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Fidelity Bank Plc Pioneers ISSB-Compliant Sustainability and Climate Report in Nigerian Banking Industry

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Fidelity Bank Plc Pioneers ISSB-Compliant Sustainability and Climate Report in Nigerian Banking Industry
Fidelity Bank Plc Pioneers ISSB-Compliant Sustainability and Climate Report in Nigerian Banking Industry

Fidelity Bank Plc has set a new benchmark in the Nigerian banking sector by becoming the first financial institution to publish its 2023 ISSB-Compliant Sustainability and Climate Report. Released on June 30, 2024, the report is available on the bank’s website and offers comprehensive insights into its governance, strategy, risk management, and metrics related to sustainability and climate risks and opportunities, human capital, and community efforts for the 2023 financial year.

Highlighting the bank’s commitment to sustainable practices, Mr. Mustapha Chike-Obi, Chairman of the Board of Directors, noted, “2023 marked a pivotal point in our sustainability journey. We became a signatory of the UN Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking (PRB) and the UN Women’s Empowerment Principles (WEP). These associations actively integrate sustainability and climate-related goals into our core business strategy and daily operations. We believe innovation and transparency are essential for building trust in our strategies and achievements. As we progress towards sustainability, we remain committed to our diverse stakeholders including our dedicated workforce, esteemed shareholders, and valued customers.”

The report, prepared in accordance with IFRS S1 and S2 requirements, underscores Fidelity Bank's leadership in the financial services sector. It showcases the bank’s accomplishments and goals as a pioneer in sustainability.

Mr. Kevin Ugwuoke, Executive Director and Chief Risk Officer, emphasized the bank’s dedication to ESG and climate considerations, stating, “Our 2023 Sustainability and Climate Report details our commitment to continually situate ESG and Climate-related risks & opportunities at the core of our business operations and activities as we constantly explore means of meeting our corporate objectives in a manner that significantly reduces the negative environmental and social effects. We are glad to be the first bank to publish its report as this emphasizes our market leadership in the Sustainability space and we commit to do more to increase our positive impacts in all aspects of sustainability.”

Fidelity Bank’s recent recognition as one of the top Nigerian banks in ESG performance by the Independent Project Monitoring Company (IPMC) Limited further cements its status as a leader in sustainable banking.

To access the Fidelity Bank 2023 Sustainability and Climate Report, please visit [here].

Fidelity Bank, ranked among Nigeria's top banks, serves over 8.3 million customers across 251 business offices in Nigeria and the UK, as well as through digital banking channels. The bank has received numerous local and international accolades, including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, Best Payment Solution Provider Nigeria 2023, Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards, Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023, and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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