Stanbic Bank wins back-to-back NEMA Sustainability Award

June 29, 2025 in Companies by Editor

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Stanbic Bank Uganda has cemented its reputation as a national sustainability leader after winning the National Environment Management Authority (NEMA) Sustainability Award for the second consecutive year. The award, under the financial institutions category, recognises the bank’s innovative and impactful contributions to environmental protection and sustainable development.

This year’s ceremony, held at the Sheraton Kampala Hotel under the theme “Fostering Cleaner Production to Advance Sustainable Development in Uganda,” brought together public and private sector stakeholders championing green transformation.

Accepting the award on behalf of Stanbic Bank were Catherine Adengo, Head of Sustainability, and Diana Ondoga, Head of Corporate Social Investment (CSI). The win affirms Stanbic’s leadership in integrating Environmental, Social, and Governance (ESG) standards across its operations.

“Environmental sustainability is not just an add-on,” Adengo noted. “It is central to our sustainability agenda and deeply rooted in our purpose: ‘Uganda is our home, we drive her growth’.” She highlighted Stanbic’s pioneering efforts in green finance, calling it a long-term strategy to support Uganda’s transition to a low-carbon economy.

In 2024 alone, the bank disbursed over UGX 62 billion in loans to green startups and enterprises involved in clean energy, sustainable agriculture, and environmentally friendly technologies—aligning with national climate objectives and the government’s broader development goals.

Ondoga outlined the bank’s progress in operational sustainability, pointing to a successful plastic waste recycling partnership with Coca-Cola Beverages Uganda through Plastics Recycling Industries in Nakawa. “To date, we have recycled 97.86% of plastic waste generated by our operations—totaling over 9,200 kilograms,” she said, describing the programme as a model for public-private collaboration in environmental innovation.

Stanbic has also undertaken digital transformation initiatives to reduce paper consumption. Customers are increasingly encouraged to use digital banking platforms such as FlexiPay, USSD, and the Stanbic app, thereby reducing the need for in-branch transactions. The limited paper the bank uses is recycled through a partnership with Africa Paper Limited, converting waste into practical items like napkins and shopping bags.

NEMA Executive Director Dr. Barirega Akankwasa lauded all participants for their commitment to environmental compliance. He also announced the launch of a Compliance Assistance Unit, offering developers free technical support to meet environmental standards.

Dr. Barirega emphasized the growing importance of ESG adherence, noting that “responsible investors increasingly screen opportunities based on environmental and social governance benchmarks. Meeting these standards enhances not just compliance but overall investment attractiveness.”

The National Environment Sustainability Awards are held annually under Uganda’s National Environment Act (Cap 181) to reward excellence in sustainability across sectors—from corporations and NGOs to media, communities, and individuals. NEMA believes that recognising and showcasing exemplary practices creates momentum for widespread adoption of environmentally responsible strategies nationwide.

With back-to-back wins, Stanbic Bank sets the pace for Uganda’s financial sector in environmental stewardship, proving that integrating sustainability into core business operations is not just possible—it’s essential for long-term resilience and inclusive growth.