The Head of ESG and Sustainability at Stanbic Bank Ghana, Francis Ayisi, has encouraged corporate organizations to make conscious efforts in reducing carbon emissions in the country. This, he said, can benefit the organizations both financially and environmentally. Mr. Ayisi said this at the November 2023 Board/CEO/CAE Governance Forum organized by the Institute of Internal Auditors Ghana.
Speaking on Stakeholders’ Perspectives on the Threats and Opportunities for African Organizations, Francis Ayisi noted that, “Africa contributes less than 10 percent of greenhouse gasses and that in itself presents a huge opportunity for carbon treatment. African businesses can adopt strategies that reduce those emissions and trade those emissions with the western countries. Stanbic Bank, for example, has taken an initiative to plant trees to absorb carbon. At the end of the year, the Forestry Commission will calculate how much carbon has been absorbed by the trees the bank has planted.”
He added that “Our strategy is that we are going to calculate the value of how much carbon has been absorbed through our interventions, trade it, and put the money back into society as corporate social investment. Corporate organizations need to evaluate their operations and see where they can offset carbon. If you plant an acre of trees, for instance, you save 100 miles of carbon emissions from your car. There are many things we can do as organizations and we need to make conscious effort through organizational efficiency exercises to reduce carbon emissions.”
In the global pursuit of sustainable and responsible business practices, the imperative to address climate change has taken center stage. Francis Ayisi’s advocacy for deliberate actions to reduce carbon emissions reiterates a critical call to action. The Institute of Internal Auditors Ghana’s November 2023 Board/CEO/CE Governance Forum brought together key stakeholders in the ESG and sustainability space to deliberate on the theme ‘Navigating the Waves of Change: The Role of Governance’.