By Seun Ibiyemi
Sustainability has taken centre stage in Nigeria’s corporate landscape, with FirstBank of Nigeria Limited reinforcing its leadership in Environmental, Social and Governance (ESG) practices through major investments in renewable energy, financial inclusion and environmental conservation.
As climate change, social inequality and economic uncertainties continue to shape global discourse, the bank said it has strengthened its commitment to sustainable development by embedding ESG principles across its operations.
FirstBank’s sustainability strategy is anchored on three key pillars: education, health and welfare; diversity and financial inclusion; and responsible lending, procurement and climate initiatives.
In the renewable energy space, the bank invested over $9 million in solar home projects across Africa in 2025, providing clean and affordable energy to underserved communities.
It also supported modular power plants with more than N15 billion, boosting energy access and reducing dependence on fossil fuels.
Demonstrating its environmental stewardship, FirstBank fulfilled its three-year commitment with the Nigerian Conservation Foundation (NCF) to plant 51,000 trees nationwide.
The initiative is projected to absorb approximately 720 tonnes of carbon dioxide while promoting biodiversity preservation.
Beyond environmental sustainability, the bank expanded its social impact footprint by equipping over one million students with financial literacy skills, empowering them to make informed financial decisions.
It partnered with CFA Society Nigeria on the CFA Universities Ethics Challenge and supported the 15th Junior Achievement Company of the Year competition, where it presented the FirstBank CEO Award to Team Mauritius (Plantura).
In promoting gender inclusion, the bank invested in leadership development for more than 2,000 female employees through the FirstBank Women Network.
On governance and risk management, FirstBank screened 340 corporate transactions valued at nearly ₦5 billion and $340 million for ESG and sustainability risks, integrating climate and sustainability considerations into its credit framework.
The bank’s efforts have earned it international recognition, including Nigeria’s Best Bank for ESG at the Euromoney Awards for Excellence 2025, marking the second consecutive year it received the honour.
Further underscoring its climate governance commitment, FirstBank is a corporate member of Climate Governance Initiative Nigeria, serving on its Advisory Board and Steering Committee.
The bank also participated in the Directors’ Engagement Series and led the adoption of IFRS S1 and S2 standards to enhance transparency in sustainability disclosures, strengthening board oversight through its Board Risk Management Committee.
With plans to scale up renewable energy investments, expand financial literacy programmes and deepen sustainable finance initiatives, FirstBank said it remains committed to driving inclusive growth and setting the pace for responsible banking in Africa.
The bank maintained that its experience demonstrates that sustainability and profitability can go hand-in-hand, delivering long-term value for stakeholders while contributing to a more resilient and prosperous future.
