Our approach to sustainability
At Stanbic IBTC, we understand that the success of our organisation is inextricably linked to the prosperity and wellbeing of the societies and environments in which we operate.
We view sustainability as a synergistic relationship with two facets: firstly, optimising our Positive impact, and concurrently, addressing and managing Environmental, Social, and Governance (ESG) risks inherent in our business activities. This balanced approach helps us ensure that we operate as a responsible and resilient corporate citizen.
Given our purpose of being committed to solutions that drive your progress, our sustainability strategy focuses on four core pillars, which incorporates sustainability as a commercial strategy and best practice of ESG risk management for delivering positive impacts.
Our strategic value drivers
At Stanbic IBTC, we rely on six critical measures of success to assess our performance against our strategic focus areas.
The six value drivers encourage not only financial performance but also: performance concerning our clients and our employees, how we conduct business, and ultimately, the Social, Environmental, and Economic (Positive Impact) outcomes for the communities and environments in which we operate. The Positive Impact framework serves as the core of sustainability in Stanbic IBTC.
Our sustainability pillars
Our sustainability ambition is to become the leading financial institution driving sustainable finance solutions in Nigeria. To achieve this, we have thus defined four sustainability pillars in line with our Positive Impact framework
This pillar serves as the anchor for Stanbic IBTC environment footprint management with focus on:
To build environmental resilience, promote a green culture and a sustainable workplace, Stanbic IBTC focuses on three priority areas, including:
- Reduction of carbon emission.
- Efficient waste management.
- Efficient management of water resources.
This pillar defines Stanbic IBTC’s continuous focus on driving sustainable socio-economic growth through innovative solutions and offerings including:
- Employees’ engagement and wellbeing.
- Sustainable partnerships and collaboration with relevant stakeholders to improve sustainable finance solutions and investment outcomes.
- Empowering communities through sustainable finance and investment solutions and community programs.
This pillar defines Stanbic IBTC’s continuous focus on:
- Financial inclusion solutions and offerings across Stanbic IBTC Group
- Social finance and investments in education, health, sustainable agriculture, etc.
- Finance and investment in clean energy technology like solar energy, green buildings etc. to enhance climate change mitigation and adaptation.
- Environmental and social risk management in lending.
- Sustainability driven supply chain – engagement with suppliers and vendors on sustainability solutions.
This pillar defines Stanbic IBTC’s continuous focus on:
- Development and implementation of appropriate sustainability or Environmental, Social and Governance (ESG) data management.
- Embedding sustainability considerations in applicable processes and policies.
- Proactive compliance approaches to applicable frameworks and regulations.
- Reporting of sustainability activities, adopting an international sustainability reporting framework.
Positive Impact Areas
We have identified four impact areas where we believe we can best achieve our purpose (to drive Nigeria’s growth), while positively impacting society, the economy, and the environment. The four Positive impact areas are consistent with the nature of our business and are aligned to the United Nations Sustainable Development Goals (UN SDGS) and the African Union Agenda 2063.
- Facilitate African trade and investment
- Strengthen the Agriculture Value Chain
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About ₦36.3bn in loans disbursed to 2,886 SME clients for the year ended 2023
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Facilitated trade solutions valued at over ₦1.4tn clients in 2023
- Enable Africa’s just energy transition and support improved access to affordable energy
- Provide finance for critical infrastructure in sectors such as transport, water and telecommunications
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Investment placements valued at ₦34bn made on infrastructure projects during the year 2023.
- Partner with our clients to support their transition journey and strengthen their resilience
- Provide sustainable finance solutions to incentivise sustainable business practices
- 35 active branches, 12 SIPML locations and 88 ATM locations running on solar hybrid powered energy solutions since inception.
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In 2023, 27.8 tons of waste papers were recycled in return for tissue papers
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30,000 trees have been planted in sponsorship of the Green Recovery Nigeria program making a total of 43,928 trees planted.
- Support SME owners with access to finance, capacity building, networking, and access to markets
- Provide solutions tailored for women and young people
- 551,347 @ease wallets were opened in 2023.
- ₦2.03bn disbursed in financing for female operated businesses for the year ended 2023
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Our sustainability reports
Stanbic IBTC is committed to transparency and effectiveness in our sustainability reporting
Stanbic IBTC 2023 Sustainability Report Stanbic IBTC 2022 Sustainability Report Stanbic IBTC 2021 Sustainability ReportCase Studies
In 2023, Stanbic IBTC planted 30,000 trees in sponsorship of the Green Recovery Nigeria Initiative of the Nigeria Conservation Foundation.
The Green Recovery Nigeria Initiative is a programme of action to increase Nigeria’s forest cover the current 5% to 25% of the national land cover by 2050.
Till date, the Group has planted a total of 43,928 trees.
Stanbic IBTC provided a term loan and working capital facility to Codix Pharma Limited to part-finance the construction of a WHO pre-qualified In Vitro Diagnostics
(IVD) factory for the manufacture of rapid diagnostic test kits. This factory once completed will produce the rapid test kits for Malaria clinical kits, Malaria self-test, HIV, HIV-Syphyllis Duo and Hepatitis. These products are currently being imported into Nigeria. The project will contribute positively to foreign exchange liquidity in Nigeria as local demand can be met with local production and excess exported to neighboring African countries.
Stanbic IBTC’s interventionist programme and flagship corporate social investment (CSI) project Together4ALimb, has continued to give hope and transform the loves of children living with limb loss from congenital issues or birth defects, accidents, or mismanaged injuries across the country.
In 2023, Stanbic IBTC provided prosthetic limbs for 45 children from different communities in Nigeria making it a total of 100 beneficiaries in nine years who have received the support. The beneficiaries were also awarded Educational Trust worth ₦1.5 million each to access quality education.
Stanbic IBTC, committed to fostering educational development across Nigeria, established the “Adopt a School Programme.” This initiative running in its second year, focuses on identifying, adopting, and renovating public schools, aiming to create model learning centres that enhance the educational experience for children. In 2023, Stanbic IBTC extended its support by adopting four schools located in Ekiti, Sokoto, Akwa Ibom, and Borno States. The renovation projects for these schools are currently underway and are scheduled for completion and handover in the first quarter of 2024.
Stanbic IBTC is proud to have actively participated in COP28, a global gathering of leaders focused on addressing climate change by negotiating and implementing policies and agreements to reduce greenhouse gas emissions, adapt to the impacts of climate change, and mobilise financial and technological support for climate action. Our representatives engaged in thought-provoking conversations alongside industry experts to contribute valuable insights and collaborate on solutions especially as it concerns Africa. To demonstrate our commitment to sustainable development, the Bank signed a ₦30bn Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) who is currently at the final stage of firming up a $750mn grant offered to the country by World Bank Group after successful utilization of the first tranche of c. $350mn..
Stanbic IBTC’s partnership with the Nigerian Montane Forest Project (NMFP), a dedicated NGO committed to conserving and sustainably managing montane forests through inclusive education and research, exemplifies our unwavering dedication to environmental preservation and education. Operating within the Gashaka Gumpti National Park (GGNP) located in the eastern provinces of Taraba and Adamawa states, Nigeria, this collaboration has achieved significant milestones in 2023.
The project has facilitated funding for several master’s and PhD students, fostering education and capacity building.
Former interns and graduated postgraduate students are now actively contributing to the global discourse on biodiversity loss and climate change. Local communities are actively engaged in conservation efforts, planting trees, and gaining insights into the value of the forest and its resources. Other major achievements include a solar upgrade, increased global recognition through social media and documentaries, and the development of a biodiversity database. At Stanbic IBTC we believe in the power of collaboration to scale sustainable initiatives and positive environmental impact.
Awards
OUTSTANDING AGRIC SUPPORTING BANK OF THE YEAR FROM THE MARKETING EDGE AWARDS
2023
COMPANY LEADERSHIP GENDER DIVERSITY FROM THE GENDER LEADER AWARDS
2023
GENDER EQUALITY CHAMPION FROM THE GENDER LEADER AWARDS
2023
WOMEN’S EMPOWERMENT AND LEADERSHIP FROM THE GENDER LEADER AWARDS
2023
Most Outstanding Bank Supporting Women Owned Businesses from the WIMCAR Awards
2023
Best Company in Gender Equality and Women Empowerment from the Africa Sustainability/CRS (SERAS) Awards
2023
MOST OUTSTANDING BANK IN GENDER INCLUSION FROM THE WIMCA AWARDS
2022
BEST IN CORPORATE SUSTAINABILITY FROM THE LAPRIGA AWARDS
2021
BANK OF THE YEAR SUSTAINABILITY FROM THE INDUSTRY AWARDS
2021
OUTSTANDING COMMUNITY SERVICE AWARD FROM ASCEND HOTELS LIMITED
2020
BEST HR TEAM AWARD FROM HR PEOPLE MAGAZINE AWARDS
2020
BEST TRAINING, LEARNING & DEVELOPMENT STRATEGY AWARD FROM HR PEOPLE MAGAZINE AWARDS
2020
BEST WORK LIFE HARMONY AWARD FROM HR PEOPLE MAGAZINE AWARDS
2020
BEST TRAINING, LEARNING & DEVELOPMENT STRATEGY FROM HR PEOPLE MAGAZINE AWARDS
2019
OUTSTANDING EMPLOYEE ENGAGEMENT STRATEGY FROM HR PEOPLE MAGAZINE AWARDS
2019
LEADERSHIP AWARD – DALE CARNEGIE
2019
BEST DIVERSITY AND INCLUSION INITIATIVE AWARD FROM CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT
2019
BEST STRATEGIC HR INITIATIVE AWARD FROM CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT
2019
Career progression for Women Award from the CFA Society Nigeria
2018
Work-Life balance Award from the CFA Society Nigeria
2018
Special Honours for Promoting Youth and Sport Development from National Sports Festival Inaugural Awards
2018
BEST HR OPTIMIZATION AWARD FOR EMPLOYEE ENGAGEMENT AND INTERNAL COMMUNICATION
2017
OUTSTANDING EMPLOYEE ENGAGEMENT STRATEGY FROM HR PEOPLE MAGAZINE AWARDS
2017
OUTSTANDING TALENT MANAGEMENT STRATEGY FROM HR PEOPLE MAGAZINE AWARDS
2017
HR BEST PRACTICE AWARD FROM THE FINANCIAL INDUSTRY IN NIGERIA
2017
EXCEPTIONAL INVESTMENT IN EMPLOYEE MEDICAL AND WELFARE FROM REDBRIDGE HEALTH CARE
2017
HR BEST PRACTICE FROM CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT AWARD
2017