Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainable Finance
• Empowering People
• Supporting Communities
• Environmental Sustainability
• Corporate Governance

Environmental Achievements

• 62% reduction in IT energy consumption through data center consolidation (from 90 to 22 servers)
• Partnership with Nigeria Conservation Foundation (NCF) for wildlife and biodiversity conservation

Social Achievements

• Launched women's network to promote career growth and economic empowerment
• Empowered 3,000 youths as Firstmonie agents through partnership with Osun State Government
• Supported various community development programs (education, health, economic empowerment) totaling over N882 million
• Provided capacity building for 3000 SMEs, particularly women-led businesses
• Over 10 million people reached through Hope Rising drama series on Down syndrome

Governance Achievements

• Strong corporate governance structure with a diverse board (21% women)
• High ethical standards and strict adherence to code of conduct guidelines
• Regular employee training on ethical conduct and sustainability

Climate Goals & Targets

Environmental Challenges

• Limited access to basic financial tools for many Nigerians
• Need to mitigate environmental and social impacts of business operations

Mitigation Strategies

• Developed products and services for the unbanked and under-banked
• Developed Environmental, Social, and Governance Management System (ESGMS) to manage environmental and social risks
• Implemented print optimization program to reduce paper use and carbon emissions
• Invested in green IT initiatives to reduce energy consumption

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Nigerian Sustainable Banking Principles (NSBP), UN Global Compact

Certifications: ISO/IEC 27001:2005 (ISMS), BS 25999 (Business Continuity Management)

Awards & Recognition

• Best Company Supporting SMEs (SERA Awards 2014)
• Category “A” award of the Support Our Schools Programme

Environmental Metrics

ESG Focus Areas

• Sustainable Finance & Investments
• People Empowerment
• Community Support
• Environmental Sustainability

Environmental Achievements

• Improved energy efficiency in data centers and offices
• Reduced paper use
• Partnership with Nigeria Conservation Foundation (NCF)

Social Achievements

• Launched SPARK (Start Performing Acts of Random Kindness) initiative, reaching over 40 million people and impacting 50,000 lives in 8 countries
• Employee Giving & Volunteering program achieved 40,000 volunteer hours
• Improved customer experience through initiatives like self-service machines and mobile notifications
• Financial inclusion initiatives through Firstmonie and FirstMobile, processing over 150 million transactions worth N2.5tn and opening over 136,000 accounts
• Empowered women through FirstGem product, with over 44,356 accounts and N4 billion in deposits
• Supported women-owned businesses with N9 billion in funding
• Youth empowerment programs like FutureFirst impacted over 85,000 students

Governance Achievements

• Fully automated environmental, social, and governance management systems (ESGMS) in operations and decision-making
• 30% female representation on the Board
• Robust risk management framework
• High ethical standards and strict adherence to code of conduct guidelines

Climate Goals & Targets

Environmental Challenges

• Incomplete automation of ESGMS process in 2019
• Inability to meet sustainable procurement targets
• Transaction failures on e-channels causing customer dissatisfaction

Mitigation Strategies

• Ongoing automation of ESGMS
• Focus on integrating sustainability practices into procurement
• Exploring reasons for transaction failures and developing solutions to improve customer experience

Supply Chain Management

Responsible Procurement

• Group’s code of business ethics
• Commitment to environmental stewardship
• Labor standards

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, Nigerian Sustainable Banking Principles (NSBPs), UN Global Compact

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• 1
• 2
• 3
• 4
• 5
• 8
• 13
• 17

Alignment of corporate responsibility & sustainability strategy with SDGs, focusing on financial inclusion

Sustainable Products & Innovation

• FirstGem

Awards & Recognition

• Outstanding Invaluable Company Award by Rotary International
• Excellence in Women Economic Empowerment by Central Bank of Nigeria

Environmental Metrics

ESG Focus Areas

• Sustainable Finance and Investments
• People Empowerment
• Community Support
• Environmental Sustainability

Environmental Achievements

• Reduction in printing access by staff, especially for color printing
• Increased use of conference call facilities for meetings reduced travel, resulting in a reduction of fuel consumption and carbon emissions from vehicles
• Expanded recycling initiative partnering with the Alliance for Responsible Battery Recycling (ARBR)

Social Achievements

• Women-led businesses received N58 billion in loans from FirstBank alone.
• Empowerment programs organized for female staff and customers to increase gender participation in leadership, entrepreneurship, and financial inclusion.
• Launched an e-learning initiative aimed at moving one million children to a robust online learning platform, impacting over 150,000 students.
• FirstBank was certified as a Great Place to Work in the Gold Category, with 72% trust index and 82% employee engagement.

Governance Achievements

• Full automation of the environmental, social, and governance management systems (ESGMS) framework in operations and decision-making.
• Strengthened corporate governance framework adapting it to current realities and emerging trends.
• Board composition includes a higher ratio of Non-Executive Directors to Executive Directors.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic disrupted global supply chains, international travel, and business operations.
• Economic challenges impacting SMEs.

Mitigation Strategies

• Bold COVID-response initiatives, including participation in CACOVID.
• Measures to assist customers, businesses, and communities with financial needs.
• E-learning initiative to address educational disruptions.
• Reviewed loan offerings and provided moratoriums on existing loans to support SMEs.
• Capacity-building events and digital marketing training for SMEs.

Supply Chain Management

Responsible Procurement

• Integration of sustainability practices into procurement process
• Strategic vendor partnership programs
• Oracle E-Business Suite for procurement automation

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option, Nigerian Sustainable Banking Principles (NSBP), United Nations Global Compact (UNGC)

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• Goal 2: Zero Hunger
• Goal 3: Good Health and Well-being
• Goal 4: Quality Education
• Goal 5: Gender Equality
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action
• Goal 17: Partnerships for the Goals

Initiatives aligned with SDGs through sustainable finance, people empowerment, community support, and environmental sustainability.

Awards & Recognition

• CSR Bank of the Year (BusinessDay BAFI Awards)
• 2020 Philanthropic Financial Institution of the Year (CSR Reporters)
• 5th Best Workplace Award (Great Place to Work)
• Best Practice Award in Learning & Development (Great Place to Work)

Environmental Metrics

ESG Focus Areas

• Sustainable Finance and Investments
• People Empowerment
• Community Support
• Environmental Sustainability

Environmental Achievements

• Reduction in printing access by staff, especially for colour printing
• Increased use of conference call facilities for meetings rather than physical attendance has reduced travel, resulting in reduced carbon emissions from vehicles
• Partnered with NCF in the Green Recovery Nigeria (GRN) Initiative and in driving educational initiatives to raise awareness of environmental issues in Nigeria and to encourage sustainable practices in over 30 schools across the country.

Social Achievements

• Launched N5 billion “FirstGem Fund” for women with a single-digit annual interest rate
• FirstBank Women Network (FWN) initiatives impacted over 8,000 female employees
• Implemented community development programmes to promote positive impacts on stakeholders, including Start Performing Acts of Random Kindness (SPARK); FutureFirst (financial literacy and entrepreneurship for young ones) and drove the E-learning initiative. Over 13,450 direct beneficiaries.
• Implemented the World Savings Day programme in 19 states and Global Money Week/Financial Literacy Day in 17 states in partnership with JAN and CBN. Over 3,600 secondary school students benefitted.
• The E-learning Initiative, a collaboration between IBM, Curious Learning and Roducate, continued in 2021, offering access to over 170,000 people on e-learning programmes.
• A new partnership has been signed with Jobberman to provide soft skills training to fresh graduates for improved employability.

Governance Achievements

• Successfully screened for ESG risks transactions valued at N6.29 Trillion.
• Automation of the use of the environmental, social and governance management systems (“ESGMS”) framework in operations and decision-making process.
• Robust corporate governance structure built on accountability, integrity and transparency.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on business operations and communities
• Cybersecurity risks associated with increased digitalization

Mitigation Strategies

• Continued support to customers, communities and other stakeholders to weather the storm of the COVID-19 pandemic and build for the future
• Investment in technology and cybersecurity measures, including a 24/7 Security Operations Centre, threat intelligence feeds, and staff awareness initiatives

Supply Chain Management

Responsible Procurement

• Procuring environmentally responsible products and services (ERP)
• Encouraging suppliers/vendors to minimize environmental impacts and implement the 3Rs approach

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, Nigerian Sustainable Banking Principles (NSBPs), United Nations Global Compact (UNGC), Sustainable Development Goals (SDGs)

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• SDG 2
• SDG 3
• SDG 4
• SDG 5
• SDG 8
• SDG 13
• SDG 17

FBN Holdings’ business goals are aligned with the Sustainable Development Goals (SDGs) for better impact.

Awards & Recognition

• Best CSR Bank Nigeria 2021 by Global Banking and Finance Awards
• Best CSR Bank 2021 by International Business Magazine Awards
• Best CSR Practices Bank in Nigeria 2021 by The Global Economics
• Best ESG Award by BusinessDay

Environmental Metrics

ESG Focus Areas

• Sustainable Finance and Investments
• People Empowerment
• Community Support
• Environmental Sustainability

Environmental Achievements

• Reduction in printing and increased use of conference calls to reduce carbon emissions.
• Partnership with Nigeria Conservation Foundation (NCF) for wildlife and biodiversity conservation and environmental education initiatives in over 30 schools.
• Implementation of sustainable procurement practices focusing on the 3Rs (reduce, reuse, recycle).

Social Achievements

• SPARK Amplification initiative impacting 24,000 people, renovating hospitals and schools, and supporting NGOs. Over N75 million pooled funds and 21,015 staff volunteering hours were committed.
• Enhanced Environmental, Social and Governance Management Systems (ESGMS) screening transactions valued at 4,159,063.14 (N’m) for ESG risks.
• N5 billion dedicated fund for women in small businesses and over 55,000 women FirstMonie agents.
• FirstBank Women’s Network (FWN) initiatives impacting over 8000 female employees.
• Corporate Responsibility and Sustainability (CR&S) Week impacting over 30,000 lives across eight countries.

Governance Achievements

• Robust corporate governance structure aligned with global best practices and regulatory requirements.
• Transparent Board appointment process.
• Board composition reflecting diversity and experience.

Climate Goals & Targets

Environmental Challenges

• Economic uncertainty, geopolitical conflicts, supply chain interferences, and talent shortage.
• Motivating employees to participate in sustainability programs.

Mitigation Strategies

• Intentional sustainability approach focused on minimizing negative impacts and enhancing positive impacts.
• SPARK Amplification initiative to engage employees in community support.
• Enhanced ESGMS framework for responsible lending and risk mitigation.

Supply Chain Management

Responsible Procurement

• Sustainable procurement practices focusing on the 3Rs (reduce, reuse, recycle).
• Encouraging suppliers to minimize environmental impacts and implement sustainability practices.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UNGC, Nigerian Sustainable Banking Principles (NSBP), SDGs

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• SDG 2
• SDG 3
• SDG 4
• SDG 5
• SDG 8
• SDG 13
• SDG 17

Alignment of business goals with SDGs through financial inclusion, sustainable finance, people empowerment, community support, and environmental sustainability.

Awards & Recognition

• Market Leader Nigeria (ESG) by Euromoney Market Leaders 2022
• Market Leader Nigeria (CSR) by Euromoney Market Leaders 2022
• Best CSR Bank Africa by International Magazine 2022
• Best CSR Bank Western Africa by Global Banking & Finance Award 2022
• Best in Corporate Social Responsibility by Great Place to Work 2022
• Ranked 5th in the Best Workplaces for the Large Corporate category by Great Place to Work 2022
• Re-certification as a Great Place to Work in the Silver Category

Environmental Metrics

ESG Focus Areas

• Sustainable Finance and Investment
• Environmental Sustainability
• People Empowerment
• Community Support

Environmental Achievements

• Planted 1,000 trees in 2023, with a commitment to plant 50,000 by 2025.
• Seventeen branches and 12 ATMs are currently being powered by solar energy.

Social Achievements

• Launched SPARK (Start Performing Acts of Random Kindness) initiative impacting about 60,000 lives.
• Achieved 40% female employee ratio in 2023 (target was 2024).
• Disbursed over ₦36 billion in loans to women and women-owned businesses.
• Over 55,000 women agents on Firstmonie platform.
• Over 27,000 employee volunteer hours for philanthropic initiatives.
• Implemented the FutureFirst initiative promoting financial literacy and entrepreneurship among young people.

Governance Achievements

• Reviewed and updated Environmental Social Governance Management System (ESGMS) policy and application.
• Screened 243 corporate credit transactions worth N3,289,205,240,000.00 for ESG risks.
• Board Risk Management Committee provides oversight for sustainability governance.

Climate Goals & Targets

Environmental Challenges

• Climate change risks and opportunities
• Supply chain disruptions (implied)

Mitigation Strategies

• Initiated mainstreaming climate risks and opportunities into business operations.
• Developed ESGMS policy and application for real-time screening of corporate credit transactions.
• Partnered with Nigerian Conservation Foundation (NCF) for tree planting.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (2021), Nigerian Sustainable Banking Principles (NSBP), UN Global Compact (UNGC)

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• SDG 2
• SDG 3
• SDG 4
• SDG 5
• SDG 8
• SDG 13
• SDG 17

The report details how various initiatives contribute to these goals.

Sustainable Products & Innovation

• FirstGem (women-focused financial product)
• FirstMobile App upgrades
• FirstOnline platform revamp
• *894# banking channel enhancements

Awards & Recognition

• Best CSR Bank in Africa (International Business Awards)
• Best CSR Bank Western Africa (Global Banking and Finance Awards)
• The Most Outstanding Bank in Women Empowerment (WIMCA)
• Best Retail Bank in Nigeria (International Finance Awards)
• Highly Regarded in ESG (Euromoney Market Leaders)
• Highly Regarded in CSR (Euromoney Market Leaders)
• Best in Promoting People Leadership Practices (Great Place To Work)
• Gold Certification as a Great Workplace (Great Place To Work)
• Legendary Status Award (Great Place To Work)
• Best in Promoting a High Trust Culture (Great Place To Work)
• Best Financial Inclusion Service Provider in Nigeria (Digital Banker Africa)