Consolidated Bank signs on to UN Global Compact

As part of efforts to strengthen its commitment to responsible business practices, Consolidated Bank Ghana LTD (CBG) has joined the United Nations Global Compact (UNGC), a voluntary global initiative that promotes responsible business practices and the advancement of the Sustainable Development Goals (SDGs).

By signing on to the world’s largest corporate sustainability initiative, CBG aligns itself with a global network of Businesses and Organisations committed to upholding10 universally accepted principles in the areas of human rights, labour, the environment, and anti-corruption.

These principles serve as a guidepost for organisations to integrate sustainability into their strategies and operations, fostering long-term value creation for both the company and society.

At the signing ceremony at Consolidated Bank Ghana LTD (CBG) in Accra, the Managing Director of CBG, Daniel Wilson Addo, said this agreement signifies the bank's unwavering dedication to advancing sustainable development goals and contributing to a more inclusive and prosperous future.

"It is with joy that I announce that CBG is the first state-owned commercial bank in Ghana to be a member of the UNGC.

This partnership has become necessary because, as a bank, we are cognisant of the impact of the decisions we make now and the years to come.

As a member of the UN Global Compact, CBG joins like-minded corporate organisations to accelerate the world's progress towards sustainability.

The Executive Director of the UN Global Compact Network Ghana, Tolu Kwaku Lacroix, welcomed Consolidated Bank Ghana LTD (CBG) to the initiative, stating, "CBG has shown great leadership in the areas of sustainability and ESG.

“Along with implementing the Ghana Sustainable Banking Principles, it is an institution that fosters good governance practices among its clients and supports capacity-building initiatives for its stakeholders.” he added.

He said by joining the UN Global Compact, CBG sent a strong message that this sustainability journey was important and that it desired to elevate its standing in Ghana and the world.

For his part, the CEO of the Ghana Association of Banks, John Awuah, commended CBG for promoting sustainability in banking.

"On behalf of the association, I commend you for choosing sustainability and humanity as the centre of all your business.

I hope this will propel more banking institutions to boldly join the community of business leaders and organisations that have decided to put profitability and humanity in the same sentence".