Banks Maximise Climate Act Bill To Promote Environmental Sustainability

Coalition of Nigerian Banks under the aegis of Nigeria Sustainability Banking Principle, (NSBP) have stressed the need to maximised the full potential of the Nigeria Climate Act legislative bill signed in 2021 by the former president Buhari’s administration, noting that, the move is apt to achieve renewable energy transition, green energy and environmental sustainability practices in the manufacturing sector and nation’s economy.

NSBP in collaboration with financial service experts, and volunteering groups added that, the Nigeria Climate Act bill signed into law by the President Buhari in November 2021 would gear up efforts to achieve its climate goals while building up long-term environmental sustainability impact with social and economic resilience.

Speaking on the sidelines of NSBP 10th anniversary and Walk4Nature event held at Muri Okunola park Victoria Island, Lagos Sustainability officer at WEMA Bank Plc, Oluwatoyin Adetunji reiterated the need to intensify efforts to bolster environmental awareness while stressing the need to promote the Nigeria Climate Act bill to increase environmental consciousness and drive awareness and sustainability in sectors.

She added that, financial inclusion, environmental sustainability, renewable energy transition, health, education amongst others are one of the core social investment pillars of the Nigeria Sustainability Banking Principle while noting that this informed WEMA Bank Green Finance Facility for SMEs to have access to financial Facility to cushion the effect on businesses, customers and potential clients with reduced interest rate.

Speaking on greener energy transition, she said, following the energy transition plan, the Nigeria Climate Act bill will address future sustainability of the Climate Act bill while assuring that it will promote environmental consciousness in areas of waste disposal, blue economy and disposable waste in beaches.

The Walk for Nature event was aimed at educating Lagos metropolis on the impact of dumping waste inappropriately, she stated.

Acknowledging the walk for nature event the sustainability officer said, they would need to avoid negative impacts on the environment and communities where possible, and if these impacts are unavoidable, they should be minimised or offset appropriately.

She stated that the grave impacts of climate change needs conscious effort to tackle it. With Nigeria Energy Transition plan and bold action to limit the impacts of climate change must be undertaken urgently.

To him, “we believe that adherence to these Principles will provide benefits to our businesses, our clients, our communities and our environment.

“The major gospel of today’s event is walking, which is an effective means we have consistently promoted towards combating health and environmental challenges. We must form the habit of walking to distances that are not too far, this actions improve our health as we do so.”

Highlighting the impact of the sensitization walk for nature, a sustainability officer at Polaris Bank, Omoyepe Ajose-Adeogun said this would promote awareness on how people should manage waste. Impact of dumping waste in the environment.

While outlining measures in line with the groups initiative, Ajose-Adeogun said, communities need constant sensitization on the proper ways to dispose waste materials.

“People need to understand the importance of proper waste disposal and not littering them.The impact of waste on the environment. We, as Bankers, will continue to align our operations with issues of sustainability by focusing on issues that put our environment at risk,” he said. 

Lead Communication at FSDH group, ,Babatunde Adenuga highlighted some of the various challenges the environment is facing and concluded that they, will continue to prioritize and focus on issues of sustainability essentially, aimed at addressing some of these challenges.

Adenuga asserted that human demand on natural resources has become unbearably heavy, with ecosystem degradation compromising the well-being of over people and a growing tide of pollution. While knowledge and tools exist to deal with this, leadership and cooperation are needed in place to curb it.

“To a large extent it behooves on us as a people and a nation to form a global partnership to care for the earth. Overcoming the environmental challenges now confronting us requires effective management of our environment through the concerted efforts of all and sundry in order to preserve nature and our natural resources,” he said.