The Financial Institutions Training Centre (FITC), has launched the FITC Sustainability & ESG Institute, an effort it said is a significant step in promoting environmental, social, and governance (ESG) principles across Africa.
The new institute, it said, aims to become a hub for industry leaders, academics, policymakers, and change- makers to collaborate on sustainable practices.
"Global awareness of ESG issues is growing, and there is an urgent need for organizations to adopt sustainable strategies," said MD/CEO of FITC, Chizor Malize.
The Institute, she added, will empower organisations to integrate ESG principles through cutting- edge research, comprehensive training programs, and impactful initiatives, ensuring long-term value creation for stakeholders.
Malize acknowledged the FITC Board and the Advisory Board members for their contributions to shaping the Institute's strategies. She emphasized that the success of the Institute will be measured by its tangible impact and the strength of its partnerships.
"The work we do here at the FITC Sustainability and ESG Institute will shape the future of our organizations and contribute to building a more sustainable, equitable, and prosperous world for all," Malize concluded.
In his keynote address, the Deputy Governor of Financial Systems Stability at the Central Bank of Nigeria (CBN) and Board Chairman of the Financial Institutions Training Center (FITC), Philip Ikeazor, underscored the summit's focus on advancing ESG (Environmental, Social, and Governance) practices. Delivered by Nwabueze Orjiakor, it focused on the urgent need for robust ESG (Environmental, Social, and Governance) practices in response to global climate challenges. Emphasizing recent extreme weather events worldwide, including floods and heatwaves, Ikeazor underscored the critical role of ESG in fostering business resilience, value creation, and economic stability.
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Senior Partner at Kenna Partners, Professor Fabian Ajogwu, highlighted the crucial role of governance in ESG. He emphasized integrating ESG discussions into board meetings and strategic planning, ensuring ESG principles are central to decision-making.
Ajogwu also noted the importance of considering regional contexts in implementing governance practices, acknowledging that local nuances are crucial for sustainable outcomes.
Corporate Affairs and Sustainability Director at Coca-Cola HBC, Oluwasoromidayo George, highlighted the importance of social impact within ESG. With over 20 years of experience, George emphasized that corporate initiatives should aim to make society a better place for everyone.
CEO of Risk Insights, Andrey Bogdanov, shared pivotal insights into the role of machine learning and artificial intelligence (AI) in advancing Environmental, Social, and Governance (ESG) initiatives. His presentation emphasized the innovative ESG tool, "Built for Africa by Africans," as a testament to the need for localized and tailored solutions in achieving sustainability goals.
