Abdulsalam Alhassan, Govt Director, Wholesale and Funding Banking, GCB Financial institution
GCB Financial institution PLC has outlined quite a few sustainable finance initiatives geared toward supporting local weather resilience, monetary inclusion and accountable enterprise progress as a part of its environmental, social and governance (ESG) agenda.
The financial institution’s Govt Director, Wholesale and Funding Banking, Abdulsalam Alhassan, disclosed this in a presentation on the eleventh Worldwide Convention on Enterprise Administration, Entrepreneurship and Improvement (ICBMED), organized by the Accra College of Skilled Research (UPSA).
Talking on the theme “Sustainability and ESG-driven financing for firms: the position of business banks in Africa’s financial transformation,” Alhassan mentioned sustainability and ESG issues have develop into crucial to financial resilience, funding attractiveness, and long-term enterprise stability.
He mentioned climate-related disruption, environmental degradation and governance challenges proceed to pose monetary and financial dangers, and banks must help firms that promote accountable useful resource use and transparency.
Alhassan mentioned that over the previous 18 months, GCB Financial institution has strengthened its sustainability efforts by way of coverage, operational and financing interventions focusing on ESG-related investments and actions.
He mentioned the financial institution has established a board-level sustainability committee to supervise its sustainability efforts, and has additionally developed a sustainability framework and an environmental and social administration system (ESMS) to display small and medium-sized enterprises and company mortgage transactions for environmental, social and climate-related dangers earlier than approval.
He additional disclosed that the Financial institution has restructured its operations to create a devoted business and company banking division targeted on micro, small and medium enterprises (MSMEs), recognizing their position in job creation and inclusive financial progress.
He mentioned the financial institution has additionally launched a workers group affect program the place staff help community-based sustainable improvement initiatives.
On financing interventions, Alhassan mentioned GCB Financial institution is at the moment implementing a USD 13 million Sustainable Pure Sources and Vitality Finance (SUNREF) financing facility secured from the Agence Française de Développement (AFD) to help SME purchasers making sustainable investments.
He identified that underneath this facility, the Financial institution helped manufacturing firms set up solar energy techniques, leading to a discount in vitality prices of about 40 % and carbon emissions.
Mr. Alhassan additionally highlighted different social affect interventions by the Financial institution, together with wage advance merchandise, financing help for nationwide civil servants, investments in lodging infrastructure for college students, and help for highway building initiatives geared toward bettering entry to markets and manufacturing facilities.
For the previous decade, the UPSA Worldwide Convention on Enterprise Administration, Entrepreneurship, and Improvement has introduced collectively policymakers, executives, trade leaders, and teachers to debate traits in enterprise progress and financial improvement in Africa.
This yr’s convention was hosted by UPSA Vice-Chancellor, Professor Kwaku Mensah Mawtle, and chaired by Forestry Fee Deputy Chief Govt Officer, Mr Elikem Kotoko.
