At Prudential Bank Limited (PBL), we firmly believe that our business of banking thrives because of our valued customers. Hence, we have taken steps to ensure that our services meet the needs of the current generation without compromising the ability of future generations to meet their own needs. Our Sustainability framework encompasses a comprehensive approach that integrates environmental, social and governance concerns, amongst others, in all of our decision-making and corporate planning processes.
Our goal is to ensure that we deliver on our core responsibility, which is to our shareholders, customers and employees. Therefore, operating our business sustainably and building a culture of sustainability remains our primary focus.
We aim at contributing to a more sustainable society and continually improving the positive impacts we make by:
+ Ensuring the implementation of an Environmental and Social Risk Management System
- At PBL, we believe that good environmental, social and governance considerations are a primary objective for responsible lending. Hence, we have developed a comprehensive program aimed at integrating environmental and social (E&S) risk assessment in our credit underwriting and appraisal process. This is to ensure that negative socio-economic impacts as well as environmental concerns associated with our lending practices are avoided and where possible, engage project proponents in establishing corrective mitigation measures.
+ Adopting measures to reduce our Internal Carbon Footprint
- At PBL, we remain responsible for carbon emissions associated with our activities. Hence, we are taking steps to implement innovative solutions to help reduce our carbon footprint, mainly through our operations and key resources used by the bank as we aim to contribute towards actions on global climate change mitigation.
+ Ensuring Resource Efficiency
- At PBL, we understand the value of resource efficiency, not just for our Bank but for the broader economic growth of Ghana. As a bank, we have resolved to contribute towards the global environmental and social agenda. Our objective is to ensure that our business operations, as well as our clients’ activities, contribute towards achieving a circular economy.
+ Promoting Gender Equality through Diversity and Inclusion
- At PBL, we firmly believe in equality and fairness, regardless of age, gender, ethnicity amongst others. In line with growing societal demands for gender-smart solutions, we prioritize promoting inclusion and diversity within our organization. Our operations and financing decisions incorporate considerations of gender equality and diversity as part of our commitment to sustainability.
+ Ensuring the promotion of Financial Inclusion
- Our mission is to provide accessible, affordable and inclusive financial services to all, thereby making our services accessible, affordable and readily available to everyone regardless of the socio-economic barriers that may exist. We will take steps to provide innovative financing and business models which reflects our vision, with a primary focus on providing services to the unbanked and underbanked.
+ Adopting good Corporate Governance and Ethical Standards
- Our goal is to pursue business opportunities while ensuring accountability and ethical integrity. We understand that good corporate governance helps build an environment of trust, transparency and accountability which is necessary for business integrity. On the credit side, we will put in measures to refrain from doing business with entities engaged in unethical practices in their business operations.
+ Ensuring transparency through Reporting and Disclosure.
- Our objective is to ensure transparency through disclosure. Reporting remains critical to us, as it enhances market integrity and informs the performance and impact of our decisions (i.e. both operational and financial) on sustainability.
Our Environmental and Social (E&S) Risk Policy
Our comprehensive E&S risk policy approved by the Board of Directors stands as a testament to our dedication towards the Sustainable Development Goals, Paris Agreement on Climate Change, the Ghana Sustainable Banking Principles as well as globally recognized ESG frameworks. With this policy, we ensure that potential negative socio-economic impacts and environmental concerns related to our lending activities are identified and mitigated effectively.
The bank will undertake tiered Environmental and Social Due Diligence (ESDD), in addition to financial due diligence for projects considered for financing, as per our procedure.
We do understand that a crystalized E&S risk could easily translate into Credit Risk, Market Risk, Operational Risk and Liquidity Risk for the Bank.