LBS, Stanbic IBTC Advocate Sustainable Practices in Corporate Organisations

The Lagos Business School and Stanbic IBTC Holdings have reiterated the need for businesses to embrace initiatives that promote environmental sustainability.
The charge was made during the presentation of a case study on the Holding Company’s Environmental, Social, & Governance initiatives at the LBS campus in Ajah, Lagos.
The case study, titled, “Beyond the Buzzwords: Concrete Sustainability Measures in Corporate Strategy,” was authored by Professor Chris Ogbechie, Dean of Lagos Business School, and Segun Jones, Hub Lead, LBS Management Hub, in collaboration with Dr Demola Sogunle, the protagonist in the case.

It was presented during a joint session to participants of the Owner-Manager Programme of the Lagos Business School and the Strathmore Business School in Nairobi, Kenya.

During his presentation, Ogbechie underscored the importance of sustainability for every corporate organisation.

According to him, the success of any business entity no longer consists of mere revenue targets but efforts to promote environmental sustainability.
He said, “Sustainability is a headache that is keeping many CEOs awake today. In Nigeria, climate change is a big risk, causing us headaches because we are facing what we call food crisis, driven by climate change.”
On his part, the Chief Executive of Stanbic IBTC Holdings, Demola Sogunle highlighted the company’s continued focus on adopting its ESG benchmark.
Sogunle emphasised that the company’s sustainability initiatives are designed to align with global best practices and recommendations.
He further stated that pursuant to its sustainability roadmap, the company had planted 43,928 trees in the last three years and plans to hit the 100,000 benchmark by 2025.

Commenting further on the case study, Sogunle said, “Our motivation stems from our top leadership’s recognition of the critical interdependence between Stanbic IBTC’s success and the welfare of the communities we serve. As market leaders in various sectors, and with the substantial trust placed in our Group, we have embraced sustainability in all its facets.”