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FirstBank, West Africa’s premier financial institution and leading provider of financial inclusion services, has been honored with the Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance (ESG). This recognition solidifies FirstBank’s position as a leader in sustainable banking practices throughout its 130-year history.
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After a rigorous and highly competitive selection process, FirstBank emerged as the winner of the 2024 award, presented by the prestigious Euromoney Awards for Excellence. This accolade highlights FirstBank’s significant contributions and unwavering commitment to ESG investments in Nigeria through innovative financial solutions and initiatives.
ESG management system screened N4.2t new transactions for potential ESG risks in 2024
Euromoney recognized FirstBank for its substantial progress, including the implementation of an ESG management system that screened N4.2 trillion in new transactions for potential ESG risks in 2024. In support of Nigeria’s green transition, FirstBank 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.
The bank also committed N16 billion to develop four modular independent power plants for a major beer manufacturer, enabling a shift from diesel generators to more sustainable energy sources, thus significantly reducing production costs.
Additionally, FirstBank partnered with the Nigeria Conservation Foundation to plant over 50,000 trees in 2024, showcasing its dedication to ESG as a core business agenda.
FirstBank: Sustainability as driver for growth and innovation
Mrs. Folake Ani-Mumuney, Group Head of Marketing & Corporate Communications, expressed her delight, stating, “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’s “Awards for Excellence” are regarded as the highest distinction in the global banking industry, representing the pinnacle of achievement for banks and bankers who demonstrate exceptional differentiation in a highly competitive field.
In addition to this accolade, FirstBank has recently garnered other prestigious awards, including 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, recognizing its exceptional leadership in integrating sustainable practices into its banking operations.
