to our ESG orbit.
- Risk Insights has been appointed to the B20 Task Force on Energy Mix and Just Transition under South Africa’s G20 presidency in 2025, contributing to global policy recommendations on clean energy, energy security, and climate resilience.
- Global Leadership in Turmoil: Power, Climate, and Africa’s New Dawn. This episode explores the global leadership gap and climate injustice driven by U.S. policy shifts, highlighting its impact on the continent’s potential to lead through transparency, equity, and self-governance.
- Kick Advisory Services and Risk Insights have joined forces to champion sustainable development and drive the integration of Environmental, Social, and Governance (ESG) principles.
- Risk Insights participated as a Supporting Organisation at the G20 Sustainability Forum, held on 27–28 March 2025 in Johannesburg. Co-hosted by CASI, IFS, and SARB, the forum brought together global and African leaders to advance sustainable finance.
- 3rd party news: companies plan shift to Green Energy despite Trump-era rollbacks, survey shows
- Risk Insights is proud to be featured in the IRMSA Risk Radar Volume 1 Newsletter, recognized as us a key collaborator in advancing governance, transparency, and risk intelligence locally and globally.
- Trump’s Tariffs & Africa’s Resilience: Who Really Holds the Power? ESG Matters with Risk Insights: Unpacks Trump’s tariffs and rising economic nationalism, highlighting impacts on global trade, emerging markets, and Africa’s path to sustainable, self-driven growth.
- 3rd party news: ESG Investor - Schroders Issues Climate Resilience Stewardship Framework, US SEC Green Light for Green Impact Exchange and much more, why pause in U.S. anti-corruption enforcement will hurt mining firms, not help them.
- Risk Insights was proud to once again sponsor the 11th LSE Africa Summit, reaffirming its commitment to promoting sustainability, resilience, and inclusive growth across Africa.
- Risk Insights CEO Andrey Bogdanov appointed to IRMSA’s Risk Intelligence Committee, alongside a new strategic partnership with IRMSA to advance ESG education, awareness, and risk intelligence across Africa.
- Looking ahead, Risk Insights is proud to continue its contribution into several key sustainability events in 2025, including the Botho University BUIRC Conference, the Arab Federation of Capital Markets Annual Conference, and the Africa Financial Inclusion Summit in Johannesburg.
Stay connected as we continue driving ESG excellence, risk intelligence, and sustainable impact across Africa and beyond.
Risk Insights has been appointed to B20 Energy Mix and Just Transition Task Force
Risk Insights has been appointed to the Business 20 (B20) Task Force on Energy Mix and Just Transition under South Africa’s G20 presidency in 2025. This Task Force aims to develop actionable policy recommendations to accelerate renewable energy adoption, enhance energy security, foster innovation in green technologies, and support global climate resilience efforts.
Global Leadership in Turmoil: Power, Climate, and Africa’s New Dawn
In this episode of the ESG Matters with Risk Insights Podcast, Anushka unpacks the global leadership vacuum, climate injustice, and economic volatility triggered by US policy shifts. From environmental rollbacks and market destabilization to the suspension of anti-bribery laws, the podcast explores how these actions have weakened global trust and accountability. With Africa disproportionately impacted yet rich in critical resources, the conversation turns to how the continent can redefine its role leading with transparency, equity, and self-determined governance. Tune in for key insights on reclaiming power and rewriting the global playbook. Subscribe, share, and stay engaged in the ESG dialogue.
Risk Insights Collaborates with the Kick Advisory Services to Advance the Integration of ESG principles across Mauritius
Kick Advisory Services and Risk Insights have joined forces to champion sustainable development and drive the integration of Environmental, Social, and Governance (ESG) principles across Mauritius! This strategic collaboration leverages the power of ESG GPS™ data tools, enabling businesses to strengthen their ESG strategies, improve performance, and enhance reporting with expert guidance with Kick Advisory Services. In an era where actionable ESG insights are more critical than ever, this partnership equips businesses with the tools and expertise needed to navigate the rapidly evolving sustainability landscape. By providing data-driven solutions, we empower companies to make informed decisions, meet regulatory requirements, attract sustainable investments, and drive long-term impact. Together, Risk Insights and Kick Advisory Services are committed to fostering a resilient and sustainable economy in Mauritius one where ESG excellence fuels growth, innovation, and responsible business practices.
Risk Insights CEO appointed as a member of the IRMSA Risk Intelligence Committee
Risk Insights, a leader in AI-powered ESG data and ratings solutions, has announced the appointment of its CEO, Andrey Bogdanov, to the Risk Intelligence Committee of the Institute of Risk Management South Africa (IRMSA). This appointment highlights the company's commitment to advancing ESG risk intelligence, sustainability, and resilient business practices across Africa and globally. Risk Insights and IRMSA have established a strategic partnership aimed at enhancing ESG education and awareness among risk professionals. The collaboration includes initiatives such as lectures, webinars, research, content development, and the creation of ESG-focused curricula and training programmes. Together, these developments strengthen Risk Insights’ leadership in sustainability analytics and reflect a shared mission to embed ESG principles into risk management frameworks across the continent.
Risk Insights shared Insights at the G20 Agenda Event: Africa Sustainability Forum
Risk Insights participated in the G20 Agenda Sustainability Forum on 27 March in Johannesburg. The forum, themed “Harnessing Sustainable Finance Potentials in Africa: Opportunities, Challenges, and Actions,” served as a high-level platform for dialogue on advancing sustainable finance across the continent. The event gathered over 250 participants, including senior policymakers, financial sector authorities, institutional investors, and sustainability experts, to engage in in-depth discussions and knowledge exchange. Topics explored included the development of enabling policy environments, harmonisation of sustainability reporting standards, strategies for accelerating the energy transition, innovative blended finance structures, carbon pricing mechanisms, and frameworks for building climate resilience. The forum was co-organised by the Capacity-building Alliance of Sustainable Investment (CASI), the South African Reserve Bank (SARB), the National Treasury, and the United Nations Conference on Trade and Development (UNCTAD). WWF contributed as the Knowledge Partner, with Risk Insights recognised as a Supporting Organisation.
Risk Insights will be sharing our insights at the 2nd Annual Africa Financial Inclusion Summit & Expo, don’t miss out join the event
Kunaal Kalyan our Executive Director is pleased to confirm his participation as a speaker at the upcoming Africa Financial Inclusion Summit & Expo, scheduled to take place in Johannesburg, South Africa 29-30 May 2025. This flagship event will convene key stakeholders across the financial services ecosystem including regulators, policymakers, fintech innovators, and industry leaders to address persistent barriers to financial inclusion across the continent. Held under the theme “Accelerating Financial Inclusion for Socio-Economic Development in Africa,” the summit will focus on high-impact areas such as digital transformation, financial literacy, inclusive credit mechanisms, and the integration of sustainable finance principles.
Risk Insights Featured in IRMSA Risk Radar
Risk Insights was featured in the IRMSA Risk Radar Volume 1, highlighted as a key collaborator in advancing governance, transparency, and risk intelligence. This recognition reflects our ongoing commitment to meaningful partnerships that drive positive impact across the risk management profession, both in South Africa and globally.
Trump’s Tariffs & Africa’s Resilience: Who Really Holds the Power?
In this episode of our podcast ESG Matters with Risk Insights, Anushka delves into the global power shifts sparked by President Trump’s sweeping tariffs, signalling a rise in economic nationalism and the use of trade as a political weapon. As Global South markets bear the brunt of rising costs and disrupted trade, the conversation explores how the continent can flip the script by investing in local industry, regional unity, and sustainable innovation. Drawing parallels between global trade tactics and corporate bullying, the episode challenges power imbalances and calls for ESG-aligned leadership rooted in collaboration, resilience, and bold, future-shaping action. Tune in for a fresh perspective on global dynamics and Africa’s opportunity to lead. Subscribe, share, and stay part of the ESG conversation.
Risk Insights to has been invited to moderate a panel and deliver a research paper at the Botho University BUIRC Conference 2025
Risk Insights is honoured to participate in the Botswana International University of Science and Technology Research Conference (BUIRC) 2025, taking place 12- 13 June 2025. Themed “Building Sustainable Futures through Research, Innovations, Strategies, and Partnerships,” this impactful event brings together researchers, academics, industry experts, and policy makers from across the world. BUIRC 2025 serves as a dynamic platform for fostering interdisciplinary collaboration, showcasing cutting-edge research, and promoting strategic partnerships that contribute to the continent’s innovation and knowledge economy. Risk Insights is proud to be part of this vital dialogue shaping Africa’s future.
Risk Insights has been invited to share ESG insights and the ESG GPS Tool performance at the Arab Federation of Capital Markets (AFCM) Annual Conference in May 2025
Risk Insights is honoured to participate as a keynote address at the Arab Federation of Capital Markets (AFCM) Annual Conference 2025, taking place on 13–14 May. Hosted by the Tunis Stock Exchange (TSE), this high-profile event will bring together capital markets stakeholders, financial regulators, institutional investors, and thought leaders from across the Arab region and beyond. The conference serves as a pivotal platform for advancing dialogue on the transformation and modernization of capital markets, exploring emerging trends, regulatory developments, digital innovation, sustainability integration, and regional collaboration.
Risk Insights sponsored the London School of Economics Africa Summit in London 2025
Risk Insights was proud to return as a main sponsor of the 11th LSE Africa Summit, held in 2025 at the London School of Economics and Political Science. As Europe’s premier Africa-focused conference, the event convened over 300 leaders from academia, industry, and policy to explore the theme Securing Africa’s Future: Promoting Resilience in a Divided World. Discussions focused on Africa’s strategic responses to global fragmentation, including climate policy, trade, governance, and industrial development. Risk Insights’ sponsorship reflects its continued commitment to advancing sustainability, resilience, and inclusive growth across the continent.
Risk Insights Risk Article Section
Why ESG is Critical for Risk Management?
Author: Anushka Bogdanov, Chair and Founder, Risk Insights
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ESG practices help companies identify and mitigate non-financial risks such as regulatory penalties, supply chain disruptions, reputational damage, and environmental liabilities. These risks, if left unmanaged, can escalate into long-term financial challenges. By embedding ESG in corporate strategies, companies not only protect long-term value but also attract Transparency Signals Strategic Strength Transparent ESG reporting acts as a proxy for strong governance and management quality. It reassures investors of a company’s resilience and growth potential. As highlighted by Tamimi & Sebastianelli (2017), external transparency must be backed by robust internal metrics and processes. The urgency of climate-related risks further elevates ESG's importance. Since 2005, the global surge in climate events has increased scrutiny from both institutional and retail investors, with ESG indicators becoming critical tools for assessing long-term viability (Sahlian et al., 2023). Theoretical Foundations: ESG and Investor Behaviour Investor decision-making is grounded in theories such as the Efficient Market Hypothesis (EMH), Markowitz's Modern Portfolio Theory (MPT), and the Capital Asset Pricing Model (CAPM). These models assume that investors are rational and risk-averse, optimizing portfolios based on expected utility and return-risk profiles (Hodnett & Hsieh, 2012). Non-financial data including ESG disclosures now influence these expectations. Investors evaluate companies not only on earnings, but also on sustainability risks like greenhouse gas emissions and environmental impact, which can affect both equity prices and market capital (Eccles et al., 2011). Rising Investor Demand for ESG Disclosure Today's investors seek detailed ESG data: from carbon emissions and climate adaptation strategies to governance structures and stakeholder engagement. The Department of Forestry, Fisheries, and Environment (2022) notes a growing demand for granular climate change data, especially as extreme weather patterns and water scarcity intensify across regions. ESG ratings, often proxies for Corporate Social Performance (CSP), (2018), integrating ESG into both public and private sector decision-making is essential to achieving the 2030 Agenda and its 17 SDGs. Sustainable businesses contribute to inclusive economies, resilient capital markets, and a healthier References
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socially conscious investors and improve brand equity. Conversely, fragmented or siloed reporting undermines investor trust. Without a cohesive narrative, stakeholders struggle to evaluate a company's true sustainability performance, which may lead to undervaluation or capital flight (Mans-Kemp, 2020). enable comparison across companies, shedding light on both past performance and forward-looking strategy (Jha & Rangarajan, 2020). Regulatory Momentum and Institutional Influence Historically voluntary, ESG disclosure is now becoming a regulatory imperative. Governments and industry bodies increasingly require ESG transparency from listed companies and institutional investors (Lopez-de-Silanes et al., 2020). Such mandates aim to standardize disclosures, improve comparability, and elevate best practices. Institutional investors who manage capital on behalf of others play a pivotal role. Reports like UNEP FI’s Freshfields Report (2005) illustrate how ESG factors influence valuations and strategic direction. These investors shape company policies, ensuring ESG and Sustainable Development Goals (SDGs) are embedded into corporate planning (Jonsdottir et al., 2021). Historical and Societal Anchors in ESG Thinking The ESG dialogue is also shaped by societal values and religious teachings. Pope Francis’s 2015 encyclical Laudato Si called for unified global action on environmental and social justice issues, echoing the principles of the UN SDGs (Dolan & Barrero Zalles, 2021). This continues a legacy of socially conscious leadership dating back to the Industrial Revolution, when Pope Leo XIII’s Rerum Novarum addressed the ethical dimensions of labour and capital. The Strategic Imperative of ESG for Capital Markets ESG disclosure strengthens stakeholder trust by enhancing transparency, accountability, and ethical leadership core tenets of good governance (Iveta, 2012). Sustainable development cannot be achieved without responsible corporate behaviour. As noted by the United Nations planet. As ESG becomes a central axis in risk management, companies that embrace it will be best positioned to attract capital, reduce risk, and deliver long-term impact.
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CHOPPIES LIMITED
Showcasing a 30-Year Commitment to Shared Value and Sustainability
Author: Vidya Sanooj, Head of Corporate Affairs, Choppies
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Choppies Enterprises Limited is a Botswana-grown supermarket chain that was founded in 1986. What started as a single store in Lobatse, Botswana, has since grown into one of the largest and most recognized retailers of fast-moving consumer goods (FMCG) in Sub-Saharan Africa. As the largest retailer in Southern Africa outside of South Africa, Choppies operates 277 stores across Botswana, Namibia, and Zambia, supported by 8 distribution centres and a market capitalisation of BWP967 million. With our 2023 acquisition of Kamoso, we have diversified into liquor stores, hardware retail, milling and grain packaging, tissue conversion, and water bottling operations—broadening both our business footprint and our impact. For over 30 years, shared value has been at the heart of Choppies’ operations. More than a business philosophy, it is the foundation of our Environmental, Social, and Governance (ESG) approach. Widely regarded as a leader in sustainable business practices in Botswana, Choppies is committed to balancing profitability with social and environmental impact, addressing the pressing challenges of climate change, resource scarcity, and community upliftment. Guided by global sustainability frameworks—including the United Nations Sustainable Development Goals (SDGs)—we track and report on five key performance areas: water usage, energy efficiency, waste reduction, packaging optimisation, and sustainable logistics. Environmental Innovation and Impact Our investment in clean energy is transforming operations. In Namibia, solar power has been installed in 16 stores, with three more currently in development. In Botswana, solar systems have been installed at our fruit, vegetable, and beverage distribution centres. Since launching in May 2023, our Botswana We collaborate closely with small suppliers, including farmers, supporting local enterprise growth while securing a sustainable value chain. Our shared value strategy ensures that economic success creates tangible social benefits—boosting incomes, improving livelihoods, and supporting resilient local economies. Our corporate social investment programmes further reflect this commitment. From sponsoring Botswana’s Olympic athletes to wellness, education, and poverty alleviation initiatives, we are proud to play a |
solar infrastructure has generated over 1,388 MWh of electricity—offsetting 661 tonnes of carbon emissions, saving 517 tonnes of coal, and delivering an environmental benefit equivalent to planting 904 trees. Water conservation is also a priority. A pilot water recovery system is underway at eight Botswana stores, reclaiming and recycling water from various sources vital progress in one of the region’s most water-scarce environments. Energy efficiency remains a cornerstone of our sustainability programme. Today, 99% of our island freezers have been upgraded to self-contained, energy-efficient models. LED lighting has been implemented across all Botswana stores and is managed via intelligent optimisation software to reduce consumption. Comprehensive waste segregation ensures the responsible disposal and recycling of paper, plastics, biodegradable, and hazardous materials. We have also introduced biodegradable checkout bags and smart inventory systems to curb food waste. A Sustainable Supply Chain Choppies extends its sustainability vision across its entire value chain. We work closely with logistics and supply partners to uphold eco-conscious practices across upstream and downstream operations. Recognising the emissions footprint of our supply network, we are investing in tools to measure and manage Scope 3 emissions in alignment with our broader climate goals. Empowering Communities Through Shared Value Our sustainability journey is anchored in people. With a vast footprint in Botswana, 90% of the population is within 10 km of a Choppies store. This accessibility not only ensures food security but also broadens access to financial services in underserved rural communities. meaningful role in our communities. A notable initiative is our support for the Airborne Lifeline Foundation, which uses the Choppies aircraft at reduced cost to transport health professionals for outreach missions in remote areas. At Choppies, ESG is not a compliance exercise. It is a core part of our business strategy fuelling innovation, enhancing stakeholder value, and building a future where people and planet thrive together. |
London School of Economics – Africa Student of LSE BLOG
Sponsor Spotlight: Risk Insights Panel — Rethinking Risk and Regulation
By Asmaani Shukla (LSE MSc Development Studies Student, Africa Summit volunteer and attendee)
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The Risk Insights session captured the essence of the broader LSE Africa Summit 2025, which has established itself as a premier space for Africa-focused dialogue and thought leadership in Europe since its launch in 2014. Run by a student-led team deeply invested in the continent’s future, the Summit continues to place African voices and perspectives at the centre of critical global conversations. This year’s theme, “Securing Africa’s Future: Promoting Resilience in a Divided World,” set the stage for two days of rich discussion and collaboration among academics, policymakers, entrepreneurs, and civil society leaders. The Summit |
provided a dynamic platform to explore how African economies and institutions can adapt, lead, and thrive in the face of global uncertainty. From trade realignment and climate finance to energy transitions and institutional reform, conversations consistently pointed to one key message: resilience is not a luxury, but a long-term strategy rooted in African realities. What emerged was a vision of a continent reshaping its destiny through homegrown solutions, harnessing innovation, and reclaiming agency in global systems too often defined by external interests. |
