Development Bank Ghana receives standards certification
The Development Bank Ghana (DBG) has received the Award of Certificate of Acceptance under the Sustainability Standards and Certification Initiative at the Global Sustainable Finance Conference.
This event 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”.
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The Global Sustainable Finance Conference 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, 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, 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 in creating a sustainable economy in Ghana.
Award
The award was received by Ghana’s Ambassador to Germany, Gina Ama Blay, on behalf of the bank.
The ambassador acknowledged that the admission of DBG to the Sustainability Standards and Certification Initiative had paved the way for the financial institution to become a catalyst in sustainable industrialisation in Ghana and a major contributor for the promotion of entrepreneurship towards a high value-added economy that Ghana continues to strive to achieve.
She added that “the bank has undertaken numerous awareness and specialist trainings to ensure that all employees are educated and informed about the key tenets of ESG and Sustainability”.
Mrs Blay also used the opportunity to thank DBG’s partners for their support since the establishment of the bank, and expressed the hope that the tenets DBG currently employed throughout its operations would continue to strengthen its commitment to promote a clean, responsible, and green business.
“The bank considers its acceptance into this leading accreditation forum and the certification status as an important milestone that will spur it on in integrating sustainability standards in its operations and importantly advocating the adoption of principles of sustainability in the financial environment in Ghana,” she added.
Profile
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.
It 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 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 to, detailed due diligence appraisals, approvals, monitoring and reporting.