Sustainability Focus and Initiatives
Sustainability has become increasingly important to us, our customers, stakeholders and the larger society. As a Bank, we are making concerted efforts to entrench sustainable practices in all our operational activities and businesses with our main focus on finance, environment, health and education.
As a deliberate strategy, we will continue to drive our corporate sustainability initiatives with focus on promoting responsible business practices, reducing our environmental footprint and creating shared value for our stakeholders. As a bank we have aligned our sustainability initiatives with the Sustainable Development Goals (SDGs), Nigerian Sustainable Banking Principles (NSBPs) and UNEP-FI Principles for Responsible Banking.
Corporate Social Investment
Wema Bank believes in empowerment through nationwide programmes focusing on health, education, finance and environment in achieving the well-being of our stakeholders. Several initiatives have been set up to realize this. We focus on locally- based supplier to further support MSME (Micro, Small and Medium Enterprise) growth.
As part of corporate sustainability initiatives, Wema Bank Plc is concerned about the impact of the bank and its stakeholders’ activities on the environment. By doing this, it’s our way of preserving the future and making the environment a suitable and vigorous place to operate, not just for us but for shareholders, employees, their children and generations to come. As a strategy, we have continued to implement eﬃcient measures to reduce the negative impact of our environmental and social footprint at our business locations. Our business thrives on these ecological resources.
Women Empowerment Programme
The Bank embarked on several ﬁnancial inclusion and empowerment programmes for women in our host communities. We believe in sharing knowledge and advanced thinking for the wider socio-economic beneﬁt. Hence, we are committed to developing the Nigerian women to take advantage of the opportunities of learning from the experts in business, ﬁnance and career.
Promoting Employee Engagement Development
Wema Bank is concerned about its employee’s development, inclusion and diversity. Our employees are our most important asset, as such we will continue to improve our employee value proposition to address work-life balance, review our employee retention strategy to help us retain our best staff and encourage our staff to utilize our e-learning channels for skills and knowledge development. We are dedicated to promoting employment of disabled workers, promoting the role and improving gender equality at the office.
Governance and Reporting
The Board Nomination and Governance Committee has the responsibility for driving the sustainability agenda of the Bank. The key sustainability decisions are reviewed and approved by the Committee members while the Sustainability Department through the Sustainability Advisory Committee reports progress made on the goals and targets to ensure transparency and accountability. In compliance with the Nigerian Sustainable Banking Principles (NSBP), the Bank reports progress made on targets and goals semiannually. We intend to undertake a sustainability audit and commence the Global Reporting Initiative (GRI) for the eﬀective measurement of the impact of our sustainability initiatives.