UBA Commits To Global Reporting Standards, Releases 2022 Annual Sustainability Report
…Supports 22,000 SMEs Female Directors on Board, Highest in Africa.
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its 2022 Annual Sustainability Report. The comprehensive report provides an overview of the bank’s commitment to Environmental, Social and Governance (ESG) performance and practices.
The report showcases UBA’s commitment to inclusivity, social responsibility, decarbonisation, responsible business practices and strong governance.
Furthermore, it highlights the Bank’s commitment to NetZero and assessment of the likely impacts of physical and transition risks on the bank’s business strategy.
In addition, it covers metrics and targeted in all relevant areas including corporate governance, strategy, risk management, corporate social responsibility (CSR), while also demonstrating its commitment to increasing the quality of non-financial performance and disclosures.
Commenting on the report, the Bank’s Executive Director, Finance and Risk Management, Ugo Nwaghodoh, said that the bank is excited to announce the release of the 2022 UBA Annual Sustainability Report which provides an overview of the bank’s commitment to environmental, social and governance (ESG) performance and practices, noting that the initiative was critical to the Bank’s business operations and will help to ensure that opportunities and resources for future generations are not jeopardized.
“We remain a purpose driven organisation, committed to Africa’s long-term wellbeing and to generating social economic and environmental value, which is an outcome we regard just as important as our financial results.
Sustainability goes beyond ticking boxes and meeting regulatory requirements. It involves strategic planning and decision-making in creating a culture of economic, social and environmental responsibility across the Bank, its people and the entire value chain”.
Also commenting on the report, the Bank’s Head of Sustainability Desk, Chidozie Ezike, expressed delight at the achievements UBA attained in 2022, as he reeled out robust financial inclusion drive which has seen the bank bring on board over 200,000 agents across Nigeria, up from 100,000 in the previous year.
In the area of small businesses, Chidozie pointed out that the bank has trained over 8,533 people, while it has also supported over 22,000 medium small and medium enterprises (MSMEs) customers with access to MSMEs financing in 2022, an increase from 5,000 SME customers supported in 2021.
Chidozie said, “Also worthy of mention is the braille account opening form, designed to on-board the visually impaired, an initiative which is the first of its kind in Africa and in the area of supporting SDGs, 21,500 people were impacted through the UBA community feeding Program in 2022 up from 1,300 people in 2021.”
“I must also emphasise that the bank is ahead of other financial institutions when it comes to gender balance as the number of females on the UBA board increased to 47% in 2022 from 31% in 2021. Females on board level are currently 53% above the bank set target and is incidentally the highest in Africa, Chidozie said.
He further said that as part of the Bank’s environmental mandate, UBA Foundation, the corporate social responsibility arm of the banking group launched its 2023 Tree Planting Campaign in partnership with the Lagos State Parks and Garden Agency (LASPARK).
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally. Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology