Absa Bank Ghana Ltd has affirmed its commitment to sustainability and ethical business practices by officially joining the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative.
Speaking during a short signing ceremony held in Accra yesterday, Mr Tolu Lacroix, Executive Director of the UNGC Ghana, said, “We believe that sustainable business will be the business of the future. Our ultimate goal, as was the goal of Kofi Annan, is to see a far more sustainable world that we can do business in that we can raise our children, the next generation in. And the private sector is a very key component of that future world.”
Absa Bank’s Managing Director, Edward Nartey Botchway, highlighted the bank’s dedication to integrate the UNGC principles into its core operations and align its strategies with universal principles on human rights, labour, environment, and anti-corruption.
“Our participation in the United Nations Global Compact illustrates Absa Bank’s commitment to sustainability and to being a Force for Good in the communities we serve,” he said.
He said Absa’s involvement in the UNGC would enrich the bank’s strategies and amplify its efforts in promoting sustainable development.
Highlighting Absa Bank’s proactive sustainability initiatives,Botchway noted significant achievements under the bank’s Force for Good strategy.
“These include a 30 per cent reduction in electricity consumption and a 20 per cent decrease in water usage across its operations. Additionally, in partnership with the Mastercard Foundation, Absa has invested GH¢1.1 billion into over 5,900 Micro, Small and Medium-sized Enterprises (SMEs), including smallholder farmers,” he said.
Mr Botchway said, “Today is not just a significant milestone for Absa Bank, but also for the communities we are part of. We look forward to a fruitful collaboration, continual learning, and shared growth within this esteemed network.”
BY BENJAMIN ARCTON-TETTEY