FirstBank sees pro-activity, innovation as solution to sustainability challenges

First Bank of Nigeria Limited has identified pro-activity, innovation and creativity as solutions to sustainability challenges.

The sustainability challenges that must be confronted should bother on minimising risks, engendering cost efficiency, increasing revenue and perpetuating brands, among others.

Bisi Onasanya, CEO, FirstBank, affirmed that recent developments in the corporate world across borders point to the need to continuously strengthen institutions to brace up for long-term sustainability.

Speaking at the International Sustainability Conference 2015, organised by the bank in Lagos, Onasanya said both the public and private sector businesses must address the unfolding changes across the globe.

“We require strong institutions not strong individuals, as they say. After all, it is sustainable and value creating institutions that will outlast individuals as well as sustain succeeding generations,” he said.

According to him, sustainability is in vogue globally as a desirable concept in business and civil society. Business managers, however, often mistake the perception of sustainability. Consequently, businesses are struggling to grasp the basics for integration and exploitation of sustainable business development systems.

The CEO said sustainability and value creation were inalienable imperatives for businesses and all active players in the contemporary world, “if we must ameliorate the world’s problems,” adding that Africa was no exception in the unfolding paradigm.

The bank remains committed to the ideals of corporate citizenship and sustainable businesses practices, he said. “Consistent with the bank’s position as a sustainability thought leader, we established the FirstBank Sustainability Centre in partnership with the Lagos Business School to serve as a specialised centre that focuses on knowledge creation, knowledge dissemination and knowledge application of sustainability related issues, among other things. “FirstBank would always strive to provide a unique value proposition that will drive higher levels of sustainability and business continuity,” he said