GCB Bank PLC (GCB) has outlined a broad range of sustainable financing initiatives aimed at supporting climate resilience, financial inclusion and responsible business growth as part of its long-term commitment to Environmental, Social and Governance (ESG) principles.
This was revealed by the Bank’s Executive Director for Wholesale and Investment Banking, Abdulsalam Alhassan, during his presentation at the 11th International Conference on Business Management, Entrepreneurship and Development (ICBMED) hosted by the University of Professional Studies, Accra (UPSA).
In his keynote address on the theme “Financing Sustainability and ESG-Driven Enterprises: The Role of Commercial Banking in Africa’s Economic Transformation” Mr. Alhassan noted that sustainability and ESG considerations are no longer optional but have become critical to economic resilience, investment attractiveness and long-term business stability.
According to him, climate-related disruptions, environmental degradation and governance challenges continue to pose significant financial and economic risks, making it necessary for banks to support enterprises that create jobs while promoting responsible resource use and transparency.
Mr. Alhassan disclosed that GCB Bank has over the past 18 months intensified its sustainability agenda through deliberate policy, operational and financing interventions designed to support ESG-friendly investments and activities.
“The Bank has established a Sustainability Committee at the Board level to provide oversight and accountability for sustainability initiatives across the institution. The Bank has also developed a Sustainability Framework and implemented an Environmental and Social Management System (ESMS) unit to ensure all SME and corporate lending transactions are screened for environmental, social and climate-related risks before approval.”
“In addition, the Bank has restructured its operations to establish a dedicated Commercial and Business Banking (CBB) Division focused specifically on Micro, Small and Medium-sized Enterprises (MSMEs), in recognition of their critical role in job creation and inclusive economic growth. The Bank has also introduced a Staff Community Impact Programme (SCIP), through which employees directly support communities and contribute to the advancement of ESG-aligned initiatives and sustainable development projects” he added.
On the financing front, Mr. Alhassan intimated that the Bank is currently disbursing a US$13million Sustainable Use of Natural Resources and Energy Finance (SUNREF) on-lending facility secured from the French Development Agency (AFD) to support SME clients undertaking sustainable investments.
He revealed that through the SUNREF facility, the Bank has already supported a mid-sized manufacturing company to install solar photovoltaic systems, resulting in approximately 40 percent reduction in energy costs while significantly lowering the company’s carbon footprint.
Beyond environmental financing, Mr. Alhassan highlighted other social impact initiatives including affordable salary advance products, financing support for National Service personnel, investment in student accommodation infrastructure and support for road construction projects aimed at improving access to markets and production centres.
The UPSA International Conference on Business Management, Entrepreneurship and Development has been organised for the past ten years bringing together policymakers, business executives, industry leaders and academia to discuss emerging trends and solutions for business growth and economic development in Africa. This year’s edition was hosted by the Vice Chancellor, Prof. Kwaku Mensah Mawutor and chaired by Mr. Elikem Kotoko, Deputy Chief Executive Officer of Forestry Commission.
GCB Bank PLC is Ghana’s premier indigenous bank and the country’s largest commercial bank. With 183 branches and over 340 ATMs nationwide, the Bank has served as a cornerstone of Ghana’s financial system since 1953, providing innovative financial solutions that support economic growth, financial inclusion and enterprise development across the country.
