FITC unveils new framework for promoting sustainability

The Financial Institutions Training Centre (FITC) is set to launch its sustainability as well as environmental, social and governance (ESG) institute at the inaugural summit designed to address pressing issues in the area.

The pivotal event is set to take place on July 31, 2024, and aims to bring together industry leaders, policymakers and stakeholders to explore the future of sustainability in Africa’s financial sector, FITC said in a statement.

It said it has developed a vision for sustainable development, which will be driven by The FITC Sustainability and ESG Institute, an initiative established with a clear mandate to drive impactful change within the financial services sector and beyond.

With over 43 years of experience in equipping Africa’s financial sector through innovative training programmes, advisory services and comprehensive research, FITC said the institute will add to cocktails of services aimed at powering the financial sector.

“Global and local relevance of The FITC Sustainability and ESG Institute follows the Nigerian Bankers Committee’s launch of the Nigerian Sustainability Banking Principles (NSBP) in 2012, which marked a significant advancement in aligning Nigeria’s financial sector with global sustainability standards. This initiative supports the Central Bank of Nigeria’s (CBN) goals and addresses critical sustainability challenges identified by the regulator.

It also aligns with international ESG trends, showcasing FITC’s dedication to global impact and local relevance. The FITC Sustainability and ESG Institute aims to foster a culture of sustainability within Africa’s financial services sector by providing cutting-edge knowledge solutions through workshops, training and conferences, facilitating policy development and strategic advisory to enhance ESG integration as well as supporting both operators and regulators in achieving their sustainability objectives,” Managing Director of FITC, Chizor Malize, said.

She also said the initiative will contribute to the broader societal goal of sustainable development and responsible business practices. She added that ESG is vital for promoting transparency and accountability while addressing global challenges.