Climate Resolutions: A Growing Concern for Tunisian Companies
Despite the growing importance of climate issues, only 15% of companies have included a climate resolution on the agenda of their general shareholders' meeting. However, those that have done so demonstrate a commitment to decarbonizing their activities. This is revealed by the results of the Capital Market Authority's (CMF) study on corporate social responsibility (CSR) practices among Tunisian listed companies, published on May 30 on its website.
Although the integration of climate resolutions into corporate governance is a benchmark of CSR engagement, it is concerning to note that 60% of companies have not yet prioritized this issue on their agenda.
On a more positive note, the report states that the majority of companies (55%) have adopted clear CSR objectives, with a particular focus on reducing their environmental footprint and optimizing production processes. Others aim to improve working conditions and stakeholder satisfaction, while some objectives focus on gender equality and business ethics. This approach enables companies to measure their progress in this area and thus improve their CSR approach.
Furthermore, in accordance with Law 2018-35, a large majority of companies (75%) have allocated funds to support CSR programs. The funded initiatives include water treatment projects, photovoltaic projects, and decarbonation projects. Some banks have even set up a financing line for companies to support renewable energy and pollution control projects.
Finally, it is worth noting that around 60% of companies have implemented training programs for new administrators, covering topics such as anti-money laundering, IFRS standards, and board member responsibility. These training programs aim to strengthen the ability of leaders to identify and manage non-financial risks.