CBG Commits to UNGC for Sustainable Business Practices

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by KnowESG
KnowESG_CBG to strengthen sustainable business practices
Image courtesy of Freepik

Consolidated Bank Ghana Ltd. (CBG) has taken significant steps to reinforce its commitment to responsible business practices by joining the United Nations Global Compact (UNGC).

The UNGC is a voluntary global initiative that champions responsible business practices and the advancement of the Sustainable Development Goals (SDGs).

By becoming a signatory of the world's largest corporate sustainability initiative, CBG aligns itself with a global network of businesses and organisations dedicated to upholding ten universally accepted principles encompassing human rights, labour, the environment, and anti-corruption.

These principles serve as a guiding light for organisations, helping them integrate sustainability into their strategies and operations, thereby fostering long-term value creation for both the company and society.

During the signing ceremony held in Accra yesterday, Mr Daniel Wilson Addo, the Managing Director of CBG, emphasised that this agreement signifies the bank's unwavering dedication to advancing sustainable development goals and contributing to a more inclusive and prosperous future.

Mr Addo expressed his delight, stating, "I am thrilled to announce that CBG is the first state-owned commercial bank in Ghana to become a member of the UNGC. This partnership is essential because, as a bank, we are fully aware of the impact our decisions today will have in the years to come."

"As a member of the UN Global Compact, CBG joins hands with like-minded corporate organisations to accelerate the world's progress towards sustainability. We achieve this by integrating Environment, Social, and Governance (ESG) solutions into our internal operations and business activities while also assisting our customers in establishing and maintaining sustainable and resilient businesses that benefit the world at large," he added.

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Mr Tolu Kwaku Lacroix, the Executive Director of the UN Global Compact Network Ghana, warmly welcomed CBG to the initiative, praising the bank's leadership in sustainability and ESG. He noted that CBG not only implements the Ghana Sustainable Banking Principles but also promotes good governance practices among its clients and supports capacity-building initiatives for its stakeholders.

In response, Mr John Awuah, the CEO of the Ghana Association of Banks, commended CBG for its commendable efforts in promoting sustainability in the banking sector.

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Source: Ghanaian Times

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