The pandemic brought to light the fragmented nature of our business dealings and the significance of adopting ESG; It as an all-encompassing strategy for business operations where risks are identified and new opportunities are unlocked; to create competitive advantages and long-term growth that unlocks real value for banks and their clients.
The Sustainable Banking Principles, which establish a set of seven principles to help them on how to best integrate sustainable banking into their operations, were signed by all 24 of Ghana’s banks in 2019.
A set of 17 Sustainable Development Goals (SDGs) provide a shared universal blueprint for peace and prosperity for people and the planet, now and into the future.
For Ghanaian banks, the availability of ESG-linked funds that are intended to lower greenhouse gas (GHG) emissions; through Ghana NDCs and help Ghana achieve the SDGs through responsible investments opens doors; for access to international funding and alignment with opportunities from impact-oriented projects.
ESG-aligned banks will have the chance to access ESG-aligned funding, increasing their competitiveness; through exposure to new opportunities that help Ghana meet its international obligations; thereby closing the funding gap for addressing climate change and achieving SDGs, particularly from the private sector.