By Jibril Abdul Mumuni
Accra, June 4, GNA – Consolidated Bank Ghana (CBG) is set to plant 60,000 trees to support Ghana’s climate goals and National Determined Contributions (NDCs) under the Paris Agreement.
The Bank would be planting 60,000 trees across local communities, with a larger part of the community being Mpraeso, the capital of the Kwahu South District in the Eastern Region, to restore and preserve the natural landscape.
This was disclosed at a brief ceremony to launch the initiative at the Bank’s premises in Accra.
According to the United Nations (UN), the Paris Agreement and the accomplishment of its long-term objectives are largely dependent on nationally determined contributions- NDCs.
Each nation’s efforts to lower national emissions and prepare for the effects of climate change are embodied in its NDC.
Each country shall prepare, communicate, and maintain consecutive nationally determined contributions (NDCs) that it expects to achieve in accordance with Article 4, paragraph 2 of the Paris Agreement.
The parties will work to accomplish their contributions by pursuing domestic mitigating measures.
Mr. Daniel Addo, the Managing Director of the Bank, underscored the importance of environmental sustainability and the role financial institutions must play in preserving the earth for future generations.
“We at CBG recognise that we have a responsibility to steward the environment. That is why we are proud to launch this tree-planting initiative, which aligns directly with our commitment to supporting the UN’s Sustainable Development Goals and Ghana’s National Determined Contributions under the Paris Agreement,” he said.
The MD said trees played a critical role in addressing the challenges of the environment through the absorption of carbon dioxide, producing oxygen, preventing soil erosion, and providing habitat for countless species of plants and animals.
Mr Addo said the project reflected the Bank’s commitment to Sustainable Banking Principles and the UN Global Impact, thus incorporating sustainable practices into its practices.
Mr. Stephen Armah, the Head of Sustainability at the Bank of Ghana, said banking customers had become more discerning; therefore, they prioritised a bank’s commitment to environmental sustainability over returns on investments.
He said banks that prioritised environmental sustainability could enhance their public image and attract customers that valued environmental sustainability.
Mr. Hugh C. A. Brown, the Executive Director for the Forest Service Division, applauded CBG for the tree planting initiative, adding that the Bank had become a beacon for other financial institutions.
Mr. Brown said Ghana had achieved a total of 117 thousand hectares of restoration effort out of the two-million-hectare target, representing 55 percent of the 2030 target.
GNA