HomeEnvironment & ClimateStakeholders Make Case For Replication Of NSBPs For Environmental Protection At NCF...

Stakeholders Make Case For Replication Of NSBPs For Environmental Protection At NCF Forum

Experts and stakeholders in sustainability in Nigeria have called for the replication of the Nigerian Sustainable Banking Principles (NSBP) across other industries to foster environmental protection, preservation, and sustainability.

They made this appeal at the opening of a two-day workshop on the NSBP organised by the Nigerian Conservation Foundation (NCF) which was held between Wednesday and Thursday, this week in Lagos.

Speaking at the two-day event themed ‘Assessment of Environmental and Social Principles of the Nigerian Sustainable Banking Principles: Challenges and Opportunities’, the Director-General of NCF, Dr. Joseph Onoja, said that the foundation was interested in the environmental and social impact of the (NSBP).

Onoja said that NCF would like to see how far the NSBP was implemented, the challenges and gaps,

“We as NCF engage in this process so that we will see where we can plug in, where we can bring expertise from within and without, and also be able to help banks, the CBN, or other groups to be able to push this agenda forward.

“When we have healthy banking principles, we will have a healthy environment and promote environmental conservation, which is our life support system,” Onoja said.

Speaking exclusively to Impact Reports Africa on the need to further prioritise the environment over prosperity and people in the hierarchy of sustainable business practices, Onoja revealed, “If you look at it critically, we need to flip things the other way round. We ought to put the planet first, then the people, and lastly, prosperity.

“This is because no matter the prosperity you think you have when the planet is not healthy, people will not enjoy that prosperity. The earth is the number one unit of production because nothing can be built in a vacuum. So, the planet needs to be a conducive place for prosperity to thrive, and people will be the ones to enjoy it,” he concluded.

The Managing Director, of Access Bank PLC, Mr. Roosevelt Ogbonna, represented by Omobolanle Victor-Laniyan, while delivering a keynote address, said that sustainability is a philosophy and value system.

Ogbonna said that sustainability dictates that organizational activities must not only benefit its staff and shareholders but also its customers and the wider economy, while at the same time preventing any undue effects on society and the natural environment.

He added that the increasing threat of climate change and the global COVID-19 pandemic has caused threats in sustainability to rapidly accelerate with more energy being put into lasting solutions to shape our future.

He noted that the NSBP were guidelines for managing environmental and social risks, footprints, and governance, improving human rights and women’s economic empowerment, etc.

Mr. Orji Udumezuethe CEO, of Flame Consulting, said that there was overall commendable progress by most banks by paying more attention to energy consumption, carbon footprints, waste management, paper usage, and water management.

Udumezue said that an area of success on the NSBPs was that Nigerian banks were now being sustainability certified by global authorities in sustainable development.


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