Development Bank Ghana (DBG) has received the Award of Certificate of Acceptance under the Sustainability Standards and Certification Initiative (SSCI) at the Global Sustainable Finance Conference.
This was held from December 1 to 2, 2022 in Karlsruhe, Germany under the theme: “Breaking the Ground: Building High Income Sustainable Economy through the Financial Sector.”
The Global Sustainable Finance Conference (GSFC) is a distinctive global forum that is focused on innovating banking and finance for a sustainable world.
The conference which has been held annually since 2011, brings together key stakeholders for sharing new ideas on financing Micro, Small, and Medium Enterprises (MSMEs), examining innovative approaches for large project financing and exchanging knowledge and experience on making financial services responsive to the call for creating a socially inclusive, environmentally friendly, and sustainable economy.
The Conference under its Sustainability Standards and Certification Initiative (SSCI) conferred on Development Bank Ghana the special recognition of a Sustainable Certified Financial Institution on the merit of the Bank’s commitment to building a strong and resilient institution and its effort to creating a sustainable economy in Ghana.
The Award was received by Ghana’s Ambassador to Germany, H.E. Gina Ama Blay, on behalf of the Board of Directors of DBG and its Chief Executive Officer, Mr. K. Duker.
In her address, the Ambassador acknowledged that the admission of DBG to the Sustainability Standards and Certification Initiative has indeed paved the way for the financial institution to become a catalyst in sustainable industrialization in Ghana and a major contributor to the promotion of entrepreneurship, toward a high value-added economy that Ghana continues to strive to achieve.
Her Excellency further explained how DBG, within a year of launching its operations, has built a dedicated Sustainability and Climate Finance Team that is responsible for oversight of ESG and sustainability and ensuring that the Bank is well-positioned to implement and execute the necessary processes and procedures under local and international sustainability standards.
She added that “the Bank has undertaken numerous ESG awareness and specialist training to ensure that all employees are educated and informed about the key tenets of ESG and Sustainability.”
Ambassador Blay also used the opportunity to thank DBG’s partners for their invaluable support since the inception of the Bank and expressed the hope that the tenets DBG currently employs throughout its operations will continue to strengthen its commitment to promote a clean, responsible, and green business.
The Bank considers its acceptance into this leading accreditation forum and certification status as an important milestone that will spur them on in integrating sustainability standards in its operations and importantly, advocating for the adoption of principles of sustainability in the financial environment in Ghana.
DBG is a Development Finance Institution, established by the Government of Ghana in November 2021, in accordance with the Development Finance Act, 2020 to serve as an enabler for businesses in Ghana and as a long-term capital provider in the market.
The development bank is committed to ensuring good environmental and social performance through the integration of sustainable development in its financial and non-financial activities and by seeking to address the environmental and social (E&S) risks of its financing and lending activities. The bank’s operational policies incorporate ESG elements in the wholesale lending process from basic eligibility of Participating Financial Institutions (PFIs) to, detailed due diligence appraisals, approvals, monitoring, and reporting.