CalBank is committed to supporting the achievement of the Sustainable Development Goals (SDGs) and has adopted a few of the goals including SDG 7 which focuses on affordable and clean energy. This agenda requires the Bank to operate sustainable banking principles that enjoins CalBank to be sensitive to environmental and social standards in its business. In pursuit of these, the Bank strives to interweave these tenets in the daily activities of its stakeholders. As the world celebrates World Recycling Day, the Bank showcases efforts taken in making CalBank’s world a better place.
CalBank’s “Greenovation” Project
In September 2019, CalBank introduced the “Greenovation” Challenge where all the Bank’s staff in departments and branches nationwide were tasked with conceptualizing innovative and “Green” oriented projects that would benefit the Bank and the communities it operates in.
Following six-weeks of exciting team-work and intense staff collaboration, 51 departments and branches submitted various projects for vetting and selection. Eleven projects were adjudged as top projects and CalBank’s Credit Department was selected as the ultimate winner.
The winning project replaced all single-use plastic cups and bottles used within the Bank’s premises with reusable bottles and biodegradable cups. This cultural change has reduced the amount of plastic waste generated and disposed of within the Banks’ environment. Plastic waste generated by CalBank before the change was approximately 234,000 single-use plastic cups and 50,700 plastic bottles annually.
The Bank was recently awarded with an International Finance Corporation (IFC) EDGE Certification after subjecting the new head-office building’s green credentials to an international, green-building assessment, verification and certification process. EDGE which is an acronym of Excellence in Design for Greater Efficiencies is an IFC innovation. The EDGE application helps to determine the most cost-effective options for designing green within a local climate context. EDGE is part of a holistic strategy to steer construction in rapidly urbanizing economies onto a more low-carbon path with a standard of 20 percent less energy use, 20 percent less water use, and 20 percent less embodied energy in materials.
CalBank’s Green Head Office Building
The Bank’s recently commissioned 15,200 m2 Head Office facility is the epitome of green sustainability which is now central to the Bank’s strategy. The eco-friendly, 12-storey tower features several green elements in its design. The building is powered by a 500-KW solar plant. Rainwater is harvested and re-used whilst well-water is used sustainably. LED lights and motions sensors are deployed throughout the building which is clad with a special heat-deflecting glass façade, all to reduce total energy requirements.
Green Financing at CalBank
CalBank has allocated funds totaling USD 32.5 million for financing green projects. Qualifying projects must either be classified as Renewable Energy (RE) or Energy Efficiency (EE) projects. The facility is targeted at households, SMEs and corporate clients. Projects financed must lead to a reduction in average energy consumption, a reduction in greenhouse gases or must lead to use of renewable energy within industries, SMEs, agribusinesses, commercial services and households in Ghana.
To ensure that the projects financed yield the desired “green” impact, the facility guarantees:
- competitive pricing compared to other products of the bank;
- access to funds dedicated towards green financing; and
- access to advisory services on green projects.