Union Bank unveils 2020 sustainability, innovation report
Union Bank, one of Nigeria’s foremost financial institutions, has announced the release of its 2020 Citizenship, Sustainability, and Innovation (CSI) report, outlining its initiatives across three pivotal areas- Citizenship, Sustainability, and Innovation.
The report gives a detailed account of the bank’s continued efforts towards creating a more sustainable future by further embedding responsible business practices, positively impacting people, and communities, and driving innovation. The bank’s initiatives are in alignment with the Nigerian Sustainable Banking Principles (NSBPS) and the Sustainable Development Goals (SDGs),
The CSI report is compliant with the Global Reporting Initiative (GRI) Standards, underscoring the bank’s focus on transparent, accountable reporting of its initiatives.
Speaking on the 2020 CSI report, Emeka Okonkwo, the CEO of the bank, said: “Our 2020 CSI report lends further credence to our commitment to a more sustainable world. Notwithstanding the turbulent events brought on by the COVID-19 pandemic in 2020, we remained firm in our resolve to positively impact the communities within which we operate.
“As the world battled unprecedented challenges brought on by the pandemic, we pivoted our citizenship initiatives to address urgent needs and embarked on a journey to meaningfully impact our employees and the communities we serve.”
During the year in view, the number of the bank’s branches and Automated Teller Machines (ATMs) on the solar grid increased to 111 and 407, respectively, thereby reducing the bank’s environmental footprint and demonstrating a firm commitment to environmental responsibility.
Other key highlights of the Report include the Bank’s multipronged approach to support the fight against COVID-19, donating a total of N350 million to the Coalition against COVID-19 (CACOVID), the Lagos State COVID-19 Emergency Food Response programme and 54 Gene, an African genomics research, services and development company.
Through the 2020 Employee Volunteer Day initiative – The Gift of Water, Union Bank and its employees also provided potable water to over 15,000 Nigerians.
In addition, on the platform of Edu360, Union Bank provided much-needed support to education sector stakeholders, through knowledge-sharing sessions and other key projects and partnerships.
The release of the fifth CSI report underscores Union Bank’s commitment to maintaining its leading position as a sustainability champion and a socially driven and responsible corporate organisation.
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions.