Stanbic Bank Honored with NEMA Sustainability Award for Pioneering Green Initiatives

 Stanbic Bank Uganda Limited has once again been lauded for its exceptional dedication to environmental stewardship, receiving the prestigious National Environment Management Authority (NEMA) Sustainability Award in the financial institutions category. The accolade was presented at a ceremony held at the Sheraton Hotel in Kampala, under the theme “Fostering Cleaner Production to Advance Sustainable Development in Uganda.”

Catherine Adengo, Head of Sustainability, and Diana Ondoga, Head of Corporate Social Investment (CSI), accepted the award on behalf of the bank, affirming its leadership in Environmental, Social, and Governance (ESG) standards. Adengo articulated the bank’s deep-seated commitment, stating, “Environmental sustainability is not just an add-on; it is now a core part of our sustainability agenda rooted in our purpose, ‘Uganda is our home, we drive her growth’.”

Stanbic Bank has positioned itself as a pioneer in green finance, implementing a long-term strategy aimed at cultivating a cleaner and greener future for Uganda. In 2024 alone, the bank disbursed a remarkable UGX 62 billion to support green startups and businesses specialising in clean energy, sustainable agriculture, and eco-friendly technologies. These significant investments are directly aligned with the Ugandan government’s climate goals, driving tangible progress across the nation.

Ondoga further highlighted other impactful environmental initiatives undertaken by Stanbic Bank. A notable program includes a robust plastic recycling partnership with Coca-Cola Beverages Uganda Limited. “To date, we have recycled over 97.86% of the plastic waste generated by our operations, totalling 9,234.64 kilograms,” Ondoga revealed, underscoring the success of public-private collaborations in fostering innovation and sustainability.

In a bid to reduce its ecological footprint, the bank has also significantly digitised its operations to minimise paper usage and actively encourages customers to transition to digital platforms. For the limited paper still in use, Stanbic Bank has partnered with Africa Paper Limited to ensure it is recycled into useful items, completing a circular economy approach.

Dr. Barirega Akankwasa, the Executive Director of NEMA, extended his gratitude to all nominees and winners, emphasising the growing importance of ESG standards for socially and environmentally conscious investors. He also announced the launch of the NEMA Compliance Assistance Unit, a new initiative designed to provide free support to developers in achieving environmental compliance, further bolstering Uganda’s commitment to sustainable development.

The National Environment Sustainability Awards, organised annually by NEMA, serve as a vital platform for recognising excellence in environmental stewardship, innovation, and sustainable practices throughout Uganda. The awards are designed to incentivise corporations, government agencies, non-governmental organisations, media, communities, and individuals to adopt forward-thinking strategies in the sustainable management of Uganda’s precious natural resources.