By Jude Obuseh, For Agenda Watchdog, April 28, 2020
(AGENDAWATCHDOG) – Access Bank Plc, one of the major players in the Nigerian banking sector has added another feather to its cap with its ranking as Nigeria’s best-performing bank in Corporate Social Responsibility (CSR) and Sustainability for the year 2019.
This was contained in a publication by Forbes Africa, which based its ranking on the assessment of the impacts 910 selected companies made in their host communities, during the period in focus, through development projects, capacity building initiatives, youth engagement, Sports development, healthcare etc.
According to the Forbes report, the ranking took into cognisance Access Bank’s participation in impactful national projects, its recognitions and ratings from international award bodies, investment in CSR and sustainability in the period under review.
Access Bank has a corporate strategy and philosophy which places sustainability at its core. The bank ensures that its projects and initiatives are impactful and strategically linked with the United Nations Sustainable Development Goals.
The banks impressive successes in CSR, over the years have been due to its several strategic initiatives across the country. Some of the bank’s astounding CSR initiatives include, the-Malaria-to-Zero, the “W” Initiative, the Access Lagos City Marathon, health awareness programs, and the Green Bond Intitative.
Having launched the Nigerian Green Bond Market Development Programme in June 2018, Access Bank’s determination to promote sustainable growth through funding of projects at a lower cost of capital, led to the issuance of a N15 billion ($41 million) corporate green bond in 2019. The issue is the first-ever Climate Bonds Initiative certified corporate green bond in Africa.
Additionally, it is worthy of note that Access Bank dedicates a minimum of one percent of its Profit-Before-Tax to Sustainability. The Bank also championed the Malaria-to-Zero initiative, co-created the first disability inclusion hub in Nigeria, initiated and led the development of the Nigerian Sustainable Banking Principles and has brought about social and economic benefits to host communities across Nigeria through its employee volunteering scheme.