Dr. Olasupo Olusi, the Managing Director/Chief Executive of the Bank of Industry (BoI), has proudly unveiled the bank’s Sustainable Finance Framework, hailing it as a pivotal moment and a true “Sustainability Seal” in BoI’s ambitious journey to become a fully sustainable development finance institution. This framework isn’t just another policy document; it represents a fundamental shift in BoI’s approach to lending and investment, embedding environmental, social, and governance (ESG) considerations at the very heart of its operations.
Dr. Olusi emphasized that the framework marks a significant step towards realizing BoI’s vision of a future where economic growth is intrinsically linked to environmental protection and social inclusion. He articulated that the “Sustainability Seal” signifies BoI’s unwavering commitment to financing projects that not only generate financial returns but also contribute to a more sustainable and equitable society. This includes prioritizing investments in renewable energy, energy efficiency, sustainable agriculture, and other sectors that promote environmental stewardship and social well-being.
The MD/CEO further highlighted that the framework provides a clear and transparent roadmap for how BoI will assess and manage the environmental and social risks associated with its lending activities. It also sets ambitious targets for increasing the proportion of BoI’s portfolio that is dedicated to sustainable projects. This commitment to transparency and accountability will ensure that BoI is held responsible for its performance and that stakeholders can track its progress towards achieving its sustainability goals.
Dr. Olusi’s strong endorsement of the Sustainable Finance Framework underscores BoI’s leadership role in promoting sustainable finance in Nigeria. By integrating ESG considerations into its core business operations, BoI is setting a positive example for other financial institutions and demonstrating that sustainable finance can be both financially sound and socially responsible. The “Sustainability Seal” represents a powerful commitment to building a more sustainable and prosperous future for Nigeria, one where economic growth benefits all segments of society and protects the environment for generations to come. This initiative has the potential to unlock significant investment opportunities in sustainable development projects across the country, creating jobs, improving livelihoods, and fostering a more resilient and inclusive economy.
