The renowned Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance (ESG) has been won by FirstBank, the leading financial institution in West Africa and a provider of financial inclusion services. This achievement solidifies FirstBank’s standing as a pioneer in sustainable banking and finance practices over its 130-year history.
The esteemed and prestigious Euromoney Awards for Excellence named FirstBank Nigeria’s Best Bank for ESG in 2024 after a demanding and fiercely competitive selection process.
This award recognises FirstBank’s efforts and steadfast dedication to investments in environmental, social, and governance in Nigeria, made possible by creative financial solutions and programs.
FirstBank was acknowledged by Euromoney for its noteworthy advancements in the creation of an ESG management system, BrandSpur banking and finance news reports, which allowed for the screening of N4.2 trillion worth of new transactions for possible ESG risks in 2024, among other areas. Supporting Nigeria’s green transition, FirstBank committed N16 billion to the development of four modular independent power plants for a major beer manufacturer, allowing it to transition from diesel generators to more sustainable energy sources and significantly reduce production costs.
FirstBank also funded a $10 million solar energy project, expanding access to off-grid solar solutions in Africa and Asia through a pay-as-you-go model.
To further highlight the bank’s commitment to ESG as a business priority, FirstBank launched a tree-planting initiative in collaboration with the Nigeria Conservation Foundation to plant over 50,000 trees by 2024.
Mrs. Folake Ani-Mumuney, the Group Head of Marketing & Corporate Communications, expressed her happiness at the award by saying: “We are thrilled to receive the Euromoney Award for Nigeria’s Best Bank in ESG. This recognition is a testament to the power of enabling Giants in our employees, businesses, and communities to achieve success. At FirstBank, we believe that sustainability is a driver for growth and innovation. Our approach to sustainability is built on three pillars: Citizenship, Stakeholder Management, and Impact Management. This award validates our efforts to create a sustainable and inclusive future for all our stakeholders, and we are committed to advancing continuous positive impact in the marketplace, workplace, environment, and communities we serve.”
Euromoney disclosed that the “Awards for Excellence” – is the definitive annual awards programme of the global banking industry. The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.”
However, FirstBank was recognised for its outstanding leadership in incorporating sustainable practices into its banking operations and was recently awarded Best SME Bank in Nigeria, Best Bank in Africa, Best Private Bank in Nigeria, and Best Private Bank for Sustainable Investment in Africa by Global Finance, among other accolades.
