Standard Chartered wants stronger collaboration in clean, renewable energy initiatives

Standard Chartered Bank (Nigeria) Limited has called for stronger collaboration in clean and renewable energy initiatives.

The bank made this call recently while hosting its esteemed clients, during the maiden, Sustainability Forum in Lagos.

The programme was well attended by over 100 of the Bank’s Corporate clients within the manufacturing, production, and services industry.

Speaking on the theme tagged “Clean and Renewable Energy Initiatives – Driving Development through Sustainable  Financing,  the Dean , Lagos Business School and the founding Director of the School’s Sustainability Centre, Professor Chris Ogbechie said “the   role   of   collaboration   between   organisations   to   drive   a   common Sustainability agenda cannot be over emphasized.

He noted that their contributions are integral towards fostering economic development and achieving some of the social development goals in Nigeria.

Making his presentation, Professor Ogbechie said, “Financing clean energy initiatives in Nigeria requires collaboration   between   various   players.   International   collaboration   is   also   important.”

Citing an example, he said “multilateral development banks and developed countries can provide loans, grants, and technical expertise.

“Domestic financial institutions like banks, pension funds, and insurance companies can play a role too.  Banks can offer green bonds and climate focused loans, while pension funds and insurance companies can invest in clean energy projects for their long-term benefits. Together a lot can be achieved to do business the ethical and sustainable way.”

Also speaking, Chief Executive Officer of the Bank, Dalu Ajene said, “At Standard Chartered, we believe that sustainability is not only important for our business but for our community, our nation, our continent, and the survival of our planet.

“As responsible corporate citizens, we commit ourselves to driving change at a local and global level and in all aspects of our operations. We are aware of the pressing need to reduce carbon emissions and transition towards cleaner energy sources, which is why we are committed to the growth of clean and renewable energy in Nigeria.