InPrint: Promoting Sustainability in Nigeria
Publisher: Access Bank
Year of publication: 2016
Financial institutions like access bank are recognizing the benefits of sustainable banking and the positive impacts on company and society. In this publication, Access bank details its sustainability practices since 2008 after introducing an innovative corporate responsibility initiative.
The report explains that Access bank as a company is placing greater importance on sustainability whether it relates to the planets wellbeing or local community goals and how the bank meets the day-to-day needs of its customers while simultaneously guaranteeing a better future for all stakeholders.
It details that over the past decade, its sustainability journey has led to restructuring business operations and moved to develop new strategies that aim to create a brighter future. In 2010, the bank took a cost-benefit analysis which helped in accessing the expected expenses and benefits of implementing environmental, social and governance considerations in project financing.
In 2012, Access bank initiated and led the process that culminated the development of the Nigerian Sustainable Banking Principles (NSBP), a set of principles that guides all banks in Nigeria in embedding sustainable practices. Later on, the bank and other organisations set up principles to guide the global banking sector to embed sustainability in business in line with the SDGs and the Paris Climate Agreement.
Also, in a bid to drive sustainable waste management, the bank launched a no-paper initiative to boost sustainability throughout its branches. Employees are supplied with paper-saving tips and an automated memo approval system to help them rationalize the implications of paper waste in the office. In addition, the use of LED lightings in the office spaces nationwide was introduced to ensure lower energy consumption; this initiative is powered by hybrid energy.
The publication also shed light on Access bank’s commitment to sustainability, its partnership with the Aspire Coronation Trust Foundation has provided funding for non-profit organizations across Africa, to develop impactful initiatives for the society. Also, in line with their support for healthy living, The Access Bank Lagos City marathon encourages the residents of Lagos Nigeria to contest in a marathon organised yearly.
In conclusion, Access bank has explained concisely its measures taken to ensure environmental sustainable practices and how the topic of sustainability is a top priority for the bank.