Stanbic ESG-head advocates deliberate actions to reduce carbon emissions

Head-ESG and Sustainability, Stanbic Bank Ghana, Francis Ayisi has encouraged corporate organisations to make conscious efforts in reducing carbon emissions in the country. This, he said, can benefit the organisations both financially and environmentally. Mr. Ayisi said this at the November 2023 Board/CEO/CAE Governance Forum organised by the Institute of Internal Auditors-Ghana.

Speaking on Stakeholders’ Perspectives on the Threats and Opportunities for African Organisations, Francis Ayisi noted: “Africa contributes less than 10 percent of greenhouse gasses, and that in itself presents a huge opportunity for carbon treatment. African businesses can adopt strategies that reduce those emissions and trade them with the western countries. Stanbic Bank, for example, has taken an initiative to plant trees that absorb carbon. At end of the year, the Forestry Commission will calculate how much carbon has been absorbed by trees the bank has planted.”

He added: “Our strategy is that we are going to calculate the value of how much carbon has been absorbed through our interventions, trade it and put the money back into society as corporate social investment. Corporate organisations need to evaluate their operations and see where they can offset carbon. If you plant an acre of trees, for instance, you save 100 miles of carbon emissions from your car. There are many things we can do as organisations, and we need to make conscious efforts through organisational efficiency exercises to reduce carbon emissions”.

In the global pursuit of sustainable and responsible business practices, the imperative of addressing climate change has taken centre-stage. Francis Ayisi’s advocacy for deliberate actions to reduce carbon emissions reiterates a critical call to action. The Institute of Internal Auditors-Ghana’s November 2023 Board/CEO/CE Governance Forum brought together key stakeholders in the ESG and sustainability space to deliberate on the theme ‘Navigating the Waves of Change: The Role of Governance’.

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