Ecobank signs up to The United Nations Environment Programme’s Finance Initiative (UNEP FI) Principles for Responsible Banking
The Principles aim to create a financial sector that serves people and the
planet while delivering positive impacts and improving people’s quality
of life
LOME, Togo, November 13, 2019/ -- Ecobank Transnational Incorporated ( ETI) (https://www.Ecobank.com/) is delighted to announce that it has become an official Signatory to
the UN Principles for Responsible Banking: a single framework for a
sustainable banking industry developed through an innovative partnership between banks worldwide and United Nations Environment Programme’s
Finance Initiative.
The six Principles for Responsible Banking align the banking sector with the objectives of the UN Sustainable
Development Goals and the 2015 Paris Climate Agreement. They embed
sustainability across all business areas and enable banks to identify
where they can make the most impact to the sustainable development of
economies and the world. The Principles aim to create a financial sector that serves people and the planet while delivering positive impacts and improving people’s quality of life, without compromising that of future generations.
Ade Ayeyemi, Group CEO of Ecobank said : “At Ecobank we take our sustainability responsibilities seriously by continuously ensuring
that sustainable practices are established throughout our decision
making, management, business activities and organisation. Along with our customer-centric focus and intent to be a trusted adviser, we take a
proactive leadership role in sustainability and our decisions and
actions always take account of society’s goals and Africa’s future generations. By subscribing to the six Principles for
Responsible Banking we are publicly declaring that we follow the
best-in-class sustainability practices that have been adopted by major
global banks.”
Members of the banking industry of UNEP FI have developed the six
Principles of Responsible Banking to refine the business and
Environmental, Social and Governance practices in the banking industry.
The Principles guide banks in their sustainability stewardship and
challenge them to continuously increase their contribution towards a
sustainable future.
Ecobank has been a signatory to the UNEP FI since 2009. The Initiative
has 274 financial institution members from the Banking, Insurance and
Investment industries. Ecobank also serves on the Global Steering
Committee (GSC) of UNEP FI.
The six Principles for Responsible Banking are:
Alignment: We will align our business strategy to
be consistent with and contribute to individuals’ needs and society’s
goals, as expressed in the Sustainable Development Goals, the Paris
Climate Agreement and relevant national and regional frameworks.Impact & Target Setting: We will continuously
increase our positive impacts while reducing the negative impacts on,
and managing the risks to, people and environment resulting from our
activities, products and services. To this end, we will set and publish
targets where we can have the most significant impacts.Clients & Customers: We will work responsibly
with our clients and our customers to encourage sustainable practices
and enable economic activities that create shared prosperity for current and future generations.Stakeholders: We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.Governance & Culture: We will implement our commitment to these Principles through effective governance and a culture of responsible banking.Transparency & Accountability: We will
periodically review our individual and collective implementation of
these Principles and be transparent about and accountable for our
positive and negative impacts and our contribution to society’s goals.
Ecobank has integrated the UNEP FI framework with its internal
Environment and Social Management Systems (ESMS), which was developed on the basis of our engagement with the globally recognised ESG
frameworks, such as IFC Performance Standards as well as our association with other financial institutions on their interpretation of
environmental and social management as related to the credit review
process. Furthermore, as a result of our membership, we are gaining a
better understanding in ensuring that projects financed and eligible
transactions in the E&S sensitive sectors are developed in a
socially responsible manner and reflect sound environmental management
practices. The Bank continues to ensure that negative
socio-environmental impacts are avoided and where possible the Bank
engages the project proponents in establishing a set of corrective
mitigating measures.
About Ecobank Transnational Incorporated (‘ETI’):
Ecobank Transnational Incorporated (‘ETI’) (https://www.Ecobank.com/) is the parent company of the Ecobank Group, the leading independent
pan-African banking group. The Ecobank Group employs over 15,000 people
and serves about 20 million customers in the consumer, commercial and
corporate banking sectors across 33 African countries. The Group has a
banking licence in France and representative offices in Addis Ababa,
Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubaï, the United Arab Emirates. The Group offers a full suite of
banking products, services and solutions including bank and deposit
accounts, loans, cash management, advisory, trade, securities, wealth
and asset management. ETI is listed on the Nigerian Stock Exchanges in
Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des
Valeurs Mobilières in Abidjan .
For further information please visit www.Ecobank.com
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