Fidelity Bank Affirms Industry Leadership with Publication of Its ISSB-Compliant Sustainability Report

In demonstration of its leadership in the Sustainability space, leading financial institution – Fidelity Bank Plc – has emerged the first bank to publish its 2023 ISSB-Compliant Sustainability and Climate Report in the Nigerian banking industry.

Hosted on the bank’s website on 30 June 2024, the report provides insights into the Bank’s Governance, Strategy, Risk Management, Metrics and Targets around Sustainability and Climate-related risks and opportunities, Human Capital, Community Efforts, amongst others in the 2023 financial year.

“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 go beyond mere statements of membership – they 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”, remarked Mr. Mustapha Chike-Obi, Chairman, Board of Directors, Fidelity Bank Plc in the report.

The document, which was prepared in accordance with the requirements of IFRS S1 and S2, highlights the bank’s achievements and aspirations as pacesetters within the financial services sector.

Speaking on the bank’s strategy on Sustainability and Climate change, Mr. Kevin Ugwuoke, Executive Director/Chief Risk Officer, Fidelity Bank Plc, stated, “Our 2023 Sustainability and Climate Report details our commitment to continually situate ESG and Climate-related risks & opportunities considerations 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 was recently listed amongst the top Nigerian banks in ESG performance according to a survey commissioned by the Independent Project Monitoring Company (IPMC) Limited.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and 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.