Access Bank Drives Africa’s Shift To Low-Carbon Economy

As the world races toward sustainability, Africa’s path to a low-carbon economy is laden with unique challenges, particularly regarding waste management. In response to this, Access Bank is at the forefront of supporting Africa’s transition, contributing significantly through various environmental and social impact initiatives.

In Africa, the traditional linear economy model—”take, make, dispose”—has proven unsustainable, especially with projections showing waste generation could reach 516 million tonnes by 2050. Transitioning to a circular economy, which emphasizes recycling and resource efficiency, has the potential to generate $1.8 trillion for Africa by 2030, creating jobs and cutting greenhouse gas emissions by 25%. However, a lack of infrastructure, awareness, and regulatory support has slowed progress.

Access Bank has risen to the challenge, recognizing that financial institutions play a crucial role in the continent’s green transformation. The bank actively promotes environmental responsibility by financing circular businesses and helping create frameworks for waste management in Nigeria. As a member of the Nigerian Circular Economy Working Group (NCEWG), Access Bank is crafting policies to foster circular business models and support sustainable practices.

Notably, Access Bank has championed waste management through programs like the Leadership Programme for Sustainable Waste Management (LPSWM). This initiative, in partnership with the ACT Foundation and Lagos Business School, equips individuals in Nigeria’s waste sector with skills to drive sustainability while bolstering the operational viability of circular businesses.

Furthering its impact, Access Bank also launched the Zero Carbon Africa Impact Program in partnership with HACEY, which aims to empower over 700 young leaders across six countries with knowledge on climate action. The program seeks to instill climate leadership skills, helping communities across Africa achieve net-zero targets.

Through these programs, Access Bank is not only financing change but shaping Africa’s environmental future, solidifying its leadership role in the global low-carbon transition. For more stories on impactful initiatives, visit fasnewsng.com.

By Augustine Idoje