LILONGWE, March 21, 2024 –Standard Bank Plc has pledged to step up efforts in mitigating the negative effects of climate change by promoting the planting of trees by its customers and staff in line with a commitment to being a responsible corporate citizen.
To encourage customers and staff to plant trees, the bank on Thursday designated its branches as collection points for seedlings to give different individuals better access to tree seedlings. The initiative is part of the Bank’s activities to mark World Forestry Day or World Planting Day which falls on March 21.
Speaking from the Head Office, Chief Information Officer – William Nuka said Standard Bank is determined to transform Lilongwe and Malawi into a green and environmentally vibrant landscape.
“We are determined to make our city and surrounding areas greener and environmentally sustainable. We can make Lilongwe and Malawi green if we work together. At Standard Bank, we are geared to get our hands dirty today and in coming months for a better tomorrow,” he said.
The Bank has partnered with the Lilongwe City Council for the initiative, as a key player in ensuring that Lilongwe gets a green facelift. The City Council provided 1,000 tree seedlings of 7 varieties both indigenous and fruit trees to distribute on this day.
The Chief Information Officer said, “today we successfully distributed 1,000 seedlings to customers and staff in Lilongwe through our 6 branches and service centres. This is the beginning of a larger commitment we have towards supporting the Tree planting agenda for the nation.”
“Lilongwe suffers a tree loss rate of around 17.5% which is one of the highest deforestation rates in Malawi. We must take individual accountability towards planting trees and ensure every person and household has a tree. We are a partner for every Malawian that wants to see our current climate crisis eradicated,” said Nuka.
Mr. Nuka said the initiative is part of efforts by the Bank to contribute to the country attaining the UN Sustainable Development Goals on the environment. This also aligns with the Bank’s commitment as a signatory of the United Nations Principles for Responsible Banking (UN PRB).
“As such we are committed to ensuring that our operating strategy is consistent with and contributes to society’s needs and priorities, as expressed by the United Nations Sustainable Development Goals (UN SDGs), the Paris Agreement, the African Union’s Agenda 2063, and sustainable banking frameworks,” he said.
Malawi is in line to earn billions of dollars from buyers of carbon credits if its citizens planted more specific trees.
