HomeNewsAccess Bank Partners LBS In Energy Transition Project

Access Bank Partners LBS In Energy Transition Project

Nigeria: Access Bank Plc. has yet again shown commitment to its sustainability mission, through its partnership with the Lagos Business School (LBS) in funding the school’s 350KW and 152KWh hybrid power solutions project. This was made possible by the bank’s Sustainable Use of Natural Resources and Energy Finance (SUNREF) facility.

The bank made this known through a statement signed by Mr Amaechi Okobi, the Access Bank’s Group Head, Communications & External Affairs, recently in Lagos.

The statement reiterated the bank’s continuous commitment to sustainability through the expansion of its green risk asset portfolio. It also confirmed that the LBS financing which was developed by the bank’s Business Banking Division and the Project & Structured Finance Team would be the first-time use of the SUNREF facility.

Sustainable Use of Natural Resources and Energy Finance (SUNREF)

The bank’s Managing Director, Mr Roosevelt Ogbonna, was also quoted to have said that the LBS project was the first of its kind to be supported by the bank.

“Our bank believes in projects with sustainable and impact value, and the LBS project is only the beginning of many such projects the bank will support using the SUNREF facility,” Ogbonna said.

In addition, the bank’s Group Head of Project & Structured Finance, Mr Gavin Greenway, said: “It’s fitting that a citadel of learning like the LBS is the first confirmed beneficiary of the SUNREF facility. This means the energy transition gospel becomes even more compelling given the practical reference it has on its own premises.

“Students will see the solar canopy whenever they look up. This will send a powerful message to the next generation of how we must power our future.

“Whilst Africa is a negligible CO2 emitter globally, its resolve to go green will signal to the world how seriously it takes responsibility for its own emissions.

“We see SUNREF as just the opening phase of a larger, pan-African master plan from Access Bank,” Greenway said.

SUNREF is a green energy facility made available by the Agence Française de Développement (AFD) and Winrock to aid Access Bank’s goal to support Nigeria’s journey toward carbon emissions’ reduction, and a cleaner and safer environment. The SUNREF facility is readily available and can be obtained by applying through its website.

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