Oceanic partners UN on environmental development

Oceanic Bank International Plc and the United Nations Environment Programme Finance Initiative, have partnered towards introducing measures that would promote environment and sustainable development.

A statement from the bank on Saturday, said the partnership came due to concern about the high level of environmental degradation that has been occurring.

It quoted the Chief Executive Officer, Oceanic Bank, Mrs. Cecilia Ibru, as saying that promoting sustainable development was the collective responsibility of not only the government but also businesses and individuals.

Ibru, who was speaking at the signing ceremony, stated that the bank as a corporate social responsible citizen was committed to economic and social development as well as environmental protection.

She noted that Oceanic Bank, which had already partnered several states on public private partnership, especially in the area of Infrastructure, education and information and communication technology will partner the UNEP and all other relevant agencies towards the promotion and development of the environment.

UNEP FI is a global partnership between UNEP and the financial sector, and over 160 institutions, including banks, insurers and fund managers are currently working with the organisation to understand the impact of environmental and social considerations on financial performance.

According to the statement, Ibru said that the bank was already partnering Lagos State government in its current efforts to make the state a beautiful and environmentally friendly state.

She explained that the bank was reviewing its processes with a view to modifying staff behaviour towards consumption of resources, adding that the strategy to be adopted will involve reduce, reuse, repair and recycle.

In his opening remark, the Head of UNEPFI, Mr. Paul Clement, welcomed Oceanic Bank into the FI family, noting that the bank, with its landmark involvement in building a stronger Nigeria, will surely be a reference for other financial institutions. He said he had high confidence that the bank will set the pace for positive development in environmental development and sustainability.