The West African premier financial institution and financial inclusion services provider, FirstBank has again, reinforced its position as a leader in sustainable banking and financial services in its 130 years of existence as it emerged winner of the 2024 Euromoney Award for Nigeria’s Best Bank in Environmental, Social and Governance (ESG).
Following a rigorous and highly competitive selection process, FirstBank was awarded Nigeria’s Best Bank for ESG in 2024 by the respected and renowned Euromoney Awards for Excellence. This award honours FirstBank’s contributions and unwavering commitment to ESG practices and investments in Nigeria, facilitated through innovative financial solutions and initiatives.
Euromoney recognized FirstBank’s significant progress among other areas in the implementation of an ESG management system, which facilitated the screening of N4.2 trillion new transactions for potential ESG risks in the 2024 fiscal year.
To support Nigeria’s green transition, FirstBank funded a $10 million solar energy project, expanding access to off-grid solar solutions in Africa and Asia through a pay-as-you-go model and committed N16 billion to develop four modular independent power plants for a major beer manufacturer.
These projects enabled it to shift from diesel generators to more sustainable energy sources and significantly reduce production costs. Additionally, FirstBank started a tree planting campaign in partnership with the Nigeria Conservation Foundation (NCF) to plant over 50,000 trees in 2024 demonstrating the Bank’s dedication to ESG as a business agenda.
Expressing delight at the recognition, Group Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney said: “We are thrilled to receive the Euromoney Award for Nigeria’s Best Bank in ESG. This recognition is a testament to the power of enabling Giants in our employees, businesses, and communities to achieve success.
Read also: Car maker Tesla leaves timeline open for expansion of Berlin plant
“At FirstBank, we believe that sustainability is a driver for growth and innovation. Our approach to sustainability is built on three pillars: Citizenship, Stakeholder Management, and Impact Management.
“This award validates our efforts to create a sustainable and inclusive future for all our stakeholders, and we are committed to advancing continuous positive impact in the marketplace, workplace, environment, and communities we serve.”
Commenting on the award, Euromoney explained that the Awards for Excellence –a definitive annual awards programme of the global banking industry, represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after, and exceptionally difficult to demonstrate.”
FirstBank recently added to its awards kitty, Best SME Bank in Nigeria and Best Bank in Africa, Best Private Bank in Nigeria and Best Private Bank for Sustainable Investment in Africa by Global Finance for its leadership role in integrating sustainable practices into its banking operations, among other awards.
