Our approach to sustainability
At Stanbic IBTC, we understand that the success of our organisation is inextricably linked to the prosperity and wellbeing of the societies and environments in which we operate. We are thus deliberate in ensuring that our core business activities and operations support the creation of shared values for our society and the environment.
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 (SEE) outcomes for the communities and environments in which we operate. The SEE framework serves as the core of sustainability in Stanbic IBTC.
Our approach to sustainability At Stanbic IBTC, we understand that the success of our organisation is inextricably linked to the prosperity and wellbeing of the societies and environments in which we operate. We are thus deliberate in ensuring that our core business activities and operations support the creation of shared values for our society and the environment.
This approach to sustainability has been articulated into one of our six strategic value drivers – Social, Environmental and Economic (SEE) Impact. The value drivers are our critical measures of success and they encourage not only financial outcomes, but also positive SEE outcomes.
Our SEE framework serves as the core of sustainability in Stanbic IBTC.
For us, SEE is about identifying and exploiting opportunities to grow our business by providing financial products and services that help our customers and clients address social, economic, and environmental challenges. SEE also allows us to think differently about the broad impacts of our business decisions, including our indirect impacts (our most significant impacts arising from clients we finance and invest in).
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 SEE framework:
This pillar defines Stanbic IBTC’s continuous focus on:
- 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.
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.
This pillar defines Stanbic IBTC’s continuous focus on driving sustainable socio-economic growth through innovative solutions and offerings including:
- 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.
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.
SEE Impact areas
We have identified seven 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 seven SEE 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.
Accessible and affordable digital financial solutions for underbanked and unbanked individuals, entrepreneurs and small businesses.
Improving access to a wide range of financial services for small enterprises and supporting small enterprises to access value chains and markets.
Invest in our employee’s health, safety and wellbeing, finance healthcare providers and develop health-related infrastructure in Africa.
Support access to quality education and training to enable Nigeria’s people to thrive in a digitised world through innovative financial solutions.
Support Nigeria’s transition to a lower carbon economy, partner with clients to enable mitigation of climate change impacts and improve access to reliable and sustainable energy sources.
Invest in energy, water, transport and telecommunications infrastructure to facilitate economic growth and create opportunities for job creation and human development.
Provide clients with trade solutions to enable optimal international trade and minimise logistical challenges, and facilitate relationships importers and exporters.
Stanbic IBTC is committed to transparency and effectiveness in our sustainability reportingStanbic IBTC 2021 Sustainability Report Stanbic IBTC 2020 Sustainability Report Stanbic IBTC 2019 Sustainability Report
At Stanbic IBTC, we seek to drive positive social, environmental, and economic impacts in the communities where we operate, while minimising our negative impacts on the society and the environment. As a financial institution, we believe we can drive significant positive impacts though our business activities.
Some of our sustainable business case studies include;
- Empowering students from the TechCreek Institute, Port Harcourt:
- Provision of Solar Powered Borehole to L.E.A Primary School:
- Stanbic IBTC financial planning sessions with the Lagos State Employment Trust Fund (LSETF):
- Stanbic IBTC provides ₦6.70 billion lending facility for BAZE University Teaching Hospital:
- Stanbic IBTC SME Loans:
- KPMG survey: Stanbic IBTC leads in Retail and SME Banking:
- Tree Planting at Federal Government Girls College (FGGC), Calabar:
At Stanbic IBTC, we seek to facilitate quality education and youth development. In 2021, the Operations Shared Services team embarked on a CSI project aimed at empowering students at Tech Creek Digital Institute, a skill acquisition centre in Rivers State. The students (inclusive of seven physically challenged students) were trained on digital courses ranging from cybersecurity, web development, graphics design, photography, animation, among others.
Water is one of the most important resources humans need to survive. To remain healthy and in good condition, access to a reliable supply of clean water is imperative.
The staff of Stanbic IBTC Asset Management Limited donated a solar-powered borehole for the L.E.A Primary school in the Katampe, Mpape district of Abuja.
The financial planning session is an initiative of Stanbic IBTC, designed to train individuals, entrepreneurs, and business managers in personal and corporate finance with a view to enhancing their knowledge in the areas of wealth creation, improved business management and financial management.
In 2021, we partnered with the Lagos State Employment Trust Fund (LSETF) to train Small and Medium-sized Enterprises in entrepreneurship, through our financial education platform – The Stanbic IBTC Financial Planning Session, tagged “Managing Your Finances”
At Stanbic IBTC, we seek to drive positive impacts in the society, particularly across the health and education sectors. We are thus committed to providing financing solutions for educational and healthcare infrastructure, and services providers.
In light of this, Stanbic IBTC provided N6.70 billion funding for the BAZE University Private Teaching Hospital which was commissioned in October 2021.
In 2021, several small business owners across the nation benefitted from the Stanbic IBTC SME Loans. These customers attest to the accessibility and accelerated disbursement timeline for the SME Loans, which enabled them meet urgent financial needs.
Meet Mr Felix Okechukwu Okoh who runs an electronics business. The client required working capital to support his business, and came upon the Stanbic IBTC SME Loan, the perfect solution for him.
In 2021, KPMG has adjudged Stanbic IBTC Bank as the top-rated bank in the retail and SME segments in its Nigeria Banking Industry Customer Experience Survey
From the KPMG report, Stanbic IBTC’s overall customer experience performance improved significantly as the Bank moved from nineth in the last survey to the top position in 2021, scoring 74.5 percent and 74.7 percent in the retail and SME segments respectively.
Security of transactions, reliability of payments and, ATM experience were some key criteria highlighted in the report.