FirstBank, West Africa’s leading financial institution, has won the prestigious Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance (ESG). This accolade underscores FirstBank’s role as a pioneer in sustainable banking practices during its 130 years of operation.
After a thorough and competitive selection process, FirstBank was honored with the Nigeria’s Best Bank for ESG title in 2024 by the esteemed Euromoney Awards for Excellence, according to a bank statement.
The award highlights FirstBank’s dedication to ESG initiatives in Nigeria, achieved through innovative financial solutions and projects. Euromoney recognized FirstBank’s achievements in implementing an ESG management system, which included screening N4.2 trillion in new transactions for ESG risks in 2024. The bank also supported Nigeria’s green transition by funding a $10 million solar energy project, which expands off-grid solar access in Africa and Asia through a pay-as-you-go model. Additionally, FirstBank committed N16 billion to develop four modular power plants for a major beer manufacturer, allowing a shift from diesel generators to more sustainable energy sources, thus reducing production costs. Furthermore, FirstBank launched a tree-planting campaign with the Nigeria Conservation Foundation, aiming to plant over 50,000 trees in 2024, reflecting its commitment to ESG principles.
Mrs. Folake Ani-Mumuney, the Group Head of Marketing & Corporate Communications, expressed excitement about the award: “We are thrilled to receive the Euromoney Award for Nigeria’s Best Bank in ESG. This recognition demonstrates our commitment to empowering our employees, businesses, and communities. At FirstBank, we see sustainability as a key driver of growth and innovation. Our approach focuses on Citizenship, Stakeholder Management, and Impact Management. This award validates our efforts to foster a sustainable and inclusive future for all our stakeholders, and we remain dedicated to making a positive impact in the marketplace, workplace, environment, and communities we serve.”
According to Euromoney, the “Awards for Excellence” is a leading global banking industry program that honors banks and bankers who stand out in a highly competitive field.
In addition to this award, FirstBank has recently received accolades such as Best SME Bank in Nigeria, Best Bank in Africa, Best Private Bank in Nigeria, and Best Private Bank for Sustainable Investment in Africa from Global Finance, further recognizing its exceptional leadership in sustainable banking practices.
Source: hallmarknews.com
