Stanbic IBTC Holdings has set a new benchmark for sustainable finance in Nigeria and across Africa by unveiling AI-powered climate risk assessment tools designed by Nigerian fintech companies.
This was unveiled at its Sustainable Finance Summit 2.0, themed “Financing Resilience: Digital Innovation and AI for Climate Smart Communities”, held in partnership with the Lagos Business School Sustainability Centre (LBSSC) in Lagos.
Kunle Adedeji, Acting Chief Executive, Stanbic IBTC Holdings, expressed, “The overwhelming success of this summit validates our vision of positioning Nigeria at the forefront of sustainable finance innovation. We have witnessed remarkable collaboration between financial institutions, technology innovators, and policymakers, resulting in concrete commitments and actionable solutions.
“This event has not only strengthened our position as industry leaders but has also demonstrated the transformative power of bringing together diverse stakeholders around our shared commitment to climate-smart financial solutions.”
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Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, also reiterated that the summit delivered concrete value to all participant categories.
The summit’s impact cut across multiple sectors. Financial professionals were exposed to AI-driven environmental, social, and governance (ESG) tools that can reshape investment decisions. Technology innovators connected with investors, with several startups already securing follow-up meetings for funding. Regulators engaged in policy dialogues and gained new insights from global best practices on sustainable finance regulation.
In her presentation titled “The Power of Digitisation in Stanbic IBTC’s Climate Risk Management and Opportunity Discovery,” Bunmi Dayo-Olagunju, Deputy Chief Executive, Stanbic IBTC Bank, highlighted the significance of digitisation.
She emphasised that data digitisation enables more precise and timely measurement of climate risks across various portfolios. She described how AI and machine learning facilitate predictive modelling for various scenarios, including floods, droughts, and credit stress situations.
According to her, “Nigeria must persist in implementing strong and effective measures to combat climate risks. We should prioritise sustainable land use practices, promote environmental education, and strengthen policies that support climate adaptation and mitigation.
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“Collective action at all levels- government, businesses, and civil society is essential to ensure a sustainable future for our nation in the face of climate change.”
Speaking during the event, Kemi Ogunyemi, Business Ethics and Members, Management Board, Lagos Business School, stated, “At the Lagos Business School Sustainability Centre, we believe that collaboration between academia and industry is vital in addressing the pressing challenges posed by climate change.
“The success of the Stanbic IBTC Sustainable Finance Summit 2.0 highlights the collective potential of diverse stakeholders coming together to drive innovation in sustainable finance. As we continue to foster meaningful dialogue and partnership, we are excited to see the tangible impact our efforts will have on creating climate-smart communities across Nigeria and beyond.”