Equity Group Unveils 2023 Sustainability Report
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- September 4, 2024
Equity Group, a leading financial services provider in Africa, has released its third annual sustainability report for 2023.
The report, titled “A Sustainable World is a Transformed Africa,” highlights the Group’s unwavering commitment to socio-economic and environmental transformation.
Key Highlights
- Tri-Engine Approach: Equity Group’s sustainability strategy encompasses economic, social, and nature and environment focus.
- Environmental Stewardship: The Group has made significant strides in reducing its environmental footprint.
- Social Impact: Equity Group’s social programs have reached millions of individuals, providing access to education, healthcare, and financial services.
- Financial Inclusion: The Group has been a pioneer in financial inclusion, leveraging technology to reach underserved populations.
- Leadership and Innovation: Equity Group has been recognized for its leadership in sustainability and innovation.
A Vision for a Sustainable Future
Equity Group’s sustainability efforts are aligned with its broader vision of transforming Africa. By integrating environmental, social, and governance considerations into its core operations, the Group is demonstrating its commitment to building a more sustainable and equitable future for the continent.
The Group:
- Underscores its commitment to advancing sustainability through the enhancement of its strategy from a twin engine to a holistic tri-engine model focusing on Social, Economic, Nature and Environment all driving a sustainable business model. This go-to market approach will see the Group accelerate its actions in key sustainability areas such as Environmental, Social, Climate and Nature risk management, climate finance, socio-economic resilience support, sustainable integrated financial services, and stakeholder impact.
- Acknowledges the important role that natural capital plays in Africa’s economy and has taken a leading role by becoming an early adopter of the Task Force on Nature-related Financial Disclosures (TNFD), leading to the incorporation of nature risk in decision making, undertaking the first nature and biodiversity risk assessment on its mining and agricultural sectors.
- Focus on sustainability is demonstrated by its continuous initiatives in social interventions, economic resilience and empowerment efforts which has resulted in the creation of 1,266,182 cumulative jobs under our Young Africa Works Programme amongst other successes. The Group earned recognition by Euromoney as the Best Bank in Corporate Social Responsibility in Africa for 2 years running.
- Continues to lead the way in combating climate change through climate financing, emerging as the leading financial institution among 258 globally partnering with IFC to have the highest number of climate transactions at 47,000 addressing climate mitigation and adaptation initiatives.
Sustainability Initiatives
- Environmental Stewardship:
- Reduced energy consumption in several regions.
- Minimized waste generation and implemented recycling programs.
- Promoted sustainable water management practices.
- Social Impact:
- Reached millions of individuals through social programs focused on education, healthcare, and financial inclusion.
- Provided cash transfers and social pensions to vulnerable populations.
- Supported entrepreneurship and job creation through various initiatives.
- Financial Inclusion:
- Expanded access to financial services through digital channels and agent networks.
- Disbursed billions of shillings in loans and cash transfers.
- Promoted financial literacy and education.
Global Recognition
Equity Group’s sustainability efforts have been recognized by international organizations, including:
- Brand Finance: Ranked as the Second Strongest Banking Brand in the World and the Most Valuable Brand in East and Central Africa.
- International Finance Corporation (IFC): Recognized as the global leader with the highest number of climate-related transactions.
- Euromoney: Awarded the Best Bank for Corporate Social Responsibility in Africa for two consecutive years.
A Call for Collective Action
Equity Group’s sustainability report emphasizes the need for a collective effort to achieve a sustainable future for Africa. The Group encourages businesses, governments, and individuals to join forces and work towards a more equitable and environmentally friendly continent.
For more information, please refer to the full report – Here
