Accra: Fidelity Bank's Deputy Managing Director, Operations and Support Functions, Mr. Atta Yeboah Gyan, announced that the bank is prioritizing the integration of climate adaptation into its core lending strategy. This move underscores the bank's role in mobilizing private capital for a climate-resilient future. Mr. Gyan shared this innovative approach during a panel discussion at the Africa Adaptation Acceleration Programme Partnership Forum held at the Alisa Hotel in Accra, under the theme 'Unlocking Growth through Climate Resilience and Private Sector Leadership.'
According to Ghana News Agency, Mr. Gyan emphasized that Fidelity Bank views climate adaptation as a strategic imperative, not only as a risk management issue but also as an opportunity for value creation. The bank's proactive stance includes identifying climate risk as a critical Environmental, Social, and Governance (ESG) material topic through a double materiality assessment, integrated into the bank's ESG processes.
The bank's commitment is further reinforced by a comprehensive Environmental and Social Management System (ESMS), which is meticulously aligned with the International Finance Corporation (IFC) Performance Standards and the Bank of Ghana's Sustainable Banking Principles. The bank also conducted its first portfolio-level climate scenario analysis across its Retail, Corporate, and Investment Banking segments to manage both physical and transition climate risks effectively.
Mr. Gyan revealed that this assessment, which included an internal analysis of potential climate-related disruptions to the bank's branches and ATMs, led to the creation of detailed climate risk heatmaps. These heatmaps significantly enhance the bank's understanding of exposure and reinforce its long-term resilience.
Furthermore, Fidelity Bank's sustainability initiatives, such as its three-year Climate Implementation Plan, are aligned with Ghana's Nationally Determined Contributions (NDCs), ensuring that the bank's financing supports national climate adaptation priorities. Beyond internal risk management, the bank actively works to unlock private finance for adaptation and resilience across Ghana.
Mr. Gyan highlighted the launch of an Electric Vehicle (EV) Financing product to promote green transport, along with asset finance products designed to help schools and hospitals integrate solar energy into their energy mix. These initiatives aim to reduce exposure to energy disruptions and support the broader climate adaptation strategy.
