StanbicIBTC : Sustainability

About us
- - - Who we are
    - An African-focused, client-centric, digitally enabled, integrated financial solutions provider…
      
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    - Where we are
    - Operating in 20 sub-Saharan African countries with operations in key financial centres outside Africa…
      
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  - - Our performance
    - Our strategic journey towards becoming the leading end-to-end financial solutions provider continues …
      
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    - Sustainability
    - Stanbic IBTC’s sustainability and success are inextricably linked to the prosperity and wellbeing of the societies in which we operate….
      
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  - - OUR VISION
      
      To be the leading end-to-end financial solutions provider
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Our strategic value drivers

At Stanbic IBTC, we rely on six critical measures of success to assess our performance against our strategic focus areas.
The six value drivers encourage not only financial performance but also: performance concerning our clients and our employees, how we conduct business, and ultimately, the Social, Environmental, and Economic (Positive Impact) outcomes for the communities and environments in which we operate. The Positive Impact framework serves as the core of sustainability in Stanbic IBTC.

Our sustainability pillars

Our sustainability ambition is to become the leading financial institution driving sustainable finance solutions in Nigeria. To achieve this, we have thus defined four sustainability pillars in line with our Positive Impact framework

BUILDING ENVIRONMENTAL RESILIENCE

This pillar serves as the anchor for Stanbic IBTC environment footprint management with focus on:

To build environmental resilience, promote a green culture and a sustainable workplace, Stanbic IBTC focuses on three priority areas, including:

Reduction of carbon emission.

Efficient waste management.

Efficient management of water resources.

ENHANCING SOCIAL RELATIONSHIPS

This pillar defines Stanbic IBTC’s continuous focus on driving sustainable socio-economic growth through innovative solutions and offerings including:

Employees’ engagement and wellbeing.
Sustainable partnerships and collaboration with relevant stakeholders to improve sustainable finance solutions and investment outcomes.
Empowering communities through sustainable finance and investment solutions and community programs.

EXPANDING BUSINESS MODEL AND INNOVATION

This pillar defines Stanbic IBTC’s continuous focus on:

Financial inclusion solutions and offerings across Stanbic IBTC Group
Social finance and investments in education, health, sustainable agriculture, etc.
Finance and investment in clean energy technology like solar energy, green buildings etc. to enhance climate change mitigation and adaptation.
Environmental and social risk management in lending.
Sustainability driven supply chain – engagement with suppliers and vendors on sustainability solutions.

Strengthening Leadership for sustainability governance

This pillar defines Stanbic IBTC’s continuous focus on:

Development and implementation of appropriate sustainability or Environmental, Social and Governance (ESG) data management.
Embedding sustainability considerations in applicable processes and policies.
Proactive compliance approaches to applicable frameworks and regulations.
Reporting of sustainability activities, adopting an international sustainability reporting framework.

Positive Impact Areas

We have identified four impact areas where we believe we can best achieve our purpose (to drive Nigeria’s growth), while positively impacting society, the economy, and the environment. The four Positive impact areas are consistent with the nature of our business and are aligned to the United Nations Sustainable Development Goals (UN SDGS) and the African Union Agenda 2063.

Enterprise Growth and Job Creation

Facilitate African trade and investment
Strengthen the Agriculture Value Chain
About ₦36.3bn in loans disbursed to 2,886 SME clients for the year ended 2023
Facilitated trade solutions valued at over ₦1.4tn clients in 2023

Access to Energy and Infrastructure Development

Enable Africa’s just energy transition and support improved access to affordable energy
Provide finance for critical infrastructure in sectors such as transport, water and telecommunications
Investment placements valued at ₦34bn made on infrastructure projects during the year 2023.

Climate change mitigation and resilience

Partner with our clients to support their transition journey and strengthen their resilience
Provide sustainable finance solutions to incentivise sustainable business practices
35 active branches, 12 SIPML locations and 88 ATM locations running on solar hybrid powered energy solutions since inception.
In 2023, 27.8 tons of waste papers were recycled in return for tissue papers
30,000 trees have been planted in sponsorship of the Green Recovery Nigeria program making a total of 43,928 trees planted.

Financial Inclusion

Support SME owners with access to finance, capacity building, networking, and access to markets
Provide solutions tailored for women and young people
551,347 @ease wallets were opened in 2023.
₦2.03bn disbursed in financing for female operated businesses for the year ended 2023

Our sustainability reports

Stanbic IBTC is committed to transparency and effectiveness in our sustainability reporting

Case Studies

Stanbic IBTC Carbon Offsetting Initiatives

In 2023, Stanbic IBTC planted 30,000 trees in sponsorship of the Green Recovery Nigeria Initiative of the Nigeria Conservation Foundation.

The Green Recovery Nigeria Initiative is a programme of action to increase Nigeria’s forest cover the current 5% to 25% of the national land cover by 2050.

Till date, the Group has planted a total of 43,928 trees.

Codix Pharma Limited

Stanbic IBTC provided a term loan and working capital facility to Codix Pharma Limited to part-finance the construction of a WHO pre-qualified In Vitro Diagnostics

(IVD) factory for the manufacture of rapid diagnostic test kits. This factory once completed will produce the rapid test kits for Malaria clinical kits, Malaria self-test, HIV, HIV-Syphyllis Duo and Hepatitis. These products are currently being imported into Nigeria. The project will contribute positively to foreign exchange liquidity in Nigeria as local demand can be met with local production and excess exported to neighboring African countries.

Together4ALimb

Stanbic IBTC’s interventionist programme and flagship corporate social investment (CSI) project Together4ALimb, has continued to give hope and transform the loves of children living with limb loss from congenital issues or birth defects, accidents, or mismanaged injuries across the country.

In 2023, Stanbic IBTC provided prosthetic limbs for 45 children from different communities in Nigeria making it a total of 100 beneficiaries in nine years who have received the support. The beneficiaries were also awarded Educational Trust worth ₦1.5 million each to access quality education.

Adopt-A-School Programme

Stanbic IBTC, committed to fostering educational development across Nigeria, established the “Adopt a School Programme.” This initiative running in its second year, focuses on identifying, adopting, and renovating public schools, aiming to create model learning centres that enhance the educational experience for children. In 2023, Stanbic IBTC extended its support by adopting four schools located in Ekiti, Sokoto, Akwa Ibom, and Borno States. The renovation projects for these schools are currently underway and are scheduled for completion and handover in the first quarter of 2024.

Stanbic IBTC at COP28: Driving Sustainable Change in Africa

Stanbic IBTC is proud to have actively participated in COP28, a global gathering of leaders focused on addressing climate change by negotiating and implementing policies and agreements to reduce greenhouse gas emissions, adapt to the impacts of climate change, and mobilise financial and technological support for climate action. Our representatives engaged in thought-provoking conversations alongside industry experts to contribute valuable insights and collaborate on solutions especially as it concerns Africa. To demonstrate our commitment to sustainable development, the Bank signed a ₦30bn Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) who is currently at the final stage of firming up a $750mn grant offered to the country by World Bank Group after successful utilization of the first tranche of c. $350mn..

Nigerian Montane Forest Project

Stanbic IBTC’s partnership with the Nigerian Montane Forest Project (NMFP), a dedicated NGO committed to conserving and sustainably managing montane forests through inclusive education and research, exemplifies our unwavering dedication to environmental preservation and education. Operating within the Gashaka Gumpti National Park (GGNP) located in the eastern provinces of Taraba and Adamawa states, Nigeria, this collaboration has achieved significant milestones in 2023.

The project has facilitated funding for several master’s and PhD students, fostering education and capacity building.

Former interns and graduated postgraduate students are now actively contributing to the global discourse on biodiversity loss and climate change. Local communities are actively engaged in conservation efforts, planting trees, and gaining insights into the value of the forest and its resources. Other major achievements include a solar upgrade, increased global recognition through social media and documentaries, and the development of a biodiversity database. At Stanbic IBTC we believe in the power of collaboration to scale sustainable initiatives and positive environmental impact.

Our approach to sustainability