Ecobank Ghana launches Sustainability Week with focus on waste transformation

Ecobank Ghana has launched a Sustainability Week Celebration to challenge the status quo, embrace creative solutions, and build a better and more sustainable future for Ghana.

The week is focused on transforming waste into a powerful engine for economic growth, job creation, and environmental protection.

Speaking at the launch, Mrs Abena Osei-Poku, Managing Director Ecobank Ghana, said sustainability was beginning to gain global attention in recent times, particularly by progressive and forward-looking business organisations.?

‘As a leading bank in Ghana, we have found it necessary to join the numerous elite organisations

across the globe to institute a sustainability week to create mass awareness on the subject,’ she said.

The theme for the celebration is ‘Promoting Sustainability Through Waste Transformation: The Ecobank Way.’

Waste has become a global challenge today. Every year, the world generates a staggering 2.1 billion tons of municipal solid waste, with this number expected to balloon to 3.4 bi
llion tons by 2050.

In Africa, that number translates to 250 million tons annually, placing immense strain on infrastructure and the environment, while threatening the livelihood of future generations.

Ghana is not immune to the challenges of sustainability. We generate an estimated 1.7 million tons of waste each year, with urban centres facing the brunt of improper waste management. This not only impacts public health but also squanders valuable resources and pollutes our precious environment.

Mrs Osei-Poku said the bank intended to use the week to showcase its commitment to building a more sustainable future.

She said waste transformation had come in as a burgeoning industry with the potential to create jobs, foster innovation, and contribute to a circular economy.

The Waste-to-Wealth initiative is a new phenomenon in many countries, where organisations work to convert waste from environmental and economic liabilities to valuable resources that create jobs and provide community development opportunitie

She reiterated Ecobank Ghana’s commitment to playing a leading role in propelling Ghana’s waste transformation journey.

‘We are actively financing businesses and projects that promote responsible waste management practices. These include supporting waste collection and sorting facilities, composting initiatives, and the development of innovative recycling technologies,’ she said

The bank currently provides financing and suitable payment platforms for our customers in the waste management sector, and we intend to do more, she said.

‘Internally, we are implementing stricter waste segregation policies within our branches and offices, partnering with recycling companies, and exploring ways to further reduce our paper consumption. ‘

Country Chief Risk Officer at Ecobank Ghana, Mrs Joana Mensah touted the achievements of the bank in promoting sustainability in its operations.

‘We are actively promoting sustainable financing solutions. We are proud to be the first commercial bank in Ghana to be accredited t
o the Green Climate Fund, allowing us to support medium-sized climate-resilient and low-emission projects of up to US$ 250 million,’ she stated.

Ecobank’s collaborations with organizations like AfDB and the Energy Commission both under the Affirmative Finance Action for Women in Africa and accelerating solar action programmes were providing crucial funding for women-led agribusinesses and clean energy initiatives.

Mrs Mensah said the bank’s first climate project, under the Accelerating Solar Action Programme, worth US$ 30 million was approved by the GCF board on March 5 2024 to provide SMEs and households with solar panels and systems.

As part of the sustainability week celebration, the bank will donate recycled products, including upcycled washing basins, recycled exercise books, and recycled waste bins, among others, to the St. Paul’s Senior High School in the Volta region.

The students will also have the rare opportunity to engage waste transformation experts to discuss sustainability issues, including
its implications for local communities.

Source: Ghana News Agency