FirstBank Wins Euromoney Award for Best Bank in Environmental, Social, Governance Investments

*Facilitated screening of N4.2 trillion new transactions for potential ESG risks in 2024

*Funded $10 million solar energy project to boost green transition, others 

James Emejo in Abuja

West African premier financial institution, FirstBank, has emerged winner of the prestigious Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance (ESG).
The feat reinforced the bank’s position as leader in sustainable banking and finance practices in its 130 years of existence.

The award followed a rigorous and highly competitive selection process conducted by respected and renowned Euromoney Awards for Excellence.
Essentially, the award recognised the bank’s contributions and unwavering commitment to Environmental, Social, and Governance investments in Nigeria, facilitated through innovative financial solutions and initiatives.

Euromoney recognised the bank’s significant progress among 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, FirstBank 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 beer manufacturer, enabling it to shift from diesel generators to more sustainable energy sources and significantly reducing production costs.

Additionally, the 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.
Expressing her delight on the recognition, Group Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney said, “We are thrilled to receive the Euromoney Award for Nigeria’s Best Bank in ESG. This recognition is a testament to the power of enabling Giants in our employees, businesses, and communities to achieve success.

“At FirstBank, 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.”

According to Euromoney, the “Awards for Excellence – is the definitive annual awards programme of the global banking industry.
“The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.”

Amongst other awards, FirstBank recently added to its awards kitty, Best SME Bank in Nigeria and Best Bank in Africa, Best Private Bank in Nigeria, and Best Private Bank for Sustainable Investment in Africa by Global Finance, for its exceptional leadership in integrating sustainable practices into its banking operations.