Climate change remains a financial risk – Access Bank

Access Bank PLC said it has embedded climate risk considerations across its governance structure, operations, and financial decision-making processes.  The Executive Director, Risk Management, Dr. Greg Jobome spoke at the launch of the Climate Governance Initiative Nigeria (CGIN) Chapter, hosted by Lagos Business School. In his presentation, Jobome noted that climate change is a standing […]

Access Bank PLC said it has embedded climate risk considerations across its governance structure, operations, and financial decision-making processes. 

The Executive Director, Risk Management, Dr. Greg Jobome spoke at the launch of the Climate Governance Initiative Nigeria (CGIN) Chapter, hosted by Lagos Business School.

In his presentation, Jobome noted that climate change is a standing agenda item at both Board and Executive Management levels, with dedicated policies and systems in place to monitor and manage its impact.

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He said the bank has implemented a range of climate-focused initiatives including the measurement and reporting of Scope 1, 2, and 3 emissions, adoption of the

Partnership for Carbon Accounting Financials (PCAF) model for financed emissions, and application of global reporting frameworks such as Task Force on Climate-related

Financial Disclosures (TCFD) and the recently launched International Financial Reporting Standard (IFRS) S1 and S2 standards.

According to him, to date, Access Bank has installed over 974 solar-powered ATMs, reduced paper usage by more than 72% through process automation, and achieved a 50% reduction in landfill waste at its headquarters through comprehensive recycling initiatives. 

Jobome stated that climate considerations are integrated into credit approvals, capital expenditure planning, and the development of green financial products. 

These, he said, include offerings like Switch to Solar, Solar for Health, and mini-grid solutions targeted at supporting energy transition and low-carbon growth.

“Access Bank’s climate risk journey reflects a long-standing commitment to building a sustainable institution,” Jobome said.