FirstBank, a Tier 1 lender, has been named the winner of the prestigious Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance (ESG). According to a press release issued by the bank, this recognition was achieved after a rigorous and highly competitive selection process during which FirstBank emerged as the top choice for ESG in Nigeria in 2024. The Euromoney Awards for Excellence, a respected and renowned institution, bestowed this honor on FirstBank in recognition of its contributions and unwavering commitment to ESG investments in Nigeria. The bank has achieved this through the implementation of innovative financial solutions and initiatives.
Euromoney acknowledged FirstBank’s significant progress in the implementation of an ESG management system. This system has enabled the bank to screen N4.2 trillion worth of transactions for potential ESG risks in 2024. In addition, FirstBank demonstrated its commitment to Nigeria’s green transition by funding a $10 million solar energy project. By expanding access to off-grid solar solutions in Africa and Asia through a pay-as-you-go model, the bank is promoting sustainable energy sources. Furthermore, FirstBank allocated N16 billion to develop four modular independent power plants for a major beer manufacturer, reducing its reliance on diesel generators and lowering production costs.
As part of its ESG initiatives, FirstBank also launched a tree planting campaign in collaboration with the Nigeria Conservation Foundation. The aim is to plant over 50,000 trees in 2024, showcasing the bank’s dedication to environmental sustainability as a core aspect of its business agenda.
Mrs. Folake Ani-Mumuney, the Group Head of Marketing & Corporate Communications at FirstBank, expressed her delight at receiving the Euromoney Award. She stated, “We are thrilled to be recognized as Nigeria’s Best Bank in ESG by Euromoney. This award is a testament to the power of enabling giants within our employees, businesses, and communities to achieve success.”