Staff Writer
NMB Holdings says it remains committed to mainstreaming environmental, social and governance aspects in all of its operations and continually improving sustainability practices.
ESG aspects are emerging as core values of companies, major financial institutions and shareholders around the world.
The ESG pillars are used by companies developing and framing business strategies and reporting on performance beyond financial measures.
NMB said it will continue to prioritise compliance and meeting regulatory requirements in addition to stakeholder requirements.
The financial institution said it considers sustainability as a core element of its business strategy.
“In the year under review, we consolidated our sustainability practices and strengthened our reporting capabilities. The board undertook deliberate actions to provide guidance on the emerging sustainability issues,” NMB’s chairman Pearson Gowero said in a statement accompanying financials for the year ended December 31, 2023.
He said the group embarked on a company-wide ESG training and capacity building programme aimed at equipping all employees on the implementation of ESG in line with International Finance Corporation Performance Standards.
“A total of 338 members of staff were trained on ESG. The board and executive management also participated in the training. Further, our board and executive management received training under the Oxford Leading Sustainable Corporations initiative. Our people remain a priority in all activities that we undertake,” Gowero said.
ESG measures the sustainability and societal impact of a company, and ESG criteria help better determine the company’s sustainability financial performance in the future, often aligned to identified United Nations Sustainability Development Goals.