UBA Reduces Paper Usage to 15 Percent in 2019

United Bank for Africa (UBA) Plc said the introduction of paperless policy across its operations in 2019 helped reduce paper usage by 85 percent within the first three months of implementation.

In the bank’s Sustainability Report for 2019, it said the target is to attain zero paper usage by the end of 2020.

Speaking on the lender’s position on sustainable development goals (SDGs), Tony Elumelu, Chairman, UBA, said “It is my honour to present the maiden standalone sustainability report of our Bank, the United Bank for Africa plc. This is a further reiteration of your Bank’s commitment to leaving an enduring legacy for the future.

“When we say we are committed to building an enduring institution, sustainability is at the heart of that commitment. This statement underlines our sustainability strategy. Our idea of sustainability is underpinned by the position we occupy in the banking space in Africa. It is imminently heart-warming to know that we are the only sub-Saharan African bank regulated by both the office of the Comptroller of Currency in the United States and the Prudential Regulations Authority in the United Kingdom.

“This is a rare milestone that reinforces our brand as Africa’s Global Bank and at the same time places demands on us to consistently push the frontiers of sustainable banking in Africa. Because we believe that charity begins at home, that is why we initiated several actions to reduce our environmental footprints.

“One of such initiatives is the reduction of energy and water consumption at the corporate head office by installing motion sensor light bulbs and sensor controlled faucets across the building.

“In 2019, we championed a paperless policy drive to curtail our environmental footprint. This is a significant milestone where we have seen paper usage cut down by about 85 percent, just within first three months of implementing this initiative. Our target is to achieve 100 percent paper usage reduction by the end of 2020.

“In the coming years, we plan to strengthen our local and international partnerships to drive our delivery of the sustainable development goals (SDGs). In addition to existing partnerships with the Central Bank of Nigeria(CBN), UNEP and a host of others, we plan to formalize our membership of the Equator Principles Association(EPA) and get listed on the EPA’s website.

“We believe this will reaffirm our commitment to ensuring that our project finance and related activities are done in line with the Equator Principles. Also, it is to further reinforce our commitment to delivering sustainable value to our shareholders in a manner that preserves current and future population and the planet.”