KAMPALA – Housing Finance Bank has officially kicked off the journey in the direction of starting to be a sustainability–certified bank in an celebration held at their head offices in Kololo. The certification awarded by Sustainability Criteria and Certification (SSCI) is specified just after a in depth evaluation of the banks’ environmental, social, and governance (ESG) tactics. Acquisition of the certification will deliver a framework for the bank to evaluate and make improvements to its sustainability performance whilst advertising transparency and accountability.
To witness the launch, Housing Finance Lender was joined by Mr. Arshad Rab – Chairman Global Council of Sustainability Criteria and Dr. Patricia Ojangole – Controlling Director of Uganda Advancement Financial institution and title holder for Sustainability Chief of the Calendar year 2022 (at the Karlsruhe Sustainability Awards Ceremony, World wide Sustainable Finance Conference – Germany).
The SSCI approach at HFB was formally released by Mr. Mugabi K. Michael the HFB Managing Director, Mrs. Peace K. Ayebazibwe the banking companies Govt Director with each other with users of the Senior management group and chosen sustainability champions throughout the numerous departments of the lender countrywide.
Speaking at the function, Mr. Arshad Rab highlighted the Octogan 8 worth chain design that the bank will be assessed on to attain the certification. The Octagon 8 blocks will encompass governance, administration, technological innovation, goods, human capital, enterprise models and stakeholders’ relations. He also recommended the financial institution on taking on this initiative as it is a constructive phase toward financial and environmental growth.
In line with the previously mentioned, the Bank released a new 5-calendar year Strategic Plan 2023- 2027 in December very last yr, with sustainability firmly entrenched at the core of its strategic aims and functions.
“We are thoroughly dedicated to actualizing our strategic ideals as an firm. This motivation forms the basis for the start of our journey to creating a sustainability-qualified financial institution. Although on this journey, we hope to draw on the valued knowledge of our associates existing below right now (UDB) and get advice and understand from the worldwide bodies championing this magnanimous cause” – Mr, Michael K. Mugabi – Managing Director, Housing Finance Financial institution.
Via sustainable financing, the Lender aims to produce benefit for the communities in which it serves and the nation at substantial by encouraging the changeover to a local weather-neutral, resilient, source-effective, and reasonable economy as well as aiding social inclusion.
Housing Finance Bank is happy to get the initial measures in the process of getting to be a sustainability-licensed financial institution and is keenly on the lookout ahead to an remarkable very long-phrase journey ahead.