Data: The missing link for ESG reporting, market transparency in Zimbabwe

Dr Mike 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 attract 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, USA 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 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
• 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.
• 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.
• 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.
• 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.
• Capacity building
Training valuers, developers and regulators in ESG data management is essential. Without skilled professionals, even the best frameworks will fail.

The role of financial regulators
Zimbabwe’s regulators must lead in institutionalising ESG data frameworks:
Reserve Bank of Zimbabwe (RBZ): Should require banks to disclose ESG linked lending portfolios, carbon exposure of financed assets, and climate related credit risks.
Zimbabwe Securities Exchange Commission (SECZ): Must enforce ESG disclosure standards for listed companies, ensuring comparability across sectors.
Insurance and Pensions Commission (IPEC): Needs to collect data on insurers’ and pension funds’ exposure to climate risks, investment in green assets, and governance practices.
Zimbabwe Stock Exchange (ZSE): Should mandate ESG reporting for issuers, integrating sustainability metrics into listing requirements and market indices.

Role of Valuers Council of Zimbabwe (VCZ)
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.
Dr 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 private and public sector. He leads passionately the transformation of Zimbabwe’s built environment to sustainability.