• Tuesday, July 16, 2024
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Fidelity Bank takes a lead with ISSB-Compliant Sustainability report

Here’s how Fidelity Bank wants to spend offer proceeds

Fidelity Bank Plc has emerged the first bank to publish its 2023 ISSB-Compliant Sustainability and Climate Report in the Nigerian banking industry.

In demonstration of its leadership in the sustainability space, Fidelity Bank hosted the report on its website on June 30. The report provides insights into the bank’s governance, strategy, risk management, metrics and targets around sustainability and climate-related risks and opportunities, human capital, community efforts, amongst others in the 2023 financial year.

Fidelity Bank was recently listed amongst the top Nigerian banks in ESG performance according to a survey commissioned by the Independent Project Monitoring Company (IPMC) Limited.

The document, which was prepared in accordance with the requirements of IFRS S1 and S2, highlights the bank’s achievements and aspirations as pacesetters within the financial services sector.

“2023 marked a pivotal point in our sustainability journey. We became a signatory of the UN Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking (PRB) and the UN Women’s Empowerment Principles (WEP).

“These associations go beyond mere statements of membership – they actively integrate sustainability and climate-related goals into our core business strategy and daily operations,” Mustapha Chike-Obi, chairman, Board of Directors, Fidelity Bank Plc remarked in the report.

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He said: “We believe innovation and transparency are essential for building trust in our strategies and achievements. As we progress towards sustainability, we remain committed to our diverse stakeholders including our dedicated workforce, esteemed shareholders, and valued customers”.

Kevin Ugwuoke, Executive Director/Chief Risk Officer, Fidelity Bank Plc stated, “Our 2023 Sustainability and Climate Report details our commitment to continually situate ESG and Climate-related risks & opportunities considerations at the core of our business operations and activities as we constantly explore means of meeting our corporate objectives in a manner that significantly reduces the negative environmental and social effects. We are glad to be the first bank to publish its report as this emphasizes our market leadership in the Sustainability space and we commit to do more to increase our positive impacts in all aspects of sustainability.”