Minister calls for good management of natural resources…. As Stanchart launches environment week celebrations
The Minister of Environment, Science and Technology Ms. Sherry Ayitey has called on corporate and individuals to embrace environmental issues to consolidate Ghana's quest for a green revolution. She stated that the country loses up to about 6% of its Gross Domestic Product (GDP) to mismanagement of its natural resources.
She said in lieu of the current rate of degradation of the environment the country could face serious water problems in the near future, which will result in acute power supply in the country. “Very soon the Akosombo Dam will not be able to supply power to all homes in the country due to the effect of climate change,” she noted.
The Minister made the call at the launch of an Environment week of The Standard Chartered Bank on Monday, in Accra. The event, which started on Monday June 1, and ends on June 5, 2009, coincides with the World Environment and forms part of the bank's environmental efforts in line with its sustainability Agenda.
In his welcome address, E. Nii Okai, Corporate Affairs Manager of the Bank, said “the environment and climate change is part of Standard Chartered's overall approach to building a sustainable business. The World Bank has estimated that the economic cost of environmental degradation in developing countries has reached4-8% of GDP annually. Comparative with other sectors, the bank's environmental impact is relatively small. However, the bank is committed in minimizing this impact across all areas of its business. As the 'right partner' to all our stakeholders, we are committed to ensuring that our actions impact the environment positively.”
The Bank's Environment Coordinator, Nana Esiaba Hagan, in her address said “at Standard Chartered Bank, as well as finding ways to drive economic growth, we also want to help protect the environment and to have a positive impact on the societies where we live and work.
Under our sustainable Business agenda, we remain focused on enhancing the economic development of the countries in which we operate through environmentally-friendly initiatives such as the 'Greening Ghana Initiative', where we planted 2000 trees across Ghana, in partnership with the Forestry Commission and our paper recycling and energy saving projects.'
Commenting on the launch, Hemen Shah, Standard Chartered's CEO-Ghana, and Area General Manger, West Africa, said “Standard Chartered Bank takes a long-term view of the consequences of its actions and remains committed to building a sustainable business that continues to be high performing, viewing all of our actions in terms of their environmental impact, and economic and social contribution.
We continue to develop position statements for sectors and issues sensitive to sustainable development issues. These statements set out the social and environmental standards to which customers borrowing from the bank should operate. We can achieve more by bringing together all interested parties and making integrated plans that take the best that NGOs, governments, private sector and other interested parties can offer.
This is a responsibility that all corporate entities owe the communities they do business in, and Standard Chartered has a great opportunity to play a leading role because of our brand.” Hemen formally presented 2 copies of Standard Chartered's Position Statements to the Ministry of Environment, Science & Technology and the Environmental Protection Agency.
Launching the week, Ms Ayitey lauded the Bank's corporate initiative and urged other Corporate Organizations to join the National Force-for-good in protecting the Environment. The event was attended by over 70 corporate leaders, Management and staff of the Bank, as well as the media.
Throughout the week, staff of the Bank countrywide, will be engaging in several activities aimed at raising staff awareness on the impact of their activities on the environment, planting of trees and supporting the Clinton Global initiative.
As part of their employee volunteering efforts, staff of the Bank are currently promoting recycling of all paper& plastic waste, in partnership with key stakeholders in the environmental sector.
Standard Chartered aims to reduce the environmental impact of its operations and influence its customers and suppliers to do likewise. The Bank does not only focus on activities that enhance its business performance now and for the long-term, but also promotes the economic development of the countries where it operates, and has a positive impact on the environment and society, as well as contributes to good governance. Adjudged the most socially Responsible Bank in Ghana, Standard Chartered Bank stimulate economic and social development through the services it provides by creating wealth, through business practices that are environmentally responsible and socially-inclusive.