CBN, IFC to Host 2014 International Sustainable Banking Forum in Lagos

The Central Bank of Nigeria and IFC, a member of the World Bank Group, will host the second International Sustainable Banking Forum on March 3-4, 2014, in Lagos, Nigeria.

The Forum will serve as a platform to share international and local experience and best practice on sustainable banking, and to build partnerships to support sustainable banking in emerging markets.

The Forum will bring together policymakers from governments, multilateral development banks, financial institutions, civil society organizations, and technical institutions, to share insights and ideas on sustainable banking.  

Dr. Sarah Alade, acting governor, Central Bank of Nigeria said “The financial sector in emerging markets has a critical role to play in fostering sustainable economic growth. We are partnering with IFC to create knowledge sharing through the Forum and generate critical guidance on environmental and social risks management for banks and other financial institutions.”

Sustainable banking helps banks and financial institutions better understand the benefits and risks of environmental and social impacts of their investments and loans. It provides a framework for them to further integrate these considerations into their policies, operations and procedures. 

This creates environmental and social responsibility in the financial sector and adds long-term value for clients and other stakeholders. 

Solomon Adegbie-Quaynor, IFC country manager for Nigeria, said, “The Forum will bring together representatives from the Nigerian financial sector with colleagues from all over the world. It is a great opportunity to promote principles within the industry that advance sustainable business growth and economic development.”

The International Sustainable Banking Forum is a voluntary platform of bank regulators and banking associations established to facilitate knowledge sharing and development of standards, policies and guidelines on environmental and social risk management for regulators in emerging markets.

The Network members currently include Bangladesh, Brazil, China, Colombia, Indonesia, Lao, Mongolia, Nigeria, Peru, Philippines, Thailand and Vietnam.