The world today is facing a climate crisis, which has caused extreme weather conditions in all regions. It is almost a given now that every news bulletin will report a flood, wildfire, drought, heatwave or storm and the effects of these disasters are being felt by millions of people globally. Greenhouse gas emissions are the culprit for this, and the world is looking at reaching net-zero emissions by the year 2050. Attaining net-zero can only be achieved through the conscious effort we put into drastically reducing our carbon footprint.
Sustainability and eco-friendly practices are at the core of our banking operations at UBA. Our products and services are designed for the greater good of our customers and the environment in which we operate. Here are some of the ways we do banking the green way:
Green Banking: How to Achieve This
Digital Banking: This is not only more convenient than walking into a physical branch it reduces the need for cheques, paper statements and receipts, thereby reducing paper waste, deforestation for paper and the carbon footprint that will come from physical mailings or driving to the branch.
Energy Conservation: At UBA, all offices are fitted with motion sensor LED lights to conserve energy and reduce emissions.
Sustainable Investments: Our group chairman Tony O. Elumelu is one of the biggest advocates of sustainable investments on the African continent. A course he has dedicated his time and resources to. In July this year, he joined world leaders and other business leaders at the Climate Finance Mobilisation Forum in London where he reiterated his commitment to green entrepreneurship and sustainable agriculture.
Risk Assessment: We integrate environmental risk assessment into our lending practices to identify and manage potential risks associated with projects that could harm the environment. We make conscious efforts to offer loans and financing to projects that have a positive environmental impact.
Corporate Social Responsibility (CSR): UBA Foundation, our corporate social responsibility arm has constantly come up with environmentally friendly initiatives like tree planting and the maintenance of the Lagos Marina Garden.
Reducing Carbon Footprint: We try as much as possible to hold more webinars and virtual meetings instead of physical ones and have an efficient waste management and disposal system to minimise carbon emissions.
Transparency and Reporting: We release yearly sustainability reports to show our customers our efforts and progress towards reducing our environmental impact. Our operations are centred around our ESG framework.
Ethical Practices/Investments: Our investments and practices are done with our customers and the environment in mind. We are constantly thinking of how our banking practices can positively affect our customers and the environment. We only engage in investments that are ethical.
At UBA we are committed to contributing to a more sustainable future through our operations while also attracting customers who prioritise eco-friendly practices.
