By Buertey Francis BORYOR
Consolidated Bank Ghana Ltd. (CBG) is poised to plant 60, 000 trees in a quest to support the nation’s ‘Green Ghana Project’ while contributing to its climate goals.
The drive demonstrates the bank’s commitment to environmental sustainability and restoring the country’s forest cover. It is also to advance Sustainable Development Goal (SDG) 15 and aligns with its corporate social responsibility (CSR).
SDG 15 calls for protection, restoration and promotion of sustainable use of terrestrial ecosystems, sustainably managing forests, combatting desertification, halting and reversing land degradation and biodiversity loss.
The bank will be planting 60,000 trees across local communities with a larger part of the community being Mpraeso, capital of the Kwahu South district in Eastern Region to restore and preserve the natural landscape. The CBG tree-planting initiative is themed ‘Growing for a Greener Tomorrow; CBG’s Commitment’.
Managing Director-CBG, Daniel Wilson Addo, while speaking at a brief ceremony to launch the initiative at the bank’s head office in Accra highlighted the critical role trees play in addressing environmental challenges.
“Trees play a critical role in addressing challenges of the environment – absorbing carbon dioxide, producing oxygen, preventing soil erosion and providing habitats for countless species of plants and animals.”
Additionally, he emphasised bank’s commitment to environmental sustainability and highlighted the need for a concerted effort toward preserving the planet for future generations.
“At CBG, we recognise that we have a responsibility to be stewards of the environment. That is why we are proud to launch this tree-planting initiative, which aligns directly with our commitment to supporting the UN’s Sustainable Development Goals and Ghana’s Nationally Determined Contributions under the Paris Agreement.
“As we gather here, we are reminded of the importance of environmental sustainability and the role we must all play in preserving our planet for future generations. Caring for the earth is our most ancient and worthiest and, after all, our most pleasing responsibility,” he said.
He also noted that as a bank which drives sustainability and signed on to the Bank of Ghana’s sustainable banking principles and UN Global Compact, CBG has incorporated sustainable practices into its processes.
Mr. Addo further said: “By coming together to plant these trees, we are not only beautifying our environment but also taking action to address the pressing environmental challenges we face. This is part of our holistic approach to sustainability, which also includes measures to reduce our carbon footprint, increase our use of renewable energy and promote sustainable practices throughout our operations.”
Head of Sustainability at the Bank of Ghana, Stephen Armah, in a keynote address noted banks that prioritise sustainability can enhance their public image and attract customers who value environmental responsibility.
He added that studies have shown that companies with strong ESG performance tend to have better stock performance and lower volatility – making them attractive to a broad range of investors; and adopting sustainable practices also helps to ensure long-term viability for a bank. By embedding sustainability into their core operations, he further said, banks can better prepare for any future economic, environmental or social shift.
Executive Director-Forest Service Division, Hugh Brown, lauded the bank for its tree-planting initiative, saying it has become a beacon for other financial institutions.
