MTN raises bar for telecoms disclosure with IFRS S1, S2

Global pressure on corporations to provide transparent climate and sustainability disclosures is reshaping reporting standards across capital markets. This informed MTN Nigeria’s decision to publish its 2025 Sustainability Report in compliance with International Financial Reporting Standards (IFRS) S1 and S2. It is one of the few African-listed companies to voluntarily adopt the framework ahead of […]

Global pressure on corporations to provide transparent climate and sustainability disclosures is reshaping reporting standards across capital markets.

This informed MTN Nigeria’s decision to publish its 2025 Sustainability Report in compliance with International Financial Reporting Standards (IFRS) S1 and S2. It is one of the few African-listed companies to voluntarily adopt the framework ahead of its mandatory implementation timeline.

The report marks MTN Nigeria’s seventh consecutive annual sustainability publication and third straight year as an early adopter of the IFRS sustainability disclosure standards.

Independently assured by Ernst & Young (EY), the report aligns with multiple global and local reporting frameworks, including the Global Reporting Initiative Standards, the Sustainability Accounting Standards Board telecommunications standard, the UN Global Compact Principles, the Nigerian Exchange sustainability guidelines, and the .Securities and Exchange .Commission’s Sustainable Finance Principles. 

MTN Nigeria’s CEO, Dr. Karl Toriola, said: “Strong governance and ethical conduct are foundational to our sustainability strategy. We reinforced compliance through our Conduct Passport Framework and robust internal controls.

“In May 2025, we became the first telecommunications company in Nigeria to publicly present a sustainability report on the Nigerian Exchange Group platform, an important milestone in our commitment to IFRS S1 and S2- aligned disclosure and accountability.”

The company also secured Carbon Disclosure Project ratings of ‘B-’ for climate change and ‘C’ for water security. Under the IFRS S2 framework, the telecoms operator disclosed climate-related risks linked to flooding, heat stress, regulatory changes and possible future taxes or charges on carbon emissions, following a climate scenario analysis completed in 2024.

The report also showed that MTN Nigeria now uses a digital reporting format –  XBRL.  This makes its sustainability and governance data easier for investors and ESG rating agencies to access and analyse through automated systems. 

A financial sector analyst, Adeola Adenle, said MTN Nigeria has done well by persistently publishing its financial record to the public. This, he said, would attract more investors to the company. 

Adenle called on other telecom operators to emulate MTN in order to bolster the rating in the eyes of investors. 

Another expert, Mutairu Alani Oloja urged NCC to force telecom operators which have not been publishing their financial record to do so.