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.

Fidelity Bank remains committed to meaningful stakeholder engagement as a key part of its sustainability approach and the application of its principles. The bank identifies and prioritizes stakeholders based on their relevance to its operations, the potential impact of its activities on them, and their interest in sustainability matters. Fidelity Bank’s engagement practices are guided by the principles of inclusiveness, transparency, and accountability. Insights gained from these interactions inform the bank’s materiality assessments, influence policy decisions, and support the ongoing enhancement of its sustainability initiatives.

Key stakeholder groups and engagement methods include:

• Customers: Connected through feedback surveys, social media, focus groups, customer service channels, relationship managers, and complaints management systems to understand their needs and expectations.
• Employees: Engaged via the intranet, staff meetings, newsletters, training sessions, surveys, performance appraisals, employee resource groups, and whistleblowing channels to foster alignment with the bank’s objectives and promote a responsible workplace.
• Investors and Shareholders: Consulted during Annual General Meetings, investor presentations, sustainability reports, investor relations platforms, and analyst calls to share performance updates and strategic insights.
• Regulators: Interacted with through regulatory submissions, consultations, formal meetings, and participation in industry working groups to ensure compliance and contribute to sector policy development.
• Suppliers: Managed through audits, contractual agreements, workshops, and review meetings to promote responsible sourcing and uphold ethical standards.
• Communities: Engaged via town hall meetings, collaborations with local organizations, social investment programs, and grievance mechanisms to support local development and address community concerns.
• NGOs and Civil Society: Collaborated on specific environmental and social projects and participated in multi-stakeholder initiatives promoting sustainable development.
• Media: Engaged through press releases, briefings, interviews, and social media to ensure transparency and communicate important updates.
• Government: Interacted with relevant ministries, departments, and agencies through meetings, conferences, and joint initiatives, especially on regulatory and policy issues.
• Industry Peers: Participated in industry associations, benchmarking activities, and collaborative platforms to share knowledge and advance collective sustainability efforts.

These stakeholder engagement efforts have been instrumental in shaping Fidelity Bank’s sustainability strategy, enhancing transparency, and strengthening its social license to operate.

How does Fidelity Bank promote a culture of responsible banking among its employees?

In its 2024 PRB Progress Report Fidelity Bank reports that it took the following actions to promote a culture of responsible banking among its employees:

Fidelity Bank is dedicated to fostering a culture of responsible banking throughout all levels of the organization. This commitment begins with training during induction for both new and experienced hires, where employees are introduced to the bank’s core values, ethics, and sustainability expectations. Fidelity Bank’s Crest Academy spearheads employee learning and development by providing structured training programs that incorporate sustainability and climate-related content.

Training needs are identified through performance evaluations and collaboration with line managers, while employees are also encouraged to request training aligned with their personal development goals. Sustainability and climate-focused modules are integrated into the overall curriculum, with the Crest Academy working closely with the Sustainable Banking team to ensure alignment with the bank’s strategic objectives.

Fidelity Bank delivers training via multiple channels, including its Electronic Learning Management System (ELMS), virtual sessions on Microsoft Teams, and instructor-led workshops. Knowledge retention is supported through self-paced modules, quizzes, and facilitated discussions where appropriate.

Beyond formal training, the Sustainable Banking team regularly disseminates communications on sustainability and climate issues to raise awareness across the bank, in partnership with the Brand and Communications Division.

Additionally, board members and senior management receive specialized training on sustainability and climate-related topics, including relevant reporting standards such as IFRS S1 and S2. Sustainability performance is integrated into Fidelity Bank’s appraisal processes and reflected in sustainability staff and executive incentive programs, with ongoing efforts to strengthen the connection between remuneration and ESG outcomes.

 

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

• • • 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.

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 Fidelity Bank, 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://www.fidelitybank.ng/documents/Fidelity-Bank-Sustainability-And-Climate-Report-2024.pdf

Note to Fidelity Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

As a leading financial institution, CIB believes that meaningful engagement with key stakeholders enables the bank to advance its ESG goals and generate value for investors, partners, clients, and the wider community. CIB facilitates dialogues with experts from the heavy-industry sectors it finances to discuss emerging trends, challenges, risks, and opportunities. Collaborations with clients, government ministries, Multilateral Development Banks (MDBs), and Development Finance Institutions (DFIs) strengthen CIB’s sustainable finance initiatives. Its stakeholders include Development Financial Institutions, international organizations such as UNEP-FI, GFANZ, WEF, and CDP, governmental bodies and academia.

As an active member of the Net-Zero Banking Alliance (NZBA) and the Principles for Responsible Banking (PRB), CIB plays a crucial role in influencing global banking practices. Participation in the NZBA Steering Group Meeting in London and the PRB Board meeting in the UK highlights its dedication to aligning banking operations worldwide with the goal of net-zero emissions by 2050 and promoting responsible banking standards.

CIB’s international engagement also includes significant contributions to the Glasgow Financial Alliance for Net-Zero (GFANZ), where it is a key member of both the Africa Advisory Board and the Africa Network Working Groups. These platforms enable CIB to shape climate action policies across Africa, emphasizing the importance of sustainability in financial practices.

Furthermore, CIB actively participates in global forums such as MENA Climate Week in Riyadh, where it hosted a side event on transition finance, and the Africa Climate Summit in Nairobi, highlighting the climate challenges and opportunities on the continent. Its involvement in the World Economic Forum’s Green Hydrogen Initiative and discussions on transitioning to green energy sources like hydrogen demonstrate CIB’s commitment to innovative climate solutions.

CIB’s participation at COP28 was especially significant, where it not only took part in panels on climate finance and green building initiatives but also played a strategic role in advocating for the expansion of net-zero transition efforts and the enhancement of regional carbon markets. Its active contribution to shaping discussions at such international forums, combined with its leadership in regional initiatives, highlights CIB’s central role in advancing both global and regional sustainability goals. Through these efforts, CIB has solidified its position as a leader in integrating environmental considerations into banking practices, championing the cause of sustainable finance.

CIB also proudly celebrates the achievements of the “Choices and Voices” event organized by the Women’s Initiatives Network (WIN) on December 14th, 2023. This event was designed to empower women within the bank and boost their confidence in their ability to succeed and lead. Since its launch in 2019, WIN has been a strong advocate for diversity and inclusion at CIB, working to empower women across the organization and foster a more equitable workplace. The initiative regularly hosts meetings and seminars featuring prominent female leaders from the business community, focusing on strategies for success, career growth, overcoming challenges, and leadership development. This ongoing commitment demonstrates CIB’s dedication to creating an inclusive and supportive environment for all employees.

CIB took part in the 6th Job Fair at Nahda University in Beni Suef as part of the “Your Dream Matters” initiative. This program aims to empower women and strengthen their role within the banking industry, highlighting the significance of women’s workforce participation and providing all graduates with opportunities to apply for jobs. CIB’s participation demonstrates its dedication to supporting gender diversity and offering career prospects for young professionals.

In addition, CIB sponsored the “Financial Careers” job conference to inspire and guide young professionals in their career development. The event provided a valuable platform for connecting with talented youth eager to enter the financial sector. This initiative reflects CIB’s ongoing commitment to engaging in Egypt’s leading professional events and nurturing the next generation of financial experts.

CIB also participated in the fourth edition of the American University in Cairo’s Business Forum, where it discussed recent developments in the S1 and S2 International Financial Reporting Standards (IFRS) related to climate disclosures and their implementation in Egypt. The forum brought together experts from academia, business, regulatory bodies, private sector firms, auditors, and consulting organizations to explore the implications for investors and companies, as well as regional opportunities and challenges. CIB emphasized the importance of institutional collaboration in adopting these standards, reaffirming its leadership in advancing sustainability initiatives and integrating environmental considerations into banking practices.

How does CIB promote a culture of responsible banking among its employees?

In its 2024 PRB Progress Report CIB reports that it took the following actions to promote a culture of responsible banking among its employees:

To drive systemic change towards embedding sustainability into its policies and culture, CIB emphasizes and advocates for the importance of sustainable finance education (SFE). Unlike traditional finance education, which has historically concentrated on teaching the basics of profit-making, SFE highlights the vital link between finance and ESG (Environmental, Social, and Governance) factors. Recognizing that integrating ESG principles across its policies and culture requires a deep understanding of their significance for business growth as well as societal and environmental well-being, CIB views SFE as a critical pillar in this effort. In line with its mission to promote sustainable finance throughout its operations, CIB leverages the expertise of its Learning and Development team to deliver up-to-date, best-practice training and capacity-building initiatives on sustainable finance for its employees, clients, and other stakeholders, aligned with the different stages of the framework’s development.

An introductory sustainable finance module, designed to highlight the fundamental principles and pillars of sustainability, is available to all CIB staff across the organization. In addition, various tailored and off-the-shelf sustainability courses are offered, targeting specific areas, while sustainable finance education has been fully integrated into CIB’s flagship Credit, SME, and Retail Courses.

Furthermore, CIB has entered into a Memorandum of Understanding (MoU) with LinkedIn Learning to enhance digital education for its employees. This collaboration aims to broaden employees’ technological knowledge through LinkedIn Learning’s extensive library of over 20,000 expert-led instructional videos. By providing access to this on-demand educational platform, CIB seeks to support the country’s economic development through education and enable its staff to keep pace with industry changes.

CIB believes that fulfilling its climate and financial inclusion commitments depends significantly on well-informed and engaged employees who can effectively promote the bank’s sustainability products and services. Developing a culture aligned with its strategic vision is essential to this effort.

 

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

• • • 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.

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 CIB, 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://www.cibeg.com/-/media/project/downloads/about-cib/esg/portfolio-impact-assessment/2024-portfolio-impact-assessment.pdf

Note to CIB: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

ADIB consistently maintains transparent and ongoing communication with its key stakeholders, promoting constructive dialogue to identify areas of significant impact and material topics that are relevant to the bank.

ADIB’s Double Materiality Assessment serves as the primary method for stakeholder engagement with regard to impact and materiality. Through this process, stakeholders such as staff, senior management, the Board of Directors, customers, suppliers, and community members were identified.

Beyond this assessment, ADIB’s stakeholder management approach involves continuous engagement with the bank’s key stakeholders, recognizing their vital role in shaping ADIB’s strategic direction. ADIB identifies key stakeholders as those most affected by its operations and those with the greatest influence over the bank’s operations, including management, investors, customers, employees, partners, communities, and regulators. To facilitate effective engagement, ADIB employs multiple channels to proactively communicate, enabling the bank to understand, address, and respond to their concerns and interests. Insights obtained from these interactions are vital in understanding the ESG factors material to ADIB’s operations, guiding the development and implementation of initiatives aligned with stakeholder expectations and promoting sustainable growth.

In addition, ADIB’s sustainability performance has been recognized by external ESG rating agencies, notably with an AA MSCI ESG rating that highlights its strong ESG risk management and performance. This external assessment also affirms the quality and transparency of ADIB’s public disclosures.

Details of ADIB’s overall stakeholder management approach, which enables ADIB to maintain a principled approach to banking and improve its impacts, can be found below:

Stakeholder	Commitment	Engagement mode
Shareholders	ADIB provides timely and detailed disclosures to enable investors to make informed investment decisions.	• Quarterly result briefings • Investor conferences • One-on-one and group meetings with over 250 investors, conducted • AGM • Annual report • Investor relations app
Customers	ADIB interacts with customers to better understand their evolving needs so that it can provide the right financial Shari’a compliant solutions for them.	• Multiple service channels, including digital banking, call centres and branches • Regular engagements via relationship managers and customer Majles • Active interaction and prompt follow-up to queries/ feedback received via social media platforms • Regular satisfaction surveys • Customer Mail, to facilitate dialogue between customers from all segments and the senior bank executives to directly engage in dialog and share their feedback
Staff	ADIB communicates with its staff via multiple channels to ensure that its employees feel connected and informed. Their opinions on material topics of sustainability are also essential to understand the impact, risks and opportunities of the topic on the business. This will play a pivotal role in shaping ADIB’s ESG strategy.	• Internal communications where employees have an open discussion with the GCEO • Group-wide town hall hosted by the GCEO • Regular department events held by senior management • Annual “My Voice” Employee Engagement survey • Employee newsletter • Employee WhatsApp group • Mailer and intranet
Community and partners.	ADIB is committed to engaging with the community and partners to better understand the role it can play in addressing societal needs and gaps.	• Regular events and conversations with Businesses and community partners to understand the social landscape and how ADIB can partner to create impact. • Connection with government bodies and associations • Community engagement and partnerships within the public • Free financial literacy programmes
Regulators	ADIB strives to be a good corporate citizen and advocate by providing input to and supporting the implementation of relevant local and global laws, regulations, guidelines, and public policies.	• Regular engagement sessions with regulators and government bodies • Sharing insights and providing feedback to regulators • Actively participating in regulatory working groups, committees or forums • Actively participating in local, regional, and international industry forums on financial regulation • Actively responding to, or providing feedback on Consultation Papers, draft regulations or guidelines, or policy statements or papers

How does ADIB promote a culture of responsible banking among its employees?

In its 2024 PRB Responsible Banking Progress Statement ADIB reports that it took the following actions to promote a culture of responsible banking among its employees:

ADIB is dedicated to integrating responsible banking principles into its organizational culture, ensuring that employees at every level understand their role in achieving positive environmental, social, and governance (ESG) outcomes.

Capacity Building and ESG Training

Mandatory ESG Training: All staff participate in comprehensive ESG training modules as part of ADIB’s mandatory learning program, with a completion rate exceeding 90%.

Specialist Training for Key Functions: ADIB provides targeted, specialized training to strengthen expertise within critical business units, including compliance, risk management, and frontline teams. Key topics covered include:

• ESG Investing
• Sustainable Finance
• Green Financing
• ESG & Climate Risk and Stress Testing
• Sustainable Procurement
• Net Zero Banking & the Circular Economy

These programmes enhance technical skills and embed sustainability considerations into product development, investment decisions, procurement, and risk management processes.

Leadership Communication and Strategic Alignment

Sustainability is a fundamental organizational priority, reinforced through the “Sustainable Future” pillar in ADIB’s corporate strategy. Executive leaders regularly communicate sustainability goals and performance expectations, ensuring alignment with the bank’s long-term vision and the Principles for Responsible Banking. Additionally, ADIB’s governance framework encourages leadership dialogue on ESG and sustainability issues, solidifying the bank’s commitment to responsible banking. The ESG Management Committee and ESG Board Committee provide strategic guidance and leadership communication to prioritize sustainability across all levels of the organization.

Integration into Performance Management

ADIB has incorporated sustainability KPIs into its balanced scorecards to promote accountability and performance:

Bank-wide: The Sustainable Future strategic pillar cascades into divisional objectives, aligning all units with ESG priorities.

Business Units: Under ADIB’s Sustainable Finance Strategy for 2030, financial KPIs are embedded into business unit scorecards to support its AED 60 billion sustainable finance target by 2030. Annual financial targets are established and monitored to track progress toward this goal.

Through mandatory training, targeted capability development, leadership engagement, and integration into performance and reward systems, ADIB fosters a deeply ingrained culture of responsible banking that supports the effective implementation of the UNEP FI Principles for Responsible Banking.

 

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

• • • 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.

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 ADIB, 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://www.adib.ae/-/media/project/adib/adibsite/docs/esg-and-sustainability/disclosures/prb-progress-statement-2024.pdf

Note to ADIB: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

ALEXBANK places great emphasis on engaging stakeholders in responsible banking, understanding their essential contribution to its sustainability efforts. The bank’s stakeholders include its Employees, Senior Management, Customers, Suppliers and Business Partners, Communities and NGOs, Governments and Regulators, and Shareholders.

ALEXBANK prioritizes key material topics across its stakeholders. For employees, the bank focuses on retention, diversity & inclusion, health & safety, data security, and integrity. Senior management emphasizes governance, ESG risk management, and integrity. For customers, ALEXBANK’s key topics include responsible lending, green finance, sustainable agribusiness, financial inclusion, data protection, and customer experience. Suppliers and business partners are engaged on integrity, responsible lending, green finance, ESG risk management, and digital accessibility, while Communities and NGOs are key to responsible lending, green finance, sustainable agribusiness, financial inclusion, and community empowerment. For governments and regulators, ALEXBANK focuses on responsible lending, green finance, environmental stewardship, governance, and data security. For shareholders, good governance and ESG risk management are key.

Partnerships for Impact

• ALEXBANK collaborates with the European Investment Bank (EIB) through various initiatives aimed at promoting sustainable development in Egypt. Under the Green Economy Financing Facility (GEFF), ALEXBANK and the EIB committed a total of $15 million to finance renewable energy adoption and energy efficiency projects in Egypt’s industrial, commercial, and agricultural sectors.
• In addition to this, in October 2024, ALEXBANK and the EIB issued a second disbursement of USD 7.5 million for sustainable energy solutions. This collaboration, supported by the European Bank for Reconstruction and Development (EBRD) and the European Union, seeks to improve energy efficiency and renewable energy adoption in privately owned commercial buildings across Egypt. Eligible businesses will receive financial incentives of up to 2% of the facility’s aggregate amount, with sub-borrowers benefiting from incentives ranging from 10% to 15%.
• ALEXBANK has partnered with Life Vision to improve the livelihoods of 400 female farmers in Upper Egypt. The project sets up Farmer Field Schools & Farm Business Schools, providing 36 training sessions over 10 months on advanced farming and irrigation practices. The training curriculum strengthens smallholders’ farmer’s capacity and productivity. In addition, participants received 5 financial literacy sessions as part of the Central Bank of Egypt’s financial inclusion initiatives.
• 36 sessions
• Total project amount: 1200000
• Direct Beneficiaries: 1161 farmers aged 36-45
• ALEXBANK, in collaboration with WFP and CBE, launched the project “Innovative Financing by the Banking Sector to transform smallholder farmers in Upper Egypt.” The project started in July 2023 in upper Egypt, specifically in Hayah Kareema villages, focusing on financing interventions to increase productivity. By December 2025, activities were implemented in 2 villages in AlMinya Governorate to improve water use efficiency and create sustainable livelihoods.
• Total Project amount: 3000000
• Total Direct Beneficiaries: 6054
• Through a partnership with GIZ Egypt, ALEXBANK seeks to promote financial inclusion in rural Egypt. This collaboration focuses on farmers in the Beni Suef and Minya governorates, providing access to ALEXBANK’s financial services and financial literacy programs. By the end of 2024, 8 financial literacy sessions were conducted as part of the Central Bank of Egypt’s financial inclusion (FI) activation. This program is intended to equip farmers with the necessary knowledge to make informed financial decisions, helping them maximize their income.
• ALEXBANK remains committed to empowering rural women entrepreneurs in agribusiness by collaborating with the Alinea International under the Opportunities for Women in Agribusiness project (OWAP). In 2023, ALEXBANK supported 50 women-led environmentally sustainable startups in the Beni Suef and Minya governorates. These women were provided with essential resources such as financial education and diverse funding sources. In a final competition held in October 2024 virtually, 10 women entrepreneurs were awarded 10k each to help expand their businesses.
• Total project amount: 100,000
• 10 awarded female-led startups
• Direct Beneficiaries: 270 (190 female & 80 male)
• In October 2024, ALEXBANK, as part of the Intesa Sanpaolo Group, signed a five-year MoU with Cassa Depositi e Prestiti S.p.A. (CDP), Italy’s National Promotion Institution. The agreement is intended to improve access to microcredit and expertise for Egyptian agricultural SMEs, promoting sustainable development in Egypt’s agribusiness sector.

How does ALEXBANK promote a culture of responsible banking among its employees?

In its 2024 PRB Reporting and Self-Assessment Template ALEXBANK reports that it took the following actions to promote a culture of responsible banking among its employees:

ALEXBANK is improving staff expertise in ESG through training and capacity-building initiatives. It advances financial inclusion by increasing access to digital products and services for underserved communities. Additionally, ALEXBANK supports Retail, Corporate, and SME clients in their ESG transition by offering customized sustainable finance solutions.

Training Topics	Percentage of Participation (%)
Introduction to Sustainable Finance	0.59%
Environment Risk Management	61.70%
Environmental & Social Risk Management	0.07%
Setting the sustainable finance strategy and goals	0.09%
Assessing the environmental & social projects to be financed	0.70%
Offering sustainable banking products and services	0.82%
Measuring the bank’s carbon footprint (because of internal activities)	0.02%
The Three Elements (Environment, Society & Governance)	0.18%
Financial Inclusion	5.07%
WMSME Gender Data, Driving Business Decisions	0.02%
Workshop on Integrating Sustainability Principles into Banking Practices	0.05%

ALEXBANK encourages financing initiatives focused on environmental sustainability and has established internal policies to oversee ESG-related portfolio risks. The bank is dedicated to sustainable operations by practicing responsible resource management and green procurement. Additionally, the Environmental and Social Risk Management System will be enhanced to strengthen risk governance, and sustainability reporting will be implemented to monitor progress and accomplishments.

 

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

• • • 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.

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 ALEXBANK, 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://www.alexbank.com/en/retail/our-group/sustainability/publications.html

Note to ALEXBANK: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

Fidelity Bank is dedicated to maintaining strong stakeholder engagement as a fundamental element of its sustainability strategy and the application of the principles. Fidelity Bank identifies and prioritizes stakeholders according to their relevance to its operations, the extent to which the bank’s activities may affect them, and their level of interest in sustainability issues. Fidelity Bank’s engagement approach is rooted in inclusiveness, transparency, and accountability. The insights gained from these interactions help the bank conduct materiality assessments, inform policy development, and drive ongoing enhancements to its sustainability initiatives.

Key stakeholder groups and engagement methods include:

• Customers: Engaged through feedback surveys, social media, focus groups, customer service channels, relationship managers, and complaints management systems to understand their needs and expectations.
• Employees: Engaged via the intranet, staff meetings, newsletters, training sessions, surveys, performance appraisals, employee resource groups, and whistleblowing channels to foster alignment with the bank’s goals and promote a responsible workplace.
• Investors and Shareholders: Consulted through Annual General Meetings, investor presentations, sustainability reports, investor relations platforms, and analyst calls to share performance updates and strategic insights.
• Regulators: Interacted with through regulatory submissions, consultations, formal meetings, and participation in industry working groups to ensure compliance and contribute to sector policy development.
• Suppliers: Managed through audits, contractual agreements, workshops, and review meetings to promote responsible sourcing and alignment with Fidelity Bank’s ethical standards.
• Communities: Engaged via town hall meetings, collaborations with local organizations, social investment programs, and grievance mechanisms to support local development and address community concerns.
• NGOs and Civil Society: Collaborated on specific environmental and social projects and through participation in multi-stakeholder initiatives promoting sustainable development.
• Media: Engaged through press releases, briefings, interviews, and social media to ensure transparency and communicate important updates.
• Government: Interacted with relevant ministries, departments, and agencies through meetings, conferences, and joint initiatives, especially on regulatory and policy issues.
• Industry Peers: Participated in industry associations, benchmarking activities, and collaborative platforms to share knowledge and advance collective sustainability efforts.

These stakeholder engagement efforts have been vital in shaping Fidelity Bank’s sustainability strategy, enhancing transparency, and strengthening its social license to operate.

How did Fidelity Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Progress Report Fidelity Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Fidelity Bank is unlocking new strategic business opportunities through the expansion of its sustainable finance offerings, aligning with the dual objectives of enhancing positive impacts and minimizing negative ones across its portfolio. In 2024, the bank made significant progress in inclusive finance by increasing access and strengthening engagement with underserved groups, including women, youth, MSMEs, and rural communities. Over 7,000 student accounts were opened via campus activations, while rural women received financial education and were onboarded as POS agents. The Agency Banking network expanded to over 35,000 agents with more than 7,000 POS terminals, improving financial access nationwide. Additionally, more than 6,000 women received digital skills training, empowering female-led enterprises.

To facilitate a just and low-carbon transition, Fidelity Bank increased its green finance portfolio. In 2024, the bank completed 482 transactions under green initiatives such as the Fidelity Easy Asset Lease Scheme (Solar Power) and Green Energy Financing, totaling ₦509.01 million. Fidelity Bank also provides funding to businesses implementing green initiatives across various sectors and is developing the Fidelity Green App, a digital platform that connects green product providers and consumers with embedded financing options. Further sustainable finance solutions are in development to meet rising demand.

Fidelity Bank’s sustainable finance efforts contribute to multiple SDGs, including SDG 3 (Good Health and Wellbeing), SDG 6 (Clean Water and Sanitation), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry Innovation and Infrastructure), SDG 10 (Reduced Inequalities), and SDG 17 (Partnerships for the Goals). Noteworthy initiatives include donating a solar-powered water facility serving 8,000 people, launching Fidelity Send to lower remittance costs and improve financial inclusion, and establishing a new SME Hub to foster innovation and collaboration.

The bank also plays a leading role in promoting financial literacy at the national level. As Chair and Secretariat of the Financial Literacy and Public Enlightenment Subcommittee of the Bankers’ Committee, Fidelity Bank contributes to shaping Nigeria’s financial inclusion strategy through awareness campaigns, educational programs, and stakeholder engagement.

All sustainability-related activities are guided by internal frameworks and aligned with international standards and taxonomies. Fidelity Bank’s definition of green finance is comprehensive, incorporating criteria such as alignment with designated use of proceeds in investor offer letters, adherence to international standards like the ICMA Green Bond Principles, and compliance with green taxonomies of development banks. These efforts aim to foster long-term value creation, inclusive economic growth, and climate resilience across clients and communities.

 

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

• • • 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.

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 Fidelity Bank, 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://www.fidelitybank.ng/documents/Fidelity-Bank-Sustainability-And-Climate-Report-2024.pdf

Note to Fidelity Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

Fidelity Bank remains dedicated to meaningful stakeholder engagement as a fundamental part of its sustainability approach and the application of its principles. The bank identifies and prioritizes stakeholders based on their relevance to its operations, the potential impact of its activities on them, and their interest in sustainability matters. Fidelity Bank’s engagement practices are guided by the principles of inclusiveness, transparency, and accountability. Insights gained from these interactions inform the bank’s materiality assessments, influence policy decisions, and support the ongoing enhancement of its sustainability initiatives.

Key stakeholder groups and engagement methods include:

• Customers: Connected through feedback surveys, social media, focus groups, customer service channels, relationship managers, and complaints management systems to understand their needs and expectations.
• Employees: Engaged via the intranet, staff meetings, newsletters, training sessions, surveys, performance appraisals, employee resource groups, and whistleblowing channels to foster alignment with the bank’s objectives and promote a responsible workplace.
• Investors and Shareholders: Consulted during Annual General Meetings, investor presentations, sustainability reports, investor relations platforms, and analyst calls to share performance updates and strategic insights.
• Regulators: Interacted with through regulatory submissions, consultations, formal meetings, and participation in industry working groups to ensure compliance and contribute to sector policy development.
• Suppliers: Managed through audits, contractual agreements, workshops, and review meetings to promote responsible sourcing and uphold ethical standards.
• Communities: Engaged via town hall meetings, collaborations with local organizations, social investment programs, and grievance mechanisms to support local development and address community concerns.
• NGOs and Civil Society: Collaborated on specific environmental and social projects and participated in multi-stakeholder initiatives promoting sustainable development.
• Media: Engaged through press releases, briefings, interviews, and social media to ensure transparency and communicate important updates.
• Government: Interacted with relevant ministries, departments, and agencies through meetings, conferences, and joint initiatives, especially on regulatory and policy issues.
• Industry Peers: Participated in industry associations, benchmarking activities, and collaborative platforms to share knowledge and advance collective sustainability efforts.

These stakeholder engagement efforts have been vital in shaping Fidelity Bank’s sustainability strategy, enhancing transparency, and strengthening its social license to operate.

How did Fidelity Bank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 PRB Progress Report Fidelity Bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Fidelity Bank actively engages clients and customers to promote sustainable practices and facilitate the transition toward a more inclusive and low-carbon economy. The bank’s engagement strategy integrates product innovation, awareness campaigns, policy enforcement, and ongoing client support.

Fidelity Bank maintains regular communication through calls, emails, various media platforms, and other channels to raise sustainability awareness, encourage responsible business conduct, and share pertinent information, including updates on regulatory expectations and environmental, social, and governance (ESG) best practices. As part of its lending procedures, environmental and social (E&S) conditions are incorporated into offer letters for borrowing clients. Based on the E&S risk classification of their businesses, clients are required to submit quarterly compliance reports. The bank also conducts site visits to verify compliance and provide guidance where necessary.

To enable sustainable economic activities, Fidelity Bank offers customized green financing solutions. In 2024, the bank facilitated 482 transactions through its green products, including the Fidelity Easy Asset Lease Scheme (Solar Power) and Green Energy Financing, totalling ₦509,006,379. Additionally, the bank is developing new sustainable offerings, such as the Fidelity Green App—a digital platform designed to connect providers and consumers of green products and services. Further green products are under consideration to assist clients in adopting sustainable business models.

These initiatives not only strengthen client relationships but also reinforce Fidelity Bank’s commitment to responsible banking and contribute to broader environmental and social outcomes.

 

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

• • • 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.

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 Fidelity Bank, 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://www.fidelitybank.ng/documents/Fidelity-Bank-Sustainability-And-Climate-Report-2024.pdf

Note to Fidelity Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

In line with its commitment to corporate social responsibility, Orabank Group has conducted a thorough process to identify and map its stakeholders, in accordance with Principle #1 of the ISO 26000 standard. Orabank Group’s approach is grounded in GRI standards, ensuring a rigorous and standardized methodology. The process started with a review of relevant documents and a benchmarking of international and sector-specific practices, followed by an assessment of how Orabank Group engages with its stakeholders. This enabled Orabank Group to categorize its stakeholders into homogeneous groups and sub-groups, allowing for a deeper understanding of their expectations and priorities.

After completing the stakeholder mapping, the results were presented to the Steering Committee, composed of the Communications Departments from the countries where Oragroup operates. A collaborative exercise followed to assess the criticality of each stakeholder group and to validate their prioritization. This process enabled Orabank Group to concentrate its efforts on the most influential and relevant stakeholders for its sustainability initiatives.

Recognizing its role as a significant economic player, Orabank Group is committed to a proactive corporate social responsibility approach. This strategy not only helps Orabank Group contribute to the sustainable economic development of the countries where it operates but also supports the overall performance of the Group. Orabank Group incorporates the key interests of its stakeholders while adopting a pragmatic and realistic perspective on the specific challenges faced in each region and business sector.

Ultimately, the quality of service provided by Oragroup depends on several factors: the dedication of its employees, collaboration with its suppliers and partners, and the trust Orabank Group establishes with its customers, investors, and other stakeholders. Orabank Group’s business model is built on these strong relationships, which ensure the sustainability of its activities and satisfy the expectations of its stakeholders.

How does Orabank Group promote a culture of responsible banking among its employees?

In its 2024 PRB Reporting and Self-Assessment Template Orabank Group reports that it took the following actions to promote a culture of responsible banking among its employees:

Orabank Group has undertaken various initiatives to foster a culture of responsible banking among its staff. Since 2014, the Group has launched an online Corporate Social Responsibility (CSR) training program designed to raise employees’ awareness of sustainable development issues and help them integrate these principles into daily operations. This training is accessible to all staff members, with special modules tailored for customer-facing employees, focusing on incorporating ESG (Environmental, Social, and Governance) criteria into their roles. By June 2023, over 1,700 employees had completed the program, strengthening Oragroup’s collective commitment to responsible banking practices.

Meanwhile, Orabank Group has actively involved its management and leaders in promoting the CSR vision by organizing seminars and workshops aimed at clarifying strategic goals and spreading the bank’s core values. Communicating sustainability issues is a fundamental aspect of the internal management approach, helping to strengthen the teams’ dedication to the Group’s principles.

Finally, CSR is incorporated into employee performance management at Oragroup. The Group ties certain performance metrics to sustainability objectives, motivating employees to embed these principles into their everyday activities. While the specifics of compensation structures are not explicitly outlined, it is evident that integrating CSR into performance goals fosters a culture of responsible banking. Collectively, these efforts contribute to establishing Orabank Group as a proactive institution dedicated to promoting more inclusive and sustainable finance across Africa.

 

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

• • • 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.

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 Orabank Group, 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://www.orabank-reporting.fr/wp-content/uploads/2025/05/PRB-Reporting-and-Self-Assessment-ORAGROUP-ENG.pdf

Note to Orabank Group: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

Zenith Bank’s stakeholders are defined as groups or individuals with an interest in the bank and who are affected by its activities, products, or services. Zenith Bank’s stakeholders include investors, employees, customers, suppliers, communities, industry peers, local and national government agencies, media, non-governmental organizations (NGOs), and international institutions. Through a comprehensive stakeholder engagement and management process, all these groups are considered in the bank’s responsible business decision-making.

Some of the key concerns raised by Zenith Bank’s stakeholder groups include:

• Employees: health and safety, compensation and benefits, training and development, work-life balance, and employee volunteering.
• Investors: financial performance, return on investments, investor relations, sustainable finance, and transparent communication.
• Customers: information security awareness, processing time for electronic transactions, claims and dispute resolution, transaction fees and charges, updates and offers on products and services, incentives, and access to cash.
• Suppliers: policy reviews, payment cycles, adherence to signed Service Level Agreements (SLAs), complaint resolution, Environmental & Social (E&S) risk considerations, information security and privacy awareness, monitoring, and evaluation.
• Government: foreign exchange rate practices, regulatory compliance, banking reforms, effective risk management and systemic risk prevention, lending to the real sector—particularly SMEs—anti-corruption initiatives, anti-money laundering efforts, and financial inclusion.

How did Zenith Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template Zenith Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Climate Action — Zenith Bank’s Climate Risk Management approach enables it to effectively evaluate its climate risk exposures across its operations, credit activities, and investments. This helps the bank to identify and implement actions aimed at further reducing its carbon footprint. Additionally, Zenith Bank continues to engage stakeholders and conduct training sessions, including employee training, to explore opportunities in climate risk management for its customers.

Food Security — Projects under the 100for100 Policy on Production and Productivity (PPP) are designed to significantly boost domestic production and productivity, reduce reliance on imports, increase non-oil exports, and enhance the foreign exchange generating capacity. This initiative is carried out in collaboration with relevant stakeholders, focusing on both microeconomic and macroeconomic impacts, such as contributions to GDP and job creation.

 

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

• • • 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.

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 Zenith Bank, 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://digital.zenithbank.com/sustainability_report/UNEPFI-PRB-Reporting-and-Self-Assessment-2024.pdf

Note to Zenith Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

At Wema Bank, stakeholders play an essential role in advancing the bank’s sustainability initiatives. Wema Bank has recognized its key stakeholder groups as investors and shareholders, employees, customers, suppliers and vendors, local communities, partners such as NGOs and social enterprises, government and regulatory bodies, and the media. Ongoing engagement with these groups enables Wema Bank to identify their priorities and gather valuable insights to effectively address their concerns. Collaborating with stakeholders also helps the bank achieve its strategic objectives.

Wema Bank’s stakeholder engagement activities are customized to suit each group, ranging from formal meetings to informal interactions. Through these engagements and its dedication to enhancing lives and creating value for stakeholders, Wema Bank focuses on prioritizing and improving the key areas identified.

Wema Bank’s stakeholder engagement processes and materiality matrix are clearly articulated in its report.

How did Wema Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Report Wema Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

1. Microlending: Wema Bank has expanded access to financial services and loans for underserved populations through microloans accessible via USSD. This initiative promotes financial inclusion, supports economic growth, and helps reduce inequality.
2. Impact Financing: Wema Bank has increased its focus on green financing by offering loans and financial products that support environmentally sustainable projects. This includes funding for renewable energy initiatives, energy-efficient infrastructure, and sustainable agriculture.
3. Sustainable Development Goals (SDGs) Alignment: Wema Bank’s business strategy is closely aligned with the SDGs, ensuring that its lending and investment decisions contribute to sustainable development. The bank prioritizes projects that generate positive social and environmental impacts.
4. Environmental and Social Risk Management: Wema Bank has implemented comprehensive and robust environmental and social risk management frameworks to assess and mitigate potential negative impacts of its lending and investment activities. This includes conducting environmental impact assessments for high-risk projects and promoting sustainable practices among clients, ensuring that its business operations contribute positively to society and the environment.
5. Stakeholder Engagement: Wema Bank actively engages with stakeholders—including customers, employees, and community members—to understand their needs and expectations. This collaborative approach helps the bank identify new opportunities for positive impact and make sure that its initiatives are aligned with societal goals.

 

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

• • • 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.

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 Wema Bank, 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://wemaprodstorage.blob.core.windows.net/report-upload/638991399040206013_2024_sustainability_report_Wema_Bank.pdf

Note to Wema Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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.

Proactively and responsibly engage, consult, and collaborate with stakeholders to support the achievement of the bank’s objectives.

BOAD is committed to listening to the expectations of its stakeholders. The bank actively engages with key stakeholders, including member countries, the private sector, investors, employees, and regulators. Their insights are vital for understanding the impacts, risks, and opportunities related to the sustainability issues BOAD addresses.

In 2023, the bank conducted a stakeholder consultation to update its materiality matrix and develop its CSR strategic plan for 2025-2029. This process offered an opportunity to review and refresh previously identified issues and to reassess their relevance from the stakeholders’ perspectives.

For the questionnaire on the bank’s economic performance, BOAD collaborated and consulted with the following stakeholders:

• BOAD management (President, Vice-presidents, President’s advisors, directors, deputy directors)
• Ministry members
• Other stakeholders (clients, ministry officials, companies, and business leaders)

For the stakeholder priorities questionnaire, the panel consisted of:

• Employees at headquarters and resident missions
• Internal consultants
• Public companies
• Financial institutions, private sector enterprises, local authorities, SMEs, VSEs, artisans, and others

Regarding suppliers and service providers, efforts are currently underway to develop a responsible purchasing policy that will set out the standards and expectations they must adhere to. In its dealings with suppliers, the bank commits to:

• tirelessly combating all forms of corruption and illicit commercial activities, such as plagiarism, counterfeiting, dumping, and others
• guaranteeing the fulfilment of all contractual obligations, ensuring they are fair and equitable
• considering the expectations of partners, beneficiaries, and suppliers, and prioritizing the swift resolution of complaints and disputes
• ensuring that it does not collaborate with partners whose practices lack responsibility
• actively promoting Corporate Social Responsibility within its areas of influence

Regarding media engagement, including podcasts, interviews, and contributions to articles;

In terms of partnerships, BOAD is actively involved in the Task Force on Nature-related Financial Disclosures (TNFD) and the Task Force on Climate-related Financial Disclosures (TCFD). The bank is also accredited to three financial mechanisms: the Green Climate Fund and the Adaptation Fund under the United Nations Framework Convention on Climate Change (UNFCCC), as well as the Global Environment Facility (GEF) under five conventions, including the Convention on Biological Diversity (CBD), the UNFCCC, the Stockholm Convention on Persistent Organic Pollutants, the United Nations Convention to Combat Desertification (UNCCD), the Minamata Convention on Mercury, and the Agreement on Biological Diversity Beyond the Limits of National Jurisdiction (BBNJ).

BOAD has become a member of the Finance In Common Coalition (FICS) on Gender, which is co-chaired by UN Women and the African Development Bank (AfDB). Through this partnership, BOAD is dedicated to collaborating with other member development banks and financial institutions to enhance coordination and mobilization efforts in support of combating gender inequality and promoting the empowerment of women and girls within the global financial system. This new commitment marks a significant advancement in the institution’s efforts to implement transformative gender policies at both the institutional and organizational levels.

BOAD and Africa50 have partnered to develop and co-finance green infrastructure across Africa. A formal agreement has been signed to attract capital from institutional investors for African infrastructure projects and to identify initiatives suitable for co-financing. As part of this collaboration, both organizations have reaffirmed their commitment to work together on financing and developing bankable projects, including climate-resilient infrastructure, to promote sustainable growth and support the energy transition in African nations.

In August 2024, BOAD successfully raised €100 million to support climate change mitigation initiatives in West Africa by subscribing to the first hybrid bond issued by a multilateral bank specifically dedicated to this purpose.

BOAD is also currently exploring the possibility of joining the Equator Principles, the Poseidon Principles, and the Global Compact.

How did BOAD identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Annual Report BOAD reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

In a context where social and environmental responsibility is increasingly vital for growth and differentiation, BOAD is proactively identifying and developing strategic business opportunities that aim to maximize positive impacts while minimizing negative externalities.

As part of this approach, the bank has received a €506 million guarantee from the Multilateral Investment Guarantee Agency (MIGA). With a maximum duration of fifteen years, this guarantee is a crucial tool for securing financing for projects with significant environmental and social impacts. It mitigates the risk of default by a regional development bank, thereby enhancing investor and financial partner confidence in BOAD’s commitment to sustainable development.

This initiative highlights the international recognition of BOAD’s strategic role as a key player in development financing within the WAEMU region. BOAD remains dedicated to implementing sustainable and innovative financial solutions that turn challenges into opportunities for shared growth.

 

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

• • • 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.

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 BOAD, 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://admin.boad.org/wp-content/uploads/2025/08/RAPPORT-BOAD-PRB-ANG.pdf

Note to BOAD: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.