Data: The missing link for ESG reporting, market transparency

Mike E. Juru

IN the global financial ecosystem which includes Zimbabwe’s finan­cial and capital markets, data is the lifeblood of Environmental, Social and Governance (ESG) reporting and the foundation of credibility. Without cred­ible, consistent and verifiable data, ESG frameworks remain aspirational rather than actionable. The frameworks will not achieve their purpose of building investor confidence, reduce risk perceptions, and above all, unlocking climate finance.

For Zimbabwe, a country working on modernising its property and capital mar­kets, data is not optional, it is the currency of trust that aligns with international stan­dards and attracts much needed climate finance. The absence of robust data sys­tems is the single greatest barrier to trans­parency and investor confidence.

ESG reporting is built on disclosure. Investors demand evidence of carbon footprints, energy efficiency, water use, labour practices, and governance struc­tures. These metrics cannot be approx­imated — they must be measured, re­corded and audited. In markets such as the EU, US and South Africa, regulators have made ESG disclosure mandatory precisely because data transforms sus­tainability claims into verifiable financial information. Without data, ESG becomes rhetoric; with data, it becomes a currency of trust.

For Zimbabwe, this is particularly urgent. It was scientifically proven by UNEP that the real estate sector con­tributes significantly to emissions and resource consumption, yet in Zimbabwe, its reporting remains fragmented. Devel­opers and valuers often lack access to re­liable datasets on building performance, energy use, or social impact. This under­mines both transparency and the ability to access climate finance.

Why data matters

ESG reporting transforms sustain­ability commitments into measurable outcomes. Investors, pension funds and rating agencies rely on hard evidence — carbon footprints, water use, governance structures, and social impact metrics — to assess risk and allocate capital. Inaccu­rate or fragmented data undermines trans­parency, fuels scepticism, and excludes Zimbabwean projects from global capital flows. Conversely, credible data enables green bonds, sustainability‑linked loans, and concessional finance to flow into the economy.

Current gaps

Fragmented data sources: Energy, water and emissions data are scattered across utilities, local authorities, private operators and individuals, with little in­tegration.

Limited digital infrastructure: Many firms still rely on manual reporting, mak­ing ESG disclosures inconsistent and prone to error.

Absence of standards: Without na­tional benchmarks for green building performance or ESG indicators, reporting lacks comparability.

Weak verification: Auditing and as­surance mechanisms are underdevel­oped, leaving investors sceptical of re­ported figures.

What needs to be done

l Establish a national ESG data frame­work: Government and regulators should mandate standardised ESG indicators across sectors, aligned with global frame­works such as ISSB, GRESB and GRI. This creates comparability and credibil­ity.

l Digitise data collection: Utilities, mu­nicipalities and property managers must adopt digital platforms for real‑time data capture on energy, water and waste. Tech­nological interventions through block­chain and cloud solutions can enhance transparency and reduce manipulation.

l Create a centralised ESG data reposi­tory: A national database, managed by regulators or industry councils, would al­low investors, banks and rating agencies to access verified ESG data. This would mirror systems in South Africa and Ken­ya, where centralised reporting has im­proved market trust.

l Strengthen assurance mechanisms: In­dependent auditors and professional bod­ies must be empowered to verify ESG disclosures. This ensures that reported data is not only accurate but credible in the eyes of financiers.

l Capacity building: Training valuers, developers and regulators in ESG data management is essential. Without skilled professionals, even the best frameworks will fail.

Role of financial regulators

Zimbabwe’s regulators must lead in institutionalising ESG data frameworks:

Reserve Bank of Zimbabwe: Should require banks to disclose ESG‑linked lending portfolios, carbon exposure of fi­nanced assets, and climate‑related credit risks.

Zimbabwe Securities Exchange Commission: Must enforce ESG disclo­sure standards for listed companies, en­suring comparability across sectors.

Insurance and Pensions Commission: Needs to collect data on insurers’ and pension funds’ exposure to climate risks, investment in green assets, and gover­nance practices.

Zimbabwe Stock Exchange: Should mandate ESG reporting for issuers, inte­grating sustainability metrics into listing requirements and market indices.

Role of Valuers Council of Zimbabwe

VCZ has a pivotal role to play in strengthening ESG reporting and market transparency, complementing the work of financial regulators. Because valua­tion underpins capital markets, property finance, and investment confidence, the council acts as both a technical authority and a data custodian.

By institutionalising ESG‑aligned valuation data, the VCZ bridges the gap between property markets and financial regulators. This will not only enhance market transparency but also make Zim­babwe’s real estate sector bankable in the eyes of climate financiers. In effect, the council becomes the technical backbone of ESG reporting, ensuring that sustain­ability is embedded in asset values and capital flows.

The way forward.

Zimbabwe’s ambition to access cli­mate finance and position its property sector as globally competitive hinges on data, it must establish a national ESG data repository, digitise collection sys­tems, and empower independent auditors to verify disclosures. By institutionalis­ing data, regulators will transform ESG reporting from aspiration into action, positioning Zimbabwe’s capital markets as transparent, credible and globally competitive. Transparent ESG reporting, underpinned by reliable datasets, will unlock green bonds, concessional loans and sustainability‑linked investments. Most importantly, it will build market confidence, reduce risk perceptions, and align Zimbabwe with international best practice.

The message is clear: data is not op­tional, it is the foundation of ESG success. By institutionalising data frameworks, digitising collection, and enforcing ver­ification, Zimbabwe can transform ESG from aspiration into action, and transpar­ency from rhetoric into reality. In doing so, the country will not only attract capi­tal but also future‑proof its real estate sec­tor against the climate challenges ahead.

l Juru is a recognised and accom­plished business leader who is the cur­rent chairman of the Green Building Council Zimbabwe and CEO of Inte­grated Properties. His previous nation­al leadership roles include chairman of Institute of Directors Zimbabwe, pres­ident of Real Estate Institute of Zimba­bwe, chairman of the Valuers Council of Zimbabwe, inaugural chairman of REITs Association, vice president ZNCC. He has sat on several boards in the private and public sectors. He leads passionately the transformation of Zimbabwe’s built environment to sustainability.