Sustainability, growth and profitability can co-exist – Fidelity Bank MD

By Ebenezer Chike Adjei NJOKU & Sandra Agyeiwaa OTOO

Businesses should embrace environmentally sustainable practices without fear, as the pursuit of sustainability can co-exist with profitability and growth, according to Julian Opuni, Managing Director-Fidelity Bank.

Dispelling the notion that sustainability is a trade-off, he argued that sustainable practices can actually enhance a business’s bottom line by increasing efficiency, reducing costs and improving its reputation among consumers and investors.

In remarks during the third annual Sustainability Conference, which was co-organised with the B&FT, he said this informed the bank’s decision to set ambitious goals and forge partnerships to not only to protect the environment but also promote inclusive economic growth.

“Today I am proud to say that Fidelity Bank has taken significant steps forward, proving that growth and sustainability are not mutually exclusive but can – and indeed must – go hand in hand,” he explained at the event held in Accra.

The conference had as its theme ‘Ensuring Environmental and Economic Sustainability: Collaborating for a Greener Future’.

Mr. Opuni’s comments come as global environmental sustainability is under severe threat with climate change, biodiversity loss, pollution and resource depletion escalating at unprecedented rates.

Greenhouse gas emissions have increased by 40 percent since 1990, leading to a global temperature rise of about 1.1°C. Species extinction rates are estimated to be 10-100 times higher than the natural background rate, driven by habitat loss and deforestation.

Plastic waste is polluting oceans, with an estimated 8 million tonnes entering annually. Air and water pollution are causing millions of deaths worldwide. Overfishing has depleted many fish populations, and water scarcity affects billions of people.

Locally, uneven rain patterns have led to early signs of drought across the country – with severe implications for food inflation and security in 2025.

In view of all these, Fidelity Bank is intensifying its efforts at sustainability, the MD said.

In the area of sustainable finance, the bank supported 103 SMEs through its Young Entrepreneurship Initiative – disbursing                   GH¢14.35million across various sectors including manufacturing, agriculture and technology. The bank’s efforts reached 15,056 individuals through remittances and financial inclusion programmes, mobilising savings of GH¢64.7million. Notably, the bank’s initiatives are estimated to have supported 36,303 jobs.

Fidelity Bank’s commitment to sustainable operations is evident in its recycling of 1.8 tonnes of paper waste. The bank also reported its Scope 3 greenhouse gas emissions at an estimated 78,520 tCO2eq.

The bank’s CSR initiatives have been equally impactful, benefitting 6,409 individuals with a near-equal gender split. Six schools benefitted from the Orange Impact Initiative, while 127 staff volunteers contributed 430 hours to various causes. The bank’s total CSR spend amounted to GH¢1.1million, with projects spread across multiple regions in Ghana.

These efforts align with multiple UN Sustainable Development Goals, demonstrating Fidelity Bank’s holistic approach to sustainability and community development.

Mr. Opuni  also highlighted the bank’s flagship initiative, the Fidelity Bank GreenTech Innovation Challenge (GTIC), as a cornerstone of their sustainability efforts. This programme, part of the broader Fidelity Young Entrepreneurship Fund, aims to nurture innovative solutions to Ghana’s environmental challenges with a particular focus on agricultural technology.

“From developing technologies for urban farming to creating machinery that supports smallholder farmers, these entrepreneurs have shown us the solutions to our agricultural challenges are within reach,” he stated.

He pointed out the bank’s commitment to providing both funding and technical assistance to protect food security through technological innovation.

The Managing Director outlined Fidelity Bank’s three-pillar sustainability approach: sustainable finance, sustainable operations and community initiatives.

This comprehensive strategy underscores the bank’s dedication to integrating environmental stewardship into every aspect of its operations.

Mr. Opuni stressed the urgency of addressing climate change and environmental degradation, stating: “The impacts of climate change, resource depletion and environmental and biodiversity degradation are no longer distant threats – they are here, affecting lives and livelihoods”.

The conference, he noted, serves as a platform for setting actionable goals and fostering collaboration across industries and sectors. He called for bold thinking and decisive action, urging attendees to work together toward a future where economic growth and environmental sustainability co-exist harmoniously.

In a stark warning to the nation, Dr. Godwin Acquaye, CEO-Business & Financial Times (B&FT), painted a grim picture of the nation’s environmental reality as he highlighted severe degradation of the country’s water resources and soil – primarily due to unchecked illegal mining activities.

“We are witnessing the devastation of our water-bodies and soil. What was once a regulated landscape has become a free-for-all, with illegal miners operating with impunity even along major water-bodies,” Dr. Acquaye stated.

Dr. Acquaye recounted a personal observation that underscores the situation’s severity. “Flying over our land, I saw a river that had turned completely brown. This is not just an aesthetic issue; it is the harbinger of a looming water crisis.”

The B&FT CEO warned that if current trends continue, Ghana could face a future where clean water becomes a scarce commodity. “Our water-bodies are being polluted – not just with sediment, but with heavy metals and other toxic substances,” he explained.

“This pollution is already manifesting in our hospitals, where we are seeing an alarming rise in kidney-related ailments.”

The environmental damage extends beyond water pollution. Dr. Acquaye highlighted the persistent nature of pollutants, noting that chemicals used in everyday activities can linger in the soil for decades. “Without proper monitoring and regulation, we are setting the stage for long-term environmental and health crises,” he cautioned.

He also pointed out the shifting rainfall patterns affecting agriculture and increasing frequency of extreme weather events globally. “These are not distant threats. They are happening now – they are impacting our food security and overall well-being,” he emphasised.

“We have all contributed to this problem, whether by carelessly discarding plastic or turning a blind eye to environmental degradation,” he admitted.

“But now, we must all be part of the solution. We owe it to our children and grandchildren to leave them a habitable planet,” he added.

“It is time for both young and old to come together and change our behaviour for the better.”

The post Sustainability, growth and profitability can co-exist – Fidelity Bank MD appeared first on The Business & Financial Times.

Read Full Story