As part of efforts to strengthen its commitment to responsible business practices, Consolidated Bank Ghana Ltd. (CBG) has joined the United Nations Global Compact (UNGC), a voluntary global initiative that promotes responsible business practices and the advancement of the Sustainable Development Goals (SDGs).
By signing on to the world's largest corporate sustainability initiative, CBG aligns itself with a global network of businesses and organisations committed to upholding 10 universally accepted principles in the areas of human rights, labour, the environment, and anti-corruption.
These principles serve as a guidepost for organisations to integrate sustainability into their strategies and operations, fostering long-term value creation for both the company and society.
The Managing Director of CBG, Mr Daniel Wilson Addo, speaking at the signing ceremony in Accra yesterday, said the agreement signified the bank's unwavering dedication to advancing sustainable development goals and contributing to a more inclusive and prosperous future.
"It is with joy that I announce that CBG is the first state-owned commercial bank in Ghana to be a member of the UNGC. This partnership has become necessary because, as a bank, we are cognisant of the impact of the decisions we make now and the years to come."
"As a member of the UN Global Compact, CBG joins like-minded corporate organisations to accelerate the world's progress towards sustainability. This we do by integrating Environment, Social and Governance (ESG) solutions into our internal operations and business activities, and helping our customers to build and maintain sustainable and resilient businesses that benefit the world at large," he said.
The Executive Director of the UN Global Compact Network Ghana, Mr Tolu Kwaku Lacroix, warmly welcomed CBG to the initiative, stating, "CBG has shown great leadership in the areas of Sustainability and ESG. Along with implementing the Ghana Sustainable Banking Principles, it is an institution that fosters good governance practices among its clients, and supports capacity-building initiatives for its stakeholders."
On his part, the CEO of the Ghana Association of Banks, John Awuah, commended CBG for promoting sustainability in banking.
