Case study: How Ecobank works with its clients and customers to encourage sustainable practices
Ecobank is the leading pan-African banking group, operating in 35 African nations, with international offices in Paris, London, Dubai, and Beijing. By the end of 2023, the Group reported total assets of $27.2 billion and total equity of $1.7 billion. Ecobank is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2023 Sustainability Report by Ecobank, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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With this case study you will see:
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- How Ecobank proceeded with stakeholder identification and consultation, and
- How Ecobank worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
Ecobank identifies its primary stakeholder groups by considering the Bank’s business activities and its influence on society. These stakeholders include customers, shareholders and analysts, employees, and society-at-large, each with varying expectations regarding the Bank’s conduct. Ecobank engages with these stakeholders through multiple channels, including digital platforms like websites and mobile apps, phone communication, and regular in-person meetings. The Bank also takes part in targeted initiatives such as conferences, client visits, and surveys. Regular interactions with key stakeholders allow Ecobank to prioritize important issues and ensure timely responses to their concerns.
How did Ecobank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 Sustainability Report Ecobank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Ecobank engages in meaningful and focused discussions about its customers’ needs regarding sustainability challenges and opportunities through multiple channels. The Bank’s internal policies, including Environmental and Social Risk and Credit Risk policies, shape its approach to client engagement. Ecobank works with its clients to ensure they adhere to its policy requirements and commitments.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by Ecobank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://ecobank.com/upload/publication/20240531051440650H3GTSATTQ5/20240531051331459z.pdf
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