As part of efforts to promote sustainable banking in the country, the
A statement explained that the forum would serve as a platform to share international and local experience and best practice on sustainable banking, and to build partnerships to support sustainable banking in emerging markets. It is expected to bring together policymakers from governments, multilateral development banks, financial institutions, civil society organisations, and technical institutions, to share insights and ideas on sustainable banking.
Commenting on the initiative, the Acting CBN Governor, Dr.
"We are partnering with IFC to create knowledge sharing through the forum and generate critical guidance on environmental and social risks management for banks and other financial institutions," she added.
Sustainable banking helps banks and financial institutions better understand the benefits and risks of environmental and social impacts of their investments and loans. It provides a framework for them to further integrate these considerations into their policies, operations and procedures. This creates environmental and social responsibility in the financial sector and adds long-term value for clients and other stakeholders.
On his part, the IFC Country Manager,
According to him, it would be a great opportunity to promote principles within the industry that advance sustainable business growth and economic development.
The international sustainable banking forum is a voluntary platform of bank regulators and banking associations established to facilitate knowledge sharing and development of standards, policies and guidelines on environmental and social risk management for regulators in emerging markets. The network members currently include
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