FIRSTBANK SCREENS OVER ₦10TN TRANSACTIONS FOR ESG RISKS

FirstBank Nigeria screened 505 corporate transactions worth more than ₦10tn for environmental, social and governance risks in 2025, more than double the number assessed the previous year.

The bank disclosed this at the inaugural Annual Sustainability Conference of the Sustainability Professionals Institute of Nigeria in Lagos, where it highlighted the growing role of sustainability in financial decision-making.

FirstBank said the 505 transactions compared with 237 transactions valued at over ₦3tn in 2024, reflecting a stronger integration of ESG considerations into its credit and risk management processes.

The bank’s Executive Director, Risk Management, Adebiyi Olagbami, said environmental and social risks were increasingly becoming credit risks because issues such as climate exposure, environmental liabilities and social concerns could affect borrowers’ ability to repay loans.

FirstBank has also introduced a Green Product Credit Policy, aligning its lending standards with its Climate Policy, Environmental and Social Management System, IFC Performance Standards, and IFRS S1 and S2.

The lender said it is expanding climate financing through alternative energy finance, solar financing for SMEs and green-energy vehicle financing.

FirstBank said sustainability should go beyond compliance and become part of how businesses manage risk, create opportunities and build long-term resilience.