Staff Reporter
Treasury has announced plans to incorporate environmental, social, and governance (ESG) criteria into the national procurement system, marking a significant shift towards promoting responsible consumption and sustainable development in Zimbabwe.
Speaking at a press briefing in Harare, Finance and Economic Development Minister, Professor Mthuli Ncube emphasized the importance of ESG in modern governance.
“The integration of ESG criteria into our procurement system is not just a matter of compliance with international standards, but a commitment to creating a more sustainable and equitable future for Zimbabwe.
By prioritizing ESG in government contracts, we aim to ensure that public resources are utilized in ways that benefit society as a whole and protect our environment for future generations,” he added
Dr. Nyaradzo Mutizwa, an environmental economist with the Zimbabwe Institute of Sustainability weighed his sentiments on this development.
“The benefits of integrating ESG into procurement are multifaceted. Not only does it promote the responsible use of resources, but it also sets a benchmark for private companies to follow.
This could result in a ripple effect, where improved practices in public procurement drive broader changes in the business environment, leading to more sustainable economic development,” he added
Meanwhile, the new procurement guidelines will also contribute to Zimbabwe’s efforts to meet its commitments under international agreements, such as the Paris Agreement on climate change and the United Nations Sustainable Development Goals (SDGs).
By aligning procurement practices with these global frameworks, the Government hopes to attract more foreign investment, particularly from companies and institutions that prioritize ESG factors.
Similarly, as Zimbabwe continues to navigate its economic recovery, the emphasis on ESG in Government procurement is seen as a crucial step towards building a more resilient and inclusive economy. Government’s commitment to this initiative signals a recognition that long-term prosperity depends on sustainable practices that balance economic growth with social equity and environmental protection.
This policy shift is expected to be fully implemented in the next fiscal year, with Treasury set to monitor and report on its progress annually. The move is likely to set Zimbabwe apart as a leader in ESG integration within the region, furthering its goals of sustainable development and responsible governance.
