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Stanbic IBTC promotes sustainable banking

As part of the Stanbic IBTC 2021 Sustainability Week, Stanbic IBTC Holdings Plc organised a sustainability webinar tagged “Working towards net zero emissions”.

The objective of the virtual event, which held via the group’s #Bluetalks platform, was to promote awareness on the impact of climate change and provide methods towards reducing carbon footprints and achieving net zero emissions.

Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, said: “We all cannot continue to ignore our responsibility in the changes to the climate. Through small adjustments leading to a more conscientious and sustainable lifestyle, each one of us can take part in the global climate protection project. As reflected in one of our strategic value drivers SEE (Social, Environmental and Economic) Impact, Stanbic IBTC is focused on ensuring it does business responsibly whilst positively impacting the society and environment where we operate. As such, the Stanbic IBTC Sustainability Week is an opportunity to advance awareness around practical steps we are taking, and more which we can take, to make our world a better place.”

The event featured seasoned experts, who included Temesoye Jack, the Group Head, Sales, Banks, Gas Stations and SMEs, Starsight Energy; Prof. Kenneth Amaeshi, the Chair in Sustainable Finance and Governance at the European University Institute (EUI) and Oluwasegun Olajuwan, the Group Chief Executive Officer, THLD Group.

Jack stated that renewable energy sources like solar energy could help countries attain net zero emissions. She said: “Solar energy can help us move towards reducing greenhouse emissions. We need to have more energy efficient offices nationwide. However, this shift will not happen overnight as it is a gradual process.”

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She explained that Nigeria has barely scratched the surface when it comes to renewable energy and emphasised that sustainable practices do not have to end in the office but must be observed in all areas of the country

Amaeshi highlighted the importance of harmonising technology upgrades and sustainable growth to reduce carbon emissions. He explained that sustainability at the global level is targeted at mitigating the adverse effects of climate change.

According to him, “From recent surveys, it is clear individuals are ready to go green. The affordability of clean energy will determine if we will be able to reduce carbon emissions.”

On autogas, Olajuwan added: “Autogas has been around for 40 years, and Nigeria is not fully embracing it. It is safer, cleaner and more cost effective than fossil fuel and diesel. Vehicle conversion from fuel to autogas is affordable. CNG (Compressed Natural Gas) is more efficient than fuel. The use of CNG in vehicles mitigates the emission of nitrous oxide and hydrocarbons by 40% and 90% respectively, compared to petrol.”

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