Luanda — Fifteen banking institutions operating in Angola signed on Monday in Luanda a 'Letter of Commitment of the Banking Sector for Sustainable Finance', with the aim of integrating environmental, social and governance (ESG) criteria into the country's financial activity.
A statement from the Angolan Association of Banks (ABANC), sent on Tuesday to ANGOP, states that the intention is to support Angola's transition to a more resilient, inclusive and low-carbon economy.
The signing of the commitment took place on the sidelines of the Executive Workshop on Sustainable Finance and the document will be publicly presented during the IV Conference on Sustainability in Banking, on Wednesday.
According to the document, in this initial phase, Access Bank Angola, Millennium Atlântico (ATL), Banco Angolano de Investimentos (BAI), Banco Caixa Geral Angola (BCGA), Banco Comércio e Indústria (BCI) and Banco de Crédito do Sul (BCS) signed the protocol.
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Banco Económico (BE), Banco de Fomento Angola (BFA), Banco BIC, Banco de Investimento Rural (BIR), Banco de Poupança e Crédito (BPC), Banco Keve, Banco Sol, Standard Bank Angola (SBA) and Banco Yetu will also sign the document.
The note underlines that, with this initiative, banks are committed to progressively integrating sustainability into corporate governance and business strategies, as well as incorporating climate and social risks into investment valuation and developing new financial instruments.
The mobilization of international climate finance, training of staff and the strengthening of transparency, through the annual disclosure of the progress achieved, are also among the goals of the agreement.
The letter recognizes that the country faces challenges arising from climate change, such as droughts, floods and coastal erosion, with an impact on strategic sectors such as agriculture, water resources, energy, fisheries and infrastructure.
The commitment is in line with the National Strategy for Climate Change 2018-2030, with the operational framework for sustainable financing and with the principles of Sustainability of the Angolan Financial Sector, defined by the National Bank of Angola (BNA).
On the other hand, ABANC will hold, this Wednesday (July 1), in Luanda, the IV Conference on Sustainability in Banking, under the motto 'Sustainable Finance in Angola: From Strategy to Implementation with Inclusive Impact'.
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The opening session is expected to be attended by members of the Executive, regulatory entities, financial institutions, multilateral organizations and national and international experts. OPF/CS/DOJ
