By Stanley Onyeka, Lagos
First Bank of Nigeria Plc has won the Euromoney award for its environmental, social, and governance (ESG) investments in Nigeria.
A statement signed by its Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney, said the award reinforces the bank’s position as a leader in sustainable banking and finance practices in its 130 years of existence.
According to her, the award is a recognition of its contributions and unwavering commitment to environmental, social, and governance investments in Nigeria, facilitated through innovative financial solutions and initiatives.
Ms. Ani-Mumuney said: “Euromoney recognised First Bank’s significant progress amongst other areas in the implementation of an ESG management system, which facilitated the screening of N4.2 trillion new transactions for potential ESG risks in 2024.
“In support of Nigeria’s green transition, First Bank funded a $10 million solar energy project, expanding access to off-grid solar solutions in Africa and Asia through a pay-as-you-go model.”
At First Bank, we believe that sustainability is a driver for growth and innovation. Our approach to sustainability is built on three pillars: Citizenship, Stakeholder Management, and Impact Management.
She disclosed that the bank also “committed N16 billion to develop four modular independent power plants for a major beer manufacturer, enabling it to shift from diesel generators to more sustainable energy sources and significantly reducing production costs.
“Additionally, First Bank started a tree planting campaign in partnership with the Nigeria Conservation Foundation to plant over 50,000 trees in 2024 demonstrating the bank’s dedication to ESG as a business agenda.”
Accordingly, she noted that the Euromoney award validates First Bank’s efforts to create a sustainable and inclusive future for all its stakeholders.
She added that the bank’s commitment to advancing continuous positive impact in the marketplace, workplace, environment, and communities it serves.
“We are thrilled to receive the Euromoney Award for Nigeria’s best bank in ESG. This recognition is a testament to the power of enabling giants in our employees, businesses, and communities to achieve success.
“At First Bank, we believe that sustainability is a driver for growth and innovation. Our approach to sustainability is built on three pillars: Citizenship, Stakeholder Management, and Impact Management.”
The Organisers, Euromoney, said the awards represent the highest distinction to the banks and “bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.”
