Access Bank launches sustainable finance accelerator program to boost Eco-friendly initiatives

As part of its ongoing efforts to champion initiatives aimed at advancing access to credit for sustainable projects across Nigeria, Access Bank Plc has officially launched its Sustainable Finance Accelerator Program.

The program is designed to support corporates, MSMEs, and nano businesses focused on climate mitigation, adaptation, health care, and other social projects.

The Sustainable Finance Accelerator Program is structured to nurture innovative ideas within the sustainable development sector by offering comprehensive training, mentorship, and essential resources. The program’s goal is to transform participants’ ideas into viable, impactful businesses that contribute to a more sustainable and resilient future.

Speaking at the event, Chizoma Okoli, Deputy Managing Director of Access Bank Plc, expanded on the purpose of the initiative, saying: “In the face of mounting climate risks, social inequalities, and resource scarcity, the call for sustainable finance is louder than ever. The financial sector has a pivotal role to play in driving the transition to a low-carbon, inclusive economy. At Access Bank, our mission has evolved beyond conventional banking to embrace sustainability as a core business principle. We have recognised that sustainable finance is not a niche or a temporary trend; it is the future of finance itself.”

Gregory Jobome, Executive Director, Risk Management at Access Bank Plc, highlighted the collaborative nature of the program, emphasising the bank’s dedication to providing participants with resources, including capacity building, funding, and professional networking opportunities.

“This journey is not just about Access Bank; it’s about all of us coming together, co-creating solutions, and scaling up sustainable initiatives across Nigeria and Africa,” Jobome said.

The Nigerian government has over the years, demonstrated increasing commitment to sustainable finance and climate action, recognising the need to address the disproportionate impact of climate change on Africa despite the continent’s minimal contribution to global emissions. With initiatives like the inauguration of the Carbon Market Activation Committee and Sustainable Energy for All, Nigeria is taking significant steps to reduce emissions while tackling the dual crises of energy poverty and climate change.

Temitope Akinyemi, Special Advisor to the Minister of Finance & Coordinating Minister of the Economy on Climate Finance, who spoke at the event, said: “While Africa contributes less than 3% to global climate change, the effects are felt acutely across the continent, especially in Nigeria. Our low level of industrialisation has kept our emissions relatively low, but we still face immense challenges, including deforestation, energy access, and the devastating impacts of flooding.

“It is imperative that we continue to mobilise the necessary resources, estimated at $17 billion, to meet our climate goals and ensure that sustainable development is at the heart of our national agenda,” Akinyemi added.