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Stanbic IBTC Calls on Businesses to Protect Environment

The Chief Executive of the StanbicIBTC Holdings Plc. Dr. Demola Sogunle, has urged on corporate organisations to contribute towards the protection of the environment by working towards zero emissions.

Sogunle made the call during the Stanbic IBTC 2021 Sustainability Week event, that was tagged “Working Towards Net Zero Emissions.”

The objective of the event, according to the Stanbic IBTC, was to promote public awareness on the impact of climate change and provide practical methods towards reducing carbon footprints and achieving net zero emissions.

Sogunle said in his opening remark: “We all cannot continue to ignore our responsibility in the current changes to the climate. Through small adjustments leading to a more conscientious and sustainable lifestyle, each one of us can take part in the global climate protection project.

“As reflected in one of our strategic value drivers ‘SEE’ (Social, Environmental and Economic) Impact, the Stanbic IBTC is focused on ensuring it does business responsibly whilst positively impacting the society and environment where we operate.

“As such, the 2021 Stanbic IBTC Sustainability Week is an opportunity for us to advance awareness around practical steps we are taking, and more which we can take, to make our world a better place.”

The webinar featured seasoned experts including Group Head, Sales, Banks, Gas Stations and SMEs at Starsight Energy, Ms. Temesoye Jack; the Chair in Sustainable Finance and Governance at the European University Institute (EUI), Professor Kenneth Amaeshi and the Group Chief Executive Officer, THLD Group Oluwasegun Olajuwan,.

Jack stated that renewable energy sources like solar energy could help countries attain net zero emissions.

She said: “Solar energy can help us move towards reducing greenhouse emissions. We need to have more energy efficient offices nationwide. However, this shift will not happen overnight as it is a gradual process.”

She explained that Nigeria has barely scratched the surface when it comes to renewable energy and emphasised that sustainable practices do not have to end in the office but must be observed in all areas of the country

Professor Amaeshi highlighted the importance of harmonising technology upgrades and sustainable growth to reduce carbon emissions.

He explained that sustainability at the global level is targeted at mitigating the adverse effects of climate change. “From recent surveys, it is clear individuals are ready to go green. The affordability of clean energy will determine if we will be able to reduce carbon emissions,” he said.

Speaking on practical steps that could be adopted to help in achieving net zero emissions, Olajuwan said: “Autogas has been around for 40 years, and Nigeria is not fully embracing it. It is safer, cleaner and more cost effective than fossil fuel and diesel. Vehicle conversion from fuel to Autogas is affordable. CNG (Compressed Natural Gas) is more efficient than fuel. The use of CNG in vehicles mitigates the emission of nitrous oxide and hydrocarbons by 40 per cent and 90 per cent respectively compared to petrol.”

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