Stanbic IBTC commences its net-zero emission journey

Stanbic IBTC

Stanbic IBTC commences its net-zero emission journey

As part of its commitment to ensuring a better and more sustainable future for all, Stanbic IBTC Plc has begun taking steps to attain net-zero emissions. This was revealed at a sustainable development webinar titled “Working Towards Net Zero Emissions,” according to a statement made by the bank on Friday.

We cannot continue to neglect our duty in the current climate change,” stated Dr. Demola Sogunle, Chief Executive Officer of Stanbic IBTC Holdings Plc. He went on to say that by making small changes that lead to a more thoughtful and sustainable lifestyle, everyone can contribute to the global climate protection mission.

Kunle Adedeji, Executive Director, Finance and Value Management, reaffirmed the bank’s pledge that Stanbic IBTC is dedicated to enabling a brighter and more sustainable future for all.

He further said that the bank has already started a number of workflows that will aid us in our efforts to achieve net-zero emissions. “Some of these include gaining a better understanding of our energy sources, consumption patterns, and potential areas for efficiency; implementing cleaner energy sources in our office locations, such as autogas and solar energy solutions; and implementing tree-planting programs to aid in carbon sequestration,” he added.

Those who spoke during the webinar included Temesoye Jack, Group Head, Sales, Banks, Gas Stations, and SMEs at Starsight Energy; Prof. Kenneth Amaeshi, Chair in Sustainable Finance and Governance at the European University Institute; and Oluwasegun Olajuwan, Group Chief Executive Officer, THLD Group.

To reduce carbon emissions, Amaeshi stressed the significance of coordinating technology updates with long-term growth. He said, “From recent surveys, it is clear individuals are ready to go green. The affordability of clean energy will determine if we will be able to reduce carbon emissions.” He added that global sustainability is a solution that can address the negative impacts of climate change.

According to Olajuwon, autogas has been around for 40 years, but Nigeria is yet to harness it. He went on to say that using pressurized natural gas in automobiles will reduce nitrous oxide and hydrocarbon emissions by 40% and 90%, respectively, when compared to fossil fuels.

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