Sustainability
Transforming lives and enterprises responsibly
At the Bank of Industry, we view sustainability not just as a responsibility, but as a strategic imperative. As Nigeria’s foremost development finance institution, we are committed to advancing long-term economic growth that is inclusive, environmentally responsible, and anchored in sound governance. Sustainability is at the core of our corporate strategy, guiding how we finance businesses, structure partnerships, and deliver impact. Our mandate enables us to support Nigeria’s transition toward a greener, more equitable economy—one that alleviates poverty, reduces inequality, and protects the environment for future generations. Through strategic partnerships, we continue to embed sustainability into our financial activities, fostering industrialization within a stable environment to achieve economic prosperity We are committed to ensuring sustainability across our business operations to drive strategic, social, economic, and environmental impact in the communities we serve.
— DR. OLASUPO OLUSI
MANAGING DIRECTOR/CEO OF
BANK OF INDUSTRY
Sustainability Footprint in Time
Concluded AFD credit line for Green Projects
- Became signatory to Africa Business Leaders Coalition (ABLC) Climate Statement
Created six thematic areas of focus for the Bank’s lending activities including Climate & Sustainability
Created a dedicated Climate Finance to deepen the Bank’s climate lending activities.
- Adopted the use of electric staff buses to reduce the Bank’s GHG Emissions
- Tree Planting Initiative
 In furtherance of the Bank’s commitment to environmental sustainability, the Bank’s Climate and Sustainability Champions launched a tree planting initiative to commemorate the 2024 World Environment Day.Â
Guiding Principles on Sustainability
Utilize Appropriate Standards for ESG Performance
To guide the appraisal of ESG risks and define adequate mitigation for identified risks, the Bank’s credit appraisal activities are guided by its Environment & Social (E&S) policy as well as its Environment & Social Management System (ESMS) Framework. These guiding documents ensure the effective management of E&S risks in the Bank’s portfolio.
To ensure continuous high performance, our sustainability approach is align to leading frameworks including the Nigerian Sustainable Banking Principles (NSBPs), the Paris Climate Agreement, the UN Sustainable Development Goals (SDGs) and other relevant local and international principles.
Aligning Strategic Partnerships for Sustainable Growth
The Bank leverages on strategic collaboration with various local and international stakeholders to drive its sustainability agenda. These include:
United Nations Global Compact (UNGC):
The Bank of Industry has been an active member of the UN Global Compact since 2018. We participate in the activities of the local network in Nigeria, collaborating to address social, environmental and economic development issues locally.
United Nations Environment Programme Finance Initiative (UNEPFI):
In 2021, the Bank joined the initiative as part of our strategy to further align our business with global best practices for sustainable development whilst collaborating with the global Banking industry to drive sustainable finance for the socio-economic development of society. BOI is the First Nigerian DFI signatory to the UN Principles for Responsible Banking joining over 240 Banks globally aligned to achieve sustainable development. The Bank also joined the United Nations Environment Programme Finance Initiative (UNEP FI) to launch the Collective Commitment to Financial Health and Inclusion – a first-of-its-kind initiative of the banking sector to promote universal and financial inclusion.
The World Economic Forum (WEF):
In 2021, the Bank became a member of the World Economic Forum alongside over 750 global business leaders. This partnership is in line with the Bank’s vision to be Africa’s leading DFI operating under global best practices; and will strengthen our efforts to increase sustainability impact. Through this partnership, the Bank has made significant progress in joining the global community to collaborate for sustainable impact.
Driving Internal Net-Zero Objectives
The Bank remains committed towards achieving its net-zero objectives by implementing various initiatives to reduce Green House Gas Emissions generated by the Bank’s operations.
