Sterling Bank Increases Investment in Waste Management

By Sodeinde Temidayo David

Sterling Bank Plc said it has invested heavily in more than 70 per cent of the 36 states of the country by partnering with them to address plastic pollution and ensure excellent waste management in a bid to promote waste recycling.

The Chief Executive Officer (CEO) of Sterling Bank, Mr Abubakar Suleiman, said the company sees investment in waste management as an important way to promote sustainability.

Speaking at an art exhibition held recently to showcase 17 canvases on sustainable climate adaptation solutions towards climate resilience, green economic recovery and low carbon Nigeria, Mr Suleiman noted that the bank was currently on a beach adoption project across beaches in the country as part of its commitment to a safer environment.

He revealed that Sterling Bank adopted Lafia Beach, Alpha Beach and Eleko Beach in Lagos this year and intends to do more, which will help in sustaining climate change issues.

According to the CEO, this movement is to empower the youths and women in those communities to pick up plastic waste and recycle them for money, thereby creating a circular economy.

Also speaking, United Kingdom (UK) Deputy High Commissioner to Nigeria, Mr Ben Llewellyn-Jones expressed his delight to be a part of the effort to strengthen the discourse on tackling climate change in Nigeria.

He noted that climate change is a common concern for all countries of the world. According to him, climate change is an urgent and potentially irreversible threat.

Concurring to this, climate change advocate, Ms Foluke Michael, noted that the Nigerian climate was becoming imperative and that by the 2030s, there will be a significant reduction in the rainforest until it can no longer produce enough moisture. Species will be lost and the speed of global warming will increase.

It was also projected that by the 2040s, greenhouse gas will be many times more potent than carbon dioxide, thus accelerating the rate of climate change dramatically and by the 2050s, as the ocean becomes more acidic due to heat, coral reefs will die around the world and fish populations will crash significantly.