First Bank emerges Nigeria’s Best Bank in ESG

First Bank has emerged as the winner of the prestigious Euromoney Award for Nigeria’s Best Bank in Environmental, Social and Governance (ESG) 2024, reinforcing its position as a leader in sustainable banking and finance practices in its 130 years of existence.

The award honours First Bank’s contributions and unwavering commitment to Environmental, Social, and Governance investments in Nigeria, facilitated through innovative financial solutions and initiatives.

Euromoney recognised First Bank’s significant progress amongst other areas in the implementation of an ESG management system, which facilitated the screening of N4.2 trillion new transactions for potential ESG risks in 2024.

In support of Nigeria’s green transition, First Bank 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; committing N16 billion to develop four modular independent power plants for a major manufacturer, enabling it to shift from diesel generators to more sustainable energy sources and significantly reducing production costs.

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Additionally, First Bank started a tree planting campaign in partnership with the Nigeria Conservation Foundation to plant over 50,000 trees in 2024 demonstrating the bank’s dedication to ESG as a business agenda.

The Group Head, Marketing & Corporate Communications, Mrs Folake Ani-Mumuney said, “At First Bank, 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.”