ECOBANK Ghana holds ESG workshop for manufacturing sector clients

Ecobank Ghana has held an Environmental, Social, and Governance (ESG) workshop for its clients in the manufacturing sector, collaboration with the Association of Ghana Industries (AGI).

The workshop, under the theme “Unlocking Sustainable Manufacturing: A Roadmap to Effective ESG Implementation”,
was aimed at empowering participants with a comprehensive understanding and the applicability of ESG principles in their business operations.

It brought together industry stakeholders to discuss the growing importance of incorporating ESG practices within the manufacturing industry. The event attracted over 200 participants from various sub-sectors within the manufacturing industry comprising pharmaceutical, food, beverage, wood, water, textiles, clothing, machinery, among others.

The workshop provided a platform for industry experts to share insights and best practices on ESG implementation, highlighting its benefits for businesses, the environment, and society at large.

In her welcome remarks, the Country Risk Officer of Ecobank, Ms Joana Mensah said; “Ecobank is committed to being a leader in sustainability across our entire business. We recognize the critical role that financial institutions play in driving positive environmental and social change. This commitment is reflected in our numerous sustainability initiatives, including supporting renewable energy projects and energy-efficient manufacturing technologies, partnering selected NGOs to promote sustainable agricultural practices, investing in social impact projects that empower communities and promote financial inclusion, and implementing robust environmental and social risk management frameworks throughout our lending processes.”

She concluded that Ecobank recognises the challenges faced by manufacturing companies in their sustainability journeys. That is why the bank chose to dedicate the first workshop specifically to its manufacturing sector clients, aimed at working with them to find ways to overcome their challenges and to explore further opportunities.

The Group Head of Sustainability at Ecobank, Rachael Antwi, highlighted the Ecobank group’s commitment to reinforcing its position as the pacesetter in ESG and sustainability through promoting sustainable financing solutions and strategic partnerships across various sectors. She also expressed the bank’s commitment to supporting the manufacturing sector to operate sustainably to ensure business continuity and to contribute to overall national sustainability agenda across the continent.

On his part, Mr. Seth Twum-Akwaboah, CEO of AGI, applauded Ecobank for its long-standing support to the association and expressed his delight in learning about the Bank of Ghana’s requirement for commercial banks to evaluate ESG standards of companies as an additional parameter in business support decisions. He acknowledged the critical role of ESG standards in shaping business practices.

He then highlighted AGI’s efforts to promote sustainable practices among its members, such as establishing the AGI Energy Service Centre to assist companies in adopting energy efficiency and renewable energy through their high-quality training and consultancy services.

Contributors included the Head of the Sustainability Office at the Banking Supervision Department of the Bank of Ghana, Mr. Stephen Armah, who enlightened participants on the impact of the Central Bank’s principles on sustainable business practices.

Mr. Osei Kwaku Adjaye-Gyamfi, Director of Technical and Research Department of the Institute of Chartered Accountants, Ghana then prepared the minds of participants for upcoming regulatory frameworks, including the IFRS Sustainability Disclosure Standards (IFRS S1 and S2).

The PR and Projects Manager for AGI, Isaac Kofi Batini took his turn with a discussion on “Leveraging Energy Efficiency and Renewable Energy Technologies for Business Sustainability and Competitiveness” which basically introduced participants to the importance of adopting renewable energy alternatives in their operations. Finally, the Acting Director and Head of the Environmental Assessment and Audit Unit of the Environmental Protection Agency, Ms. Andriana Naa Kwakor Nelson, presented on “Beyond Compliance: Using Environmental Regulations as a Springboard for Sustainable Innovation.” This was aimed at creating awareness on the regulatory environmental requirements and initiatives.

Participants expressed high levels of satisfaction with the programme, especially the breakout session, which afforded them the opportunity to discuss among themselves and also seek further insights from the presenters. They applauded Ecobank for such a laudable initiative.