A. Environment

• Climate Change
  We advocate a proactive response as tackling climate change will require a concerted effort between government, business and individuals.
  
  The impacts of climate change can already be seen and there is no question that climate change will continue to impact our customers and our own operations, which is why the issue is central to our strategy.
  
  Access Bank has embarked on new environmentally-friendly initiatives and we are irrevocably committed to reducing our carbon footprint. Activities in line with these new initiatives are continuous to enable the Bank achieve its set environmental targets.
  
  
• Global Investors Statement
  Investor Statement on a Global Agreement on Climate Change, has been produced by an international collaboration of four investor and finance sector associations namely the United Nations Environment Programme Finance Initiative (UNEP FI); the investor Network on Climate Risk (INCR); the institutional Investors Group on Climate Change (IIGCC); and the investor Group on Climate Change/Australia and New Zealand (IGCC) Australia/New Zealand). The statement calls on world leaders to reach a strong post-2012 climate change agreement in Copenhagen in December, 2009.
  
  Access Bank Plc as a committed member of the United Nations Environment Programme Finance Initiative (UNEP FI) signed on to the statement to demonstrate the importance that investors attach a strong, credible and effective global agreement on climate change being reached at the UN Climate Conference in Copenhagen.
  
  This statement outlines in details what investors are looking from policymakers in order to allocate capital in a way that supports both the transformation to a low carbon economy and the development of adaptation measures. This includes:
  
  
  • A binding global target for reducing greenhouse gas emission, the reductions are informed by the latest available scientific evidence for avoiding dangerous climate change (which suggests that global greenhouse gas emissions must decline by 50-85%by 2050 against year of 2000);
  • Long and medium term emission reduction targets for developed countries which will be backed up by effective national action plans;
  • Contributions from developing countries, initially in the form of national action plans focused on energy efficiency commitment, but with the ultimate aim of absolute emissions reductions;
  • Continuity in the legally binding framework underpinning the carbon market and provisions for an expanded and more liquid global carbon market;
  • A review, reform, and expansion of the Clean Development Mechanism;
  • Clear measures to reverse deforestation and value forests as carbon sinks;
  • A commitment to adaptation in order to prepare for, and respond to the physical impacts of climate change.  
    
    
• Footprint Management
  In 2010, we will be launching a comprehensive process to track, report and manage our environmental footprint performance. However, the projects currently running include: 
  
  • Paperless Processes
    To reduce cumbersome paperwork involved in various internal processes, we have invested in a ‘workstation' software that automates basic bank operations and processes.
  • Paper Usage
    We have instituted and communicated paper usage policy, which advices staff to avoid printing. However, if necessary, printing should be done on both sides of a paper. Where applicable a piece of papers can be re-used. This has helped reduce paper wastage across the Bank. So far, the Bank has been able to save:

  To produce the 2008 Corporate Social Report, we purchased 14,700 pounds of FSC-certified paper. By using this 100% post consumer recycled paper, Access Bank and its supplier:

  • Saved over 163 million BTUs of energy;
  • Eliminated over 29,913 lbs CO2 equiv;
  • Saved 72,591 gallons of water; and
  • Prevented over 12,372 pounds of solid waste.

B. Sustainable Finance

We manage the potential social and environmental risks associated with our lending and investment by following international standards of good practice, such as the Equator Principles which apply to project finance.

We are also in the process of developing polices for lending to socially and environmentally sensitive sectors and a tool kit to capture transaction impacts/risks, recommend outcomes for the risk management approaches, and define monitoring and reporting requirements.

Project Finance

• Sustainable Risk Management – ESRM Policy
  Our Environmental and Social Risk policy requires all lending decisions to include consideration of risks such as climate change, including the physical risks it brings from extreme weather and other changes. It also covers the impacts of clients’ activities on biodiversity, deforestation, air and water pollution. This holistic approach to sustainability risk means we are steering our lending towards higher-quality assets.
  Our environmental and social due diligence process requires all high-impact transactions to be reviewed by our Credit Risk Committee.
• Equator Principles
  Access Bank Plc has adopted an Environmental and Social Risk Management Policy which includes implementation of the Equator Principles for its transactions and which, through the International Finance Corporation’s environmental and social Performance Standards, addresses issues such as labor and working conditions, community health and safety, land acquisitions and resettlement, and the treatment of indigenous peoples.
  
• Equator Principles categories
  Project prospects in Access Bank Plc are now screened for inherent social and environment risks associated with the project and classified under the following based on the outcome of the risk assessment.
• Category A: High Risk
  Projects with potential significant adverse social or environmental impacts that are diverse, irreversible or unprecedented
• Category B: Medium Risk
  Projects with potential limited adverse social and environmental impacts that are few in number, generally site specific, largely reversible and readily addressed through mitigation measures
• Category C: Low Risk
  Projects with minimal or no social or environmental impacts

Prospective Projects are either embarked upon or declined based on the category it falls into.