LAPO Microfinance Bank plays an active role in the actualization of the United Nations Sustainable Development Goals in Nigeria. This is a clear indication of our commitment to a better environment and a sustainable planet.
Below are our accomplishments regarding the promotion of SDGs:
|SDG 1 - No Poverty||Eradicate extreme poverty for all people everywhere||We contributed to poverty reduction by providing easily accessible credits for low-income people, sponsoring Skills Acquisition for 776 young people, and various CSR initiatives.|
|SDG 2 –Zero hunger||End hunger, achieve food security, improved nutrition, and promote sustainable agriculture. Zero hunger||We tackle hunger through strategic agricultural lending to farmers and other agro-allied businesses.|
|SDG 3 – Good health and well-being||Ensure healthy lives and promote well-being for all at all ages||We promote good health and well-being through our screening services/ free medical check-ups for clients which cover HIV, Malaria, blood sugar, blood pressure, and hepatitis. The screening is aimed to address the challenges of self-medication.|
|SDG 4 –Quality education||Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all||We continue to promote education through our scholarship & skills acquisition programs because we know that education has multiplier effects regarding poverty reduction, good health, and better economic growth. As of December 2021, 3,527 of our clients' children have benefited from our scholarship program and 776 from the skills acquisition program which cuts across primary, secondary, and tertiary levels.|
|SDG 5 - Gender equality||Achieve gender equality and empower all women and girls||We support gender equality through the equitable distribution of opportunities and our HR policies. As of December 2021, the percentage of women in our workforce is 57.8%, while the Management team is 44.4%.|
|SDG 6- Clean water and sanitation||Ensure availability and sustainable management||
We have water dispensers in all our offices to ensure free access to clean drinking water for staff, clients, and visitors.
We also ensure that Housing Loan clients make adequate provisions for good sanitation facilities in all the housing projects we fund.
|SDG 7- Affordable and clean energy||Ensure access to affordable, reliable, sustainable, and modern for all||
We use energy-saving bulbs and inverters in all our over 500 offices to reduce energy consumption.
We also encourage the use of renewable energy products through our clean green lending products (such as Solar lamps, Cooking gas, and Inverter home systems) to ensure a greener environment.
|SDG 8- Decent work and economic growth||Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all||
LAPO MfB continues to promote sustainable economic growth and decent work through regular and timely payment of salaries to our employees to encourage efficient service delivery to our clients and overall decent living for all employees.
Given the hardship created by the COVID-19 Pandemic, we provided a moratorium and interest reduction for all loan products. Also, there were payments of salaries throughout the COVID -19 Pandemic.
|SDG 9 -Industry, innovation, and infrastructure||Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation||
We remain committed to using our innovative and technologically driven banking products and services to improve the condition of Nigeria's social infrastructure.
Our accessible and affordable loan products support businesses across various industries especially those at the bottom of the pyramid.
|SDG 10 - Reduced inequalities||Reduce inequality within and among countries||At LAPO, we welcome people from diverse backgrounds and nationalities into our workforce.|
|SDG 11 - Sustainable cities and communities||Make cities and human settlements inclusive, safe, resilient, and sustainable||We continue to make our cities safe and habitable for everyone by sponsoring advocacy that allows for creating safe and sustainable cities. For instance, our WASH (Water, Access, Sanitation, and Hygiene) campaign focuses on avoiding open defecation and access to clean water.|
|SDG 12 - Responsible consumption and production||Ensure sustainable consumption and production patterns||
At LAPO MfB, we carried out several initiatives that helped in efficient resource usage which reduced our cost. For example, we monitored and controlled the quantity of paper used through our paperless banking initiative.
We also ensured that all appliances are switched off when not in use to conserve energy and reduce emissions from power generation.
|SDG 13 - Climate action||Take urgent action to combat climate change and its impacts||To minimize the effects of climate change on our client’s operations, we conduct due diligence for clients whose activities may negatively impact the environment to ensure mitigation and remediation of their impacts.|
|SDG 14 - Life below water||Conserve and sustainably use the oceans, seas, and marine resources for sustainable development||In our Agricultural lending, we do not fund farmers who use drift nets. This is because drift nets are not very selective of species; their use results in a large by-catch of non-target fish, sharks, turtles, seabirds, and marine mammals, which are usually jettisoned, dead, back to the ocean.|
|SDG 15 - Life on land||Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss||We encourage our Agricultural clients to desist from bush burning and the use of dangerous chemicals in their farming activities. We also encourage clients that deal in timber to plant more trees to avoid resource depletion.|
|SDG 16 - Peace, justice, and strong institutions||Promote peaceful and inclusive societies for sustainable development, provide access to justice for all, and build effective, accountable, and inclusive institutions at all levels||LAPO MfB continues to provide legal aid to promote the rights of women who are victims of gender-based violence and social injustices linked to traditional beliefs and practices. The project strategies include counseling, mediation, litigation, and referrals.|
|SDG 17 - Partnerships for the goals||Strengthen the means of implementation and revitalize the global partnership for sustainable development||
At LAPO MfB we recognize the need for partnership to achieve sustainable development. We formed partnerships with several organizations and bodies, namely:
The LAPO MfB Corporate Social Responsibility initiatives cover staff social support, scholarships, skills acquisition and empowerment schemes, water access creation, legal aid and health awareness, with free medical check-ups...
Sustainability & ESG Footprint
LAPO Microfinance Bank is leading the advocacy for the adoption of sustainable practices among operators in the micro-finance sub-sector in Nigeria. In 2019, as a member of the Global Alliance for Banking for Values, LAPO hosted the first-ever international sustainability conference in Nigeria, themed “Enhancing Sustainable Finance in the Microfinance Subsector”.
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