Naira Account
Acct No: 0125614068
Account Name: Lani Foundation
Bank: GTB
USD Account
Acct No: 0125617928
Account Name: Lani Foundation
Bank: GTB
GBP Account
Acct No: 0125617959
Account Name: Lani Foundation
Bank: GTB
Sustainability
Transforming lives and enterprises responsibly
We are committed to ensuring sustainability across our business operations to drive strategic, social, economic, and environmental impact in the communities we serve.
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution (DFI). It eBy the very structure of our business and the objectives of our corporate strategy, we are positioned to be a force for global sustainable development driving economic impact by leveraging sustainable finance to alleviate poverty, reduce inequalities, and drive industry, innovation and infrastructural development, whilst promoting decent work and economic growth.
The implementation of sustainability in our corporate strategy helps us create long-term value through an integrated approach to social, environmental and economic development across our business operations and practices. This serves as the key guiding principle for the Bank’s strategic efforts toward sustainable development. It is our mission to transform lives and enterprises responsibly through sustained interventions in economic development, environmental protection, social impact, ethics, governance and partnerships; improving the world for generations to come. xists to facilitate the transformation of Nigeria’s industrial sector by providing financial and advisory support for the establishment of large, medium and small projects/ enterprises, and the expansion, diversification, rehabilitation and modernisation of existing enterprises.
In the execution of our sustainability strategy, we operate following leading frameworks to ensure continuous high performance, including the Nigerian Sustainable Banking Principles (NSBPs), the Paris Climate Agreement, the UN Sustainable Development Goals (SDGs), United Nations Global Compact, United Nations Environment Programme Finance Initiative Principles for Responsible Banking (UNEPFIPRBs), World Economic Forum amongst others. In doing so, we focus our strategy on the SDGs that are most relevant to our Bank’s operating context. This may sometimes require us to focus on specific targets and indicators underlying those SDGs. These frameworks are clearly outlined within the sustainability-focused policies of the Bank including our Environmental, Social and Governance (ESG) Policy which guides the Bank’s activities around managing the ESG risks within our institution and the businesses we finance; and the Corporate Social Responsibility (CSR) Policy which directs our efforts towards giving back to the communities we serve through interventions that improve our social, economic and environmental footprint.
Environmental and Social Risk Management
Utilizing Appropriate and International Standards of ESG Performance
As a responsible Development Finance Institution transforming the Nigerian industrial sector through sustainable finance, the Bank of Industry is committed to embedding sustainability in its business practices to drive strategic social, economic and environmental impact in the communities we serve and the world at large.
By the very structure of our business and the objectives of our corporate strategy, we are positioned to be a force for global sustainable development driving economic impact by leveraging sustainable finance to alleviate poverty, reduce inequalities, and drive industry, innovation and infrastructural development, whilst promoting decent work and economic growth. The implementation of sustainability in our corporate strategy helps us create long-term value through an integrated approach to social, environmental and economic development across our business operations and practices. This serves as the key guiding principle for the Bank’s strategic efforts toward sustainable development. It is our mission to transform lives and enterprises responsibly through sustained interventions in economic development, environmental protection, social impact, ethics, governance and partnerships; improving the world for generations to come.
In the execution of our sustainability strategy, we operate following leading frameworks to ensure continuous high performance, including the Nigerian Sustainable Banking Principles (NSBPs), the Paris Climate Agreement, the UN Sustainable Development Goals (SDGs), United Nations Global Compact, United Nations Environment Programme Finance Initiative Principles for Responsible Banking (UNEPFIPRBs), World Economic Forum amongst others. In doing so, we focus our strategy on the SDGs that are most relevant to our Bank’s operating context. This may sometimes require us to focus on specific targets and indicators underlying those SDGs. These frameworks are clearly outlined within the sustainability-focused policies of the Bank including our Environmental, Social and Governance (ESG) Policy which guides the Bank’s activities around managing the ESG risks within our institution and the businesses we finance; and the Corporate Social Responsibility (CSR) Policy which directs our efforts towards giving back to the communities we serve through interventions that improve our social, economic and environmental footprint
Market
Focus
Factors that determine if a business is suitable for BOI to partner with:
- Small, medium and large enterprises, excluding cottage industries.
- New or existing companies, seeking expansion, modernisation or diversification.
- Committed and credit-worthy promoters with a project contribution of at least 25%, excluding land.
- Small, medium and large enterprises, excluding cottage industries.
- New or existing companies, seeking expansion, modernisation or diversification.
- Committed and credit-worthy promoters with a project contribution of at least 25%, excluding land.
Partnerships for Change
Commitment through Partnerships for a Better World
Collaborative partnerships create opportunities for the Bank to further drive the sustainable development of the local and global economy and society. In the execution of our strategy, we will collaborate in local, international and sector-wide efforts to drive improved standards and progress on Sustainable Development:
The United Nations Global Compact is a voluntary initiative based on CEO commitment aimed at mobilizing a global movement of sustainable companies and stakeholders to create the better world we seek. The UN Global Compact supports companies to do business responsibly by aligning their strategies and operations with the 10 Principles on human rights, labour, environment and anti-corruption; and by taking strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation. The Bank of Industry has been an active member of the UN Global Compact, joining the international community to dedicate resources towards global efforts aimed at bridging the gap for the achievement of the SDGs. We also participate in the activities of the local network in Nigeria, collaborating to address social, environmental and economic development issues locally through strategic interventions and programmes.
The World Economic Forum (WEF) The World Economic Forum (WEF) is the International Organization for Public-Private Cooperation bringing together stakeholders from all sectors of society to shape the future for the better and generate great impact through purpose-driven communities and impact-driven platforms. Reinforced by a track record of success over five decades, WEF is the trusted platform for high-level, multi-stakeholder interaction on sustainable development. In 2021, the Bank became a member of the World Economic Forum alongside over 750 global business leaders. This partnership is in line with the Bank’s vision to be Africa’s leading DFI operating under global best practices; and will strengthen our efforts to increase sustainability impact. Through this partnership, the Bank has made significant progress in joining the global community to collaborate for sustainable impact:
Becoming a member of the World Economic Forum’s Sustainable Development Investment Partnership (SDIP): Becoming a member of the World Economic Forum’s Sustainable Development Investment Partnership (SDIP): A joint initiative of the World Economic Forum and the Organisation for Economic Co-operation and Development (OECD), SDIP is a global independent platform of 42 public, private and philanthropic institutions with the shared ambition to scale finance for the SDGs and overcome the barriers hindering private investments in emerging and developing countries. BOI joined this partnership to contribute to the strategic discussions and shape policies and interventions that would foster the finance of
The Sustainability Standards & Certification Initiative (SSCI) The Sustainability Standards & Certification Initiative (SSCI) is an all-encompassing framework of the European Organization of Sustainable Development that delivers a holistic, robust, evolving, and locally-sensitive set of standards to make value-driven financial institutions more resilient and profitable. It is a framework for holistic integration of sustainability to drive innovation in the organizational culture, enabling institutions to create new income streams and thrive for the long term in an ever more volatile world.
In July 2021, the Bank of Industry was accepted into the Sustainability Standards and Certification Initiatives of the European Organization for Sustainable. This highlights our continued commitment to driving sustainable development through strategic social, environmental and economic investments and interventions across Nigeria.