Not only does the publication communicate the bank’s economic, social and environmental performance within 2016, it also unveils plans and targets towards the next five years and beyond. In order to further express commitment to pursuing sustainability after a 2016 debut report, Zenith Bank in this second standalone sustainability report discloses its progress in the journey.
Using the latest version of the most widely-used sustainability standard – GRI; with a specific core option and content index, the publisher proudly reveals a 17.5% increase in the bank’s gross earnings and a 22.9% increase in profit after tax for the year under review. Despite the challenging economic wind that waved through the country within the year, Zenith Bank is said to have recorded a commendable financial growth.
In social performance, Zenith exceeded the N2billion standard mark for social investments as its investment in CSR surpassed industry benchmark. To reflect environmental performance, the report discloses total Greenhouse Gas emissions per employee and other facilities in its head office. The publisher however did not fail to admit the challenges with meeting carbon footprint targets based on the shortcomings from its third party relationships.
This comprehensive report is clearly presented with the use of graphics, images, and tables where necessary. It articulates ethics and integrity within Zenith’s stakeholder clusters; governance, ownership and structure; business focus, locations and progress. It also dedicates a chapter to feature performance with stakeholders; showing the matrix, channels and frequency of engagement, as well as key concerns raised by stakeholders and accorded responses.
The section on Footprints and Greenhouse gas emission audits are visually appealing and explicitly presented; raising no difficulty with comprehension for stakeholders of diverse educational levels. Moreover, there is a chapter on the Nigerian Sustainable Banking Principles (NSBP) howbeit no chapter on the UN Sustainable Development Goals (SDGs) or a mention of them and the Bank’s priorities even though the chairman’s opening statement expresses the commitment of the Bank to the #GlobalGoals.
With a combination of the GRI standards, the UNGC, UNEP-FI, ILO, IFC-PS, IS026000, OECD, NSBP, and the UN Universal Declaration of Human Rights, this report has not only been accurately and resplendently presented, it is ideal to guide and adequately inform every stakeholder; customers, shareholders, employees, investors, supply chain alike, including intending stakeholders and the general public about Zenith Bank’s sustainability journey through 2016. It can also serve as a template or a reference for other financial institutions in reporting on their sustainability journeys.
Publisher: Zenith Bank
Year of Publication: 2017