In line with the vision of supporting strong Environmental, Social, and Governance (ESG) proposition in pursuance of its economic interests, Veritas Kapital Assurance Plc, has recently announced various concerted efforts towards driving home its vision of ensuring a green and sustainable business operation.
In a recent press release signed by the company’s Secretary, Mr. Saratu Umar Garba, and sent to the NSE, the firm disclosed that the company has embraced the environmental management concepts of reducing, reusing, and recycling.
The press statement read in part;
“Most internally generated communication within the office is handled electronically, without recourse to paper printing. Likewise, about 75 percent of our customer policy renewal notices are delivered electronically.”
In addition, the report further showed that Veritas Kapital Assurance Plc made concerted efforts to drive home sustainable business operations, through a strategy of reduction in greenhouse gas emission, including fitting energy-efficient lighting facilities at its various branches/facilities.
In terms of the achievement of its strategy, a part of the report read thus; “This has reduced our energy requirements for lighting by about 50%, and our new lighting facilities are estimated to last longer than traditional incandescent lighting systems. In addition, the old 500 KVA power plant at the Head Office has been replaced with a smaller, modern, and efficient 300 KVA electricity generator which reduces emissions.”
The firm revealed that due to its strict adherence to activities of relevant environmental laws, it has recorded a zero monetary fine for non-compliance to environmental laws and regulations for the year 2019.
Why this matters
There is an increasing global momentum towards establishing sustainable financial systems. This has led to a renewed call for prioritizing environmental, social, and governance (ESG) factors on financial sector development and growth, especially as it supports the SDG goals for 2030.
In lieu of this, the Lagos Financial Centre for Sustainability (LFC4S) was created in April 2019 to address the issue of green and sustainable capital. It joined the International Network of Financial Centers for Sustainability (FC4S Network) on May 30, 2019.