Chief Executive Officer of the Chartered Institute of Bankers-Ghana (CIB-Ghana), Robert Dzato has urged banking professionals to educate, adopt and integrate Environmental, Social and Governance (ESG) strategies into their business operations.

According to him, the incorporation of ESG in Ghana’s banking sector is aimed at ensuring sustainability, confidence and professionalism are enforced within the industry.

Speaking on the sidelines of the 26th National Banking Conference in Accra on November 8, 2022, Robert Dzato said there are various benefits and opportunities for banks operating in the country, should they adopt ESG strategies.

“Our role as CIB Ghana is to ensure banks and banking professionals are well educated in ESG. So far, we are holding training programmes with collaboration from International Finance Corporation but most importantly, we are putting ethics and professionalism on the agenda because ESG is about sustainability,” Robert Dzato said.

Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah said he is optimistic that banks operating in the country will fully incorporate EGS strategies into their daily activities and operations.

“As we speak, every single bank has physically signed onto the principle and we are working with the Bank of Ghana to ensure the implementation is not just on paper but ESG is embedded into the daily activities and operations of banks,” the GAB CEO disclosed.

Meanwhile, the 26th National Banking Conference is themed; “The future of banking in Ghana: Ethics Professionalism and ESG Imperative”

The conference was attended by a host of banking professionals to deliberate on how banks can survive and thrive in the current disruptive challenges facing the banking sector and national economy.

Some speakers at the conference emphasized the importance of enforcing ethics, professionalism and sustainability toward the growth of Ghana’s financial sector.

As part of efforts to help curb untimely shocks and allay investor apprehensions to promote confidence, the Bank of Ghana and the Ghana Association of Bankers in 2019 launched the country’s Sustainable Banking Principles and Sector guidelines.

In May 2021, the Securities and Exchange Commission also signed an agreement with the International Finance Corporation to help develop green bonds in Ghana.

MA/FNOQ