HERALD

ZSE companies record ESG-linked safety gains

Tawanda Musarurwa

WORKPLACE injuries and fatalities continue to rise nationally despite improvements in safety indicators reported by Zimbabwe Stock Exchange (ZSE)-listed companies, highlighting the potential role of environmental, social and governance (ESG) integration in strengthening industrial safety practices.

Official statistics show that reported workplace injuries increased by about four percent to 4 414 in 2025, from 4 242 in 2024, while fatalities rose 11,4 percent to 78, from 70.

The situation deteriorated further in the first half of this year, with disabling injuries increasing eight percent to 2 442 by June, from 2 263 during the same period last year.

Workplace fatalities rose 30 percent, from 40 to 52, over the same period.

Against this backdrop, a study of 37 ZSE-listed companies has found that injury rates and lost-time injuries generally declined between 2023 and 2024, while preventive safety measures remained strong, suggesting that integrating ESG considerations into business operations could help improve workplace protection.

Presenting the findings recently, Scientific and Industrial Research and Development Centre (SIRDC) environmental science director Dr Farai Matawa said ESG could strengthen conventional safety, health, environment and quality (SHEQ) systems by embedding workplace protection into broader corporate strategy.

“In principle, we are saying ESG elevates SHEQ to another level,” he said.

The research examined 74 reports from 37 ZSE-listed companies over two years, complemented by questionnaires completed by 33 active industrial safety practitioners.

The companies covered banking, agro-industrial, manufacturing, mining and telecommunications.

In 2024, 29 of the 37 company reports recorded a decline in Total Injury Frequency Rate (TIFR), compared with 26 in 2023.