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Bank of Africa Unveils Revamped Sustainability Charter: A Five-Pillar Roadmap for Responsible Growth
Bank of Africa has announced a major update to its sustainability strategy, unveiling a revamped charter that aligns with the group's 2030 vision for responsible growth. This new strategy outlines five key pillars that will guide the bank's approach to sustainable practices in the coming years.
Under the leadership of President Othman Benjelloun, Bank of Africa published its first CSR Charter in March 2018, reflecting a commitment to universal social, environmental, and business ethics principles. However, recognizing the evolving landscape of sustainability, the bank has taken a proactive step to refine its approach.
Here are the five pillars of the updated charter:
1. Proactive Integration of Sustainability in Group Governance and Performance Management: Bank of Africa will integrate sustainability principles into its governance structure and performance evaluation processes, ensuring that responsible practices are central to its operations.
2. Innovative Offerings and Services to Promote Climate Resilience and Environmental Transition: The bank will focus on creating innovative financial products and services that support clients' efforts toward climate change adaptation and environmental sustainability.
3. Valuing Human Capital and Collaborative Value Creation with Group Talents: Bank of Africa understands the importance of its employees and seeks to create an environment that fosters talent, encourages collaboration, and generates shared value for all stakeholders.
4. Emphasis on Client Trust, Satisfaction, and Market Share Growth:The bank aims to enhance client trust and satisfaction, which, in turn, will strengthen its market position and reputation as a responsible and reliable financial partner.
5. Preserving Leadership as an Actor in Human and Territorial Development: Bank of Africa is committed to promoting human and regional development by leveraging its financial expertise to drive positive socioeconomic impacts across its areas of operation.
The new sustainability strategy actively incorporates Environmental, Social, and Governance (ESG) factors into the bank's professional activities and interactions with stakeholders. This approach will also help Bank of Africa's partners better understand the link between service quality, societal roles, business results, and the bank's sustainability strategy.
With this revamped charter, Bank of Africa aims to lead the financial sector by adopting responsible practices and fostering an environment that promotes sustainable growth, environmental stewardship, and shared prosperity.