Fidelity Bank wins Best ESG Bank of the Year 2024 award
Fidelity Bank Ghana has been named "Best ESG Bank of the Year 2024 in Ghana" by the Global Business and Finance Magazine Awards.
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This award recognises the bank’s commitment to Environmental, Social and Governance (ESG) principles and its efforts to drive sustainable growth in Ghana’s financial sector.
Additionally, Fidelity Bank was also named "Best CSR Bank Ghana" by Global Business and Finance Magazine, and Best CSR Bank Ghana by the Global Banking and Finance Awards.
The bank’s Orange Impact initiative, launched in 2022, supports 15 schools over five years with classroom construction, refurbishments and learning materials. To date, seven schools have benefited, with Accra Royal JHS being the most recent addition.
Awards
The Global Business and Finance Magazine Awards honour organisations that have made significant contributions to the fields of business and finance.
Fidelity Bank’s recognition underscores its comprehensive approach to sustainability, including an innovative Environmental and Social Risk Assessment (ESRA) process for all loans.
A release issued by the bank said: “This ensures that climate risks are considered in lending decisions, with 100 per cent of businesses receiving loans required to have fire extinguishers at their operations.
"We are honoured to receive the Best ESG Bank of the Year 2024 in Ghana award, which reaffirms our commitment to integrating sustainability into our business model,"
Managing Director of Fidelity Bank Ghana, Julian Opuni, said. He added: "At Fidelity Bank, we believe in creating value not just for our shareholders but for society at large.
This award reflects our continuous efforts to embed sustainable practices in everything we do, from responsible lending to waste management and climate action."
Innovative environmental initiatives
The release said a standout initiative was the bank’s ‘Waste to Cash’ programme, which focuses on recycling paper and plastic waste, significantly reducing waste output while exploring new revenue streams.
In the first half of 2024 alone, the bank recycled an estimated 2.8 tonnes of paper generated from its daily operations.
This initiative, the release added, is part of Fidelity Bank’s larger sustainability strategy, which includes developing a stand-alone climate strategy aligned with Ghana’s National Determined Contributions (NDCs) policy targets to reduce greenhouse gas emissions by 45 per cent below business-as-usual levels by 2030.
GreenTech innovation challenge
The release said in August 2024, during its annual Sustainability Conference, Fidelity Bank concluded its inaugural GreenTech Innovation Challenge (GTIC) with outstanding impact, awarding over GH¢1.4 million in grants to 17 groundbreaking businesses that address key challenges in the agriculture sector using technology.
Launched earlier this year in partnership with Innohub, the GTIC aimed to empower young entrepreneurs across various business cycles, including ideation, scale-up, and commercialisation stages.