Guaranty Trust Holding Company (GTCO) screened all 196 corporate credits approved by the Bank in 2023, for environmental and social (E&S) risks to ensure that its lending activities do not negatively impact the environment or society.
GTCO’s commitment to sustainability is demonstrated by its Environmental & Social Risk Management (ESRM) framework, which is integrated into its credit approval process.
“Our ESRM team categorizes project-related transactions into high, medium, and low risks. For high-risk sectors, we conducted enhanced due diligence, while moderate due diligence was performed for medium-risk sectors, as classified by the Central Bank of Nigeria (CBN),” GTCO said in its most recent 2023 Sustainability Report seen by MoneyCentral.
This assessment reviews E&S practices against key national regulations and international best practices.
GTCO applies an exclusion checklist to all credits, regardless of their risk category. Based on due diligence assessments, the Bank developed Environmental and Social Action Plans (ESAP), which its customers are required to implement, and the lender monitors their progress over time.
The financial services firm’s commitment to upholding the values of environmental stewardship and minimizing Greenhouse Gas (GHG) emissions is proactive and comprehensive.
Across its network, it operates 59 ATMs that are exclusively powered by solar.
GTCO continues to take significant steps towards capacity building and gender equality. In 2023, the Bank trained 3,321 employees in various courses to enhance their knowledge of sustainability concepts.
These courses include Building a Sustainable Enterprise: The Role of ESG, Green, Social, and Sustainability (GSS) Bonds, IFRS for Small and Medium Scale Entities (SMEs), Integrating Renewable Energy into Nigeria’s Energy Mix: Prospects and Challenges, among others.
In line with the UN Sustainable Development Goal (SDG) 5, “Gender Equality”, the Bank remains committed to promoting gender equality and women empowerment.
Currently, 49.47% of GTCO’s employees are women, 41.03% of senior management positions are held by women, and 50% of Board of Directors are women.
To raise awareness about men’s well-being, GTCO celebrated International Men’s Day with the theme “Zero Male Suicide”.
The event featured activities such as webinars on substance abuse and addiction, stress management and anger management sessions, financial management workshops, a men’s dress-up contest, sports trivia, and after-party activities.
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