Sterling Bank Gets Recognition for Commitment to Sustainable Environment


Temitope Omabegho

Sterling Bank Plc has received recognition from Wecyclers Nigeria Limited for its commitment to the sustainable implementation of the Nigerian Sustainable Banking Principles (NSBPs) through its Sterling Environmental Makeover (STEM) programme and the recycling of waste materials at its head office in Lagos.

Wecyclers Nigeria, Nigeria’s pioneer waste recycling firm, gave the endorsement at the ceremony organised to mark one year of Sterling Bank’s waste recycling initiative, which held at the Sterling Towers, the head office of the bank in Lagos.

Chief Executive Officer of Wecyclers, Mr. Wale Adebiyi, said out of a total of 6,024 kilogrammes of waste materials that were sorted, segregated and separated between November 2016 and November 2017, Sterling Bank earned 38,718 Redeemable Green Points.

Adebiyi said waste materials were separated into cans of 98.1 kilogrammes, PET bottles of 3.496 kilogrammes and sachets of 3.2 kilogrammes while other waste materials such as cards, cardboards, papers and random plastics cumulatively accounted for 2.426 kilogrammes.

He explained that although Wecyclers encountered some challenges earlier in its efforts at encouraging people and corporate organisations to recycle their waste, the company was encouraged by the commitment shown by Sterling Bank towards recycling of its waste materials.

He added that Sterling Bank did not only show interest in the recycling of waste materials but has also shown commitment in other areas of sustainable environment, especially through its recent engagement of other stakeholders to clean the Computer Village in Ikeja, Lagos as part of the STEM programme.
Adebiyi noted that the initiative helped to improve a hitherto challenged environment at the Computer Village while also creating awareness on the need for sustenance of a clean environment among residents of Lagos State and elsewhere in the country.

Chief Marketing Officer of Sterling Bank, Mr. Henry Bassey, said he was quite excited about the recognition given to the various initiatives that the bank has embarked on over the years to promote environmental sustainability practices.

Bassey said the bank has also inaugurated the ReCyclart competition to promote environmental sustainability. He disclosed that 16 finalists who emerged after the screening of entries have been invited to make a miniature version of their proposed works.

He said four grand prize winners will eventually emerge from each zone including Lagos, Ogun, Rivers and Abuja. Each of the winners would be rewarded with N1,000,000 and sponsored on a solo installation/exhibition in one public park or space. The event will end with the unveiling of a site-specific installation in a public place.
Chief Risk Officer of Sterling Bank, Mr. Imaji Ojonimi, said the bank hopes to extend the recycling project, currently limited to its head office, to other branches in the nearest future. Ojonimi added that Sterling Bank has also embarked on a mission to encourage selected customers to imbibe environmental sustainability principles in their operations.

In a keynote address, Assistant General Manager, Special Services, Lagos State Waste Management Authority (LAWMA), Mr. Jide Onayiga, commended Sterling Bank for recycling its waste materials by first of all sorting, aggregating and separating from the point of generation before the waste materials are converted into different resource materials like paper, cards, cardboard and aluminium.

He noted that a city like Lagos, which has a large population, is already contending with a high volume of waste materials generated as well as their attendant negative impact on the environment. He thanked Sterling Bank for helping to drive advocacy on separation of waste at the point of generation.