Our Sustainability Statement
We are an ethical organization committed to conducting business in an innovative and sustainable manner, delivering value to all stakeholders
Our Journey so far
As part of our strategic plan to grow a competitive brand and profitable business, we commenced a journey on integration of responsible and sustainable business practices into the core of our activities and decision making processes.
The dynamic and complex nature of the Merchant Banking and Asset Management Business of FBNHoldings has given rise to a conspicuous need to review our business processes and ensure that we are socially responsible in our dealings and activities as an organization. Our business activities and operations have grown exponentially as a result of this, also, regulatory implications of non-compliance or alignment to the global and local sustainability standards and expectations within the financial industry is also a major consideration.
The growth of Corporate Responsibility and Sustainability (CR&S) can be traced in part to the expectation that as an organization, we can profit by serving the greater social good as integration of sustainability into an organization builds pride and cohesion among our employees, which results in better operational performance and in turn, drives revenue.
In our ongoing process of driving a sustainable brand, we understand the need to ensure that our business activities are executed in a socially responsible manner which meets and exceeds ethical standards by integrating social and environmental values within core business operations and processes. This includes initiation and implementation of impactful CR&S intervention projects, adoption and integration of best corporate governance practices in our organization to achieve business longevity, profitability and global competitiveness.
Our strategic objective is to implement a CR&S approach that aligns with the group strategy and overall vision and goals of the company. We aim to strengthen our contribution towards the three core areas of education, economic empowerment and economic development. This is further broken down into three focus areas namely:
- Education & Skills Development
- Sustainable Finance/Investment
- Environmental Sustainability
Our Sustainability Priorities include:
- As a part of the FBN Holdings Group, we aim to become one of the leaders recognized for impactful CR&S initiatives and execution in Nigeria.
- To develop and support relevant initiatives at various stakeholder levels through partnerships and existing platforms within the key areas. Our stakeholders include investors, employees, government of different tiers and regulators, strategic partners, media practitioners and owners, board and management and most importantly the communities in which we operate.
- To actively encourage employee engagement, charitable giving and environmental sustainability, as well as encourage employee volunteerism in line with business objectives and focus.
- To leverage on activities of the Group to ensure cohesion in implementation, drive efficiencies and drive cost reduction to deliver maximum shareholder value.
- Bloomberg Financial Resource Centre at The Lagos Business School (LBS)
- LBS Industry Days & Internship Schemes
- Financial Literacy Activities – ‘Ask The Expert’ forum, Participation in The Global Money Week & World Savings Day, the Legacy Series guide on Estate Planning
- NSE Quarterly Investor Clinics
- WIMBIZ Annual Conference
- Savings and Investment: existing mutual funds from as low as NGN5,000 (Five thousand naira)
- Industry support initiatives which include; sponsorship of the Business Day Oil & Gas roundtable, Power Conference, Infrastructure Roundtable, and Capital Market Conference annual Capital Market Committee Retreat, PPP Stakeholders forum with the ICRC, Euromoney Capital Market Conference, The Nigerian Chamber of Commerce Annual Independence Anniversary and Lecture.
Impacting Today for a Greater Tomorrow
Education and Skills Development
Our objective is to continuously contribute to the development of skills within our host community to improve their educational and entrepreneurial prospects; as well as to reduce the gaps in inequality. To ensure this is achieved, we encourage attendance at the most competitive and relevant trainings and participation in internship opportunities within the industry for talent development and contribution towards the economic development of Nigeria.
Education as a Catalyst for Growth
The understanding of education as a fundamental human right which serves public and social good, as well as the realization of its cardinal role in the development of any economy is one of the defining challenges of the early twenty-first century. Prospects for reducing poverty, narrowing extreme inequalities and improving public health are heavily influenced by what happens in education. It is also a condition for strengthening economic growth and efficiency.
In an increasingly interconnected and knowledge-based world, the distribution of opportunities for education will inevitably play an important role in future patterns of international wealth distribution. Informed private sector participation will also have strong bearing on the well-being of future generations.
As a member FBN Holdings Plc, of one of the leading private sector employer groups in Nigeria, FBNQuest has identified education as a catalyst for growth. We understand we cannot school the world, but we can start with our community.
The #RACETOSEPTEMBER initiative
This initiative was created to serve our aim to deliver long-term impact to secondary school students within our host community by supporting in and out of classroom education through employee volunteering.
The #RACETOSEPTEMBER initiative was developed to facilitate the education children living in underdeveloped areas of our community (Obalende, Ikoyi, and Lagos Island and this features the following;
- Capacity building: training of staff volunteers on engaging young students within the age bracket. The training will educate the volunteers on the best methods of communicating with the students.
- Provision of educational assistance: At the end of the programme, through our employee giving and support programs, selected students’ examination fees and levies will be sponsored.
Our objective is to deliver new initiatives where we can demonstrate fresh thinking and innovation at all times through unique products and services. We strive to deepen financial inclusion and responsible investment through our provision of asset management, securities, and trust services.
The Bloomberg Financial Resource Centre at Lagos Business School (LBS)
Bloomberg terminals are one of the main product offerings from Bloomberg L.P. and it is one of the most heavily used and highly regarded professional investment systems to be created for the financial marketplace.
In March 2014, the group partnered with the LBS on installation of Bloomberg terminals in the library to serve as key tools for meeting the financial information needs of the user community, revolutionize teaching and research in the area of time bound information. The aim of the initiative is to help thousands of students across relevant financial disciplines to gain access and exposure to the tool, which is one of the financial sector’s most widely used resources.
In 2016, we saw the need to expand our impact by increasing the number of terminals and creating a financial resource centre, the Bloomberg Room. This served to widen exposure to this key financial tool within the institution by facilitating quick access to analysis of real-time financial market data, as well as easy extraction of economic data on their preferred countries or sectors, has served as a valuable resource tool for students and faculty users.
Our objective is to scale up our investment portfolio through eco-friendly and sustainable enterprise. We will also reduce operational costs and environmental foot-printing through resource efficiency and a culture of conservation.
The “PICK A LITTER” exercise is an environmental friendly project embarked upon by Etiosa Youth Development Initiative (EYDI) in partnership with FBNQuest group.
This initiative was developed to educate, sensitize and engage our host community on the importance of a Clean and Green environment, championed by the spirit of volunteerism. The initiative was implemented to assist the government with its environmental sanitation exercise.
We commenced with a health awareness program that aims at providing implemental assistance to people who come out to clean their environment but fail to have the proper tools to enable them do so.
Although the objective of the “PICK A LITTER” project is to generate awareness, aspire to create a better environment and give back to the community which in itself is rewarding. The pilot phase of the programme which was implemented in 2016 in partnership with the Etiosa Youth Development Initiative (EYDI), was designed to educate and sensitize the residents of Ikoyi/Obalende through a series of workshops and seminars on the need for a clean and habitable environment.
In line with our three key focus areas we continue to review our short-term and long-term agenda to ensure we stay ahead of the rapidly changing landscape. Whilst we work towards maximizing competitiveness and ROI, we will always put into consideration the Social, Economic and Environmental impacts of our activities as these constitute the triple bottom-line upon which our longevity and profitability will stand.