Rabiu M. Hamza
The Bank of Industry has announced the launch of its Sustainable Finance Framework to drive inclusive and climate-resilient growth in Nigeria.…
In a statement on Saturday, BOI described the framework as a strategic blueprint that establishes a strong foundation for aligning the bank’s financinng BOI activities with global sustainability and leading environmental, social, and governance practices.
According to KPMG, sustainable finance is an overarching term referring to the investment process accounting for and promoting environmental and social factors. Sustainable finance comes predominantly in the form of financial instruments such as debt and equity.
The global sustainable finance market is growing rapidly, and sustainable assets under management are projected to surpass $50 tn by 2025, constituting one-third of projected total assets under management globally.
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In the statement signed by the Divisional Head of Public Relations, BOI, Theodora Amechi, the framework is designed to empower Nigerian enterprises and aligns with BOI’s 2025–2027 corporate strategy, which prioritises long-term development impact, environmental stewardship, social inclusion, and the creation of shared value, while addressing both national and global challenges.
The Managing Director/Chief Executive Officer, BOI, Dr Olasupo Olusi. Said, “This framework marks a significant milestone in our journey to become a fully sustainable development finance institution. It reflects our strategic intent to finance enterprises that deliver both economic value and measurable social and environmental benefits.
“The Framework is aligned with key global and national sustainability principles, including the UN Sustainable Development Goals, the Paris Agreement, the Principles for Responsible Banking, and the Nigerian Sustainable Banking Principles. It also integrates the BOI’s internal ESG frameworks, including its ESG and Corporate Social Responsibility policies, which guide the Bank’s sustainability management practices.”
At the heart of the framework is BOI’s adoption of a triple-bottom-line model focused on People, Planet and Profit, ensuring its investments generate financial returns alongside inclusive and environmental outcomes.
The bank said the framework will enable it to programmatically raise Green, Social and Sustainability Bonds and Loans, in line with the latest applicable International Capital Market Association, Loan Market Association and Loan Syndications and Trading Association principles and guidelines.
BOI added that the framework has been independently evaluated by S&P Global Ratings, which issued a second-party opinion affirming its alignment with international sustainable finance principles. This validation enhances BOI’s credibility among institutional investors seeking impactful ESG-aligned opportunities in emerging markets.
Through this framework, BOI aims to support businesses committed to sustainable practices, unlock access to blended and concessional capital, and advance national priorities such as climate resilience, job creation, gender inclusion, and export diversification.
It will further enable the bank to scale its impact across priority sectors, including renewable energy, clean transportation, agro-processing, healthcare, education, and digital infrastructure.
The Bank of Industry is Nigeria’s oldest and largest development finance institution, which is committed to facilitating and transforming Nigeria’s industrial sector. BOI operates across 33 states in Nigeria, providing financial and advisory support for the establishment of large, medium and small projects and enterprises as well as the expansion, diversification, rehabilitation, and modernisation of existing enterprises.
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