In a bold move to prioritize environmental sustainability, Polaris Bank, Nigeria’s leading digital financial institution, has reaffirmed its dedication to combatting plastic pollution and waste management.
The announcement comes ahead of the 2023 World Environment Day, a global event organized by the United Nations Environment Programme (UNEP) to raise awareness and encourage action for environmental protection. This year marks the event’s 50th anniversary.
Under the theme “Solutions to plastic pollution” and the hashtag #BeatPlasticPollution, the 2023 World Environment Day highlights the urgent need to address the pervasive issue of plastic waste.
Each year, millions of tons of plastic find their way into oceans, landfills, and waterways, causing harm to wildlife, polluting the environment, and contributing to climate change.
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Aligned with this year’s theme, Polaris Bank has proactively undertaken measures to tackle waste management and plastic pollution while supporting the United Nations’ Sustainable Development Goals (SDGs), Nigerian Sustainable Banking Principles (NSBPs), and the United Nations Environment Programme Finance Initiative (UNEP FI’s) Principles of Responsible Banking.
As part of its comprehensive environmental sustainability focus, Polaris Bank has made significant investments in waste management, plastic collection, renewable energy adoption, education, inclusivity, and carbon reduction.
By embracing sustainable practices and guidelines, the Bank ensures a responsible and environmentally conscious business strategy that meets the needs of individuals and aligns with societal goals.
One notable aspect of Polaris Bank’s environmental initiatives is its concerted effort to reduce carbon emissions and dependence on fossil fuels.
By utilizing solar energy to power security lights, select ATMs, and business locations, the Bank actively mitigates waste generation and reduces its carbon footprint. Additionally, the Bank has implemented automated systems and digital alternatives to minimize paper output.
To further shrink its carbon footprint, Polaris Bank has streamlined its vehicle fleet and transitioned most meetings and engagements to virtual platforms.
By prioritizing sustainable energy sources and expanding its network of eco-friendly ATMs, including prestigious off-site locations, the Bank ensures convenient and environmentally friendly access to banking services.
Moreover, Polaris Bank has taken its commitment to environmental sustainability beyond its own operations.
The Bank has forged partnerships with various organizations to support clean water and sanitation projects in local communities.
Through collaborations with entities such as the United Nations Association of Nigeria (UNAN), Polaris Bank has made significant strides in providing clean water and enhanced sanitation facilities in Lagos state.
In a bid to empower underprivileged girls and promote education, Polaris Bank has joined forces with the non-profit organization Evolve to launch the Girl Child Education and the Environment CSR program.
This initiative aims to keep girls in school, reduce early marriages, and mitigate population growth, thereby positively impacting the climate.
Through this program, Polaris Bank supports over 3,000 female students from 12 secondary schools nationwide, fostering individual growth and inspiring positive contributions to society.
As part of the commemoration of the 2023 World Environment Day, Polaris Bank has established dedicated plastic collection hubs across its branches in Lagos.
These hubs serve as convenient drop-off points for responsible disposal of plastic waste, facilitating its onward recycling.
By promoting active participation from individuals and communities, Polaris Bank empowers everyone to contribute to the reduction of plastic pollution.