CBG partners with Forestry Commission to restore Ghana’s forest cover

In a tacit demonstration of the bank’s commitment to environmental sustainability and restoring the Ghana’s forest cover, Consolidated Bank Ghana (CBG) has launched a three-year tree-planting initiative themed, ‘Greener Tomorrow; CBG’s commitment.’

CBG is set to restore 50 hectares, or roughly 125 acres, of a deforested portion of the Salvin’s Cap Forest Reserve in the Mpraeso Forest District, in collaboration with the Forestry Commission

The bank will through the initiative plant 60,000 across local communities in the country to help restore and preserve the natural landscape.

The launch event also saw the signing of a Memorandum of Understanding (MoU) with the Forest Services Division of the Forestry Commission which will see the Commission provide seedlings to the bank.

Speaking at the launch of the initiative in Accra, Managing Director of CBG, Mr Daniel Wilson Addo noted that trees play a critical role in addressing the challenges of the environment – absorbing carbon dioxide, producing oxygen, preventing soil erosion, and providing habitats for countless species of plants and animals.

“At CBG, we recognize that we have a responsibility to be stewards of 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 Nationally Determined Contributions under the Paris Agreement,” he stated.

According to Mr Addo, the Sustainable Development Goals set forth by the United Nations provided a clear roadmap for achieving a more sustainable future, and “Goal 15 – Life on Land – specifically calls for us to protect, restore, and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and biodiversity loss.”

By coming together to plant these trees, we are not only beautifying our environment but taking action to address the pressing environmental challenges we face. This is part of our holistic approach to sustainability, which also includes measures to reduce our carbon footprint, increase our use of renewable energy, and promote sustainable practices throughout our operations.

As a Bank that drives sustainability and signed on to the Bank of Ghana’s Sustainable Banking Principles and UN Global Compact, “we have incorporated sustainable practices into our processes.”

 The Bank, he maintained was honoured to partner with local organizations and community groups who share CBG’s passion for environmental stewardship.

Executive Director, Forest Services Division of the Forest Commission, Mr Hugh C.A Brown welcomed the initiative, expressing the Commission’s readiness to provide the needed support to ensure its success.

“We at the Forestry Commission are excited about this partnership, and we hope that their shining example will serve as a beacon to other private sector players to invest in such nature-based solutions to address climate change and biodiversity loss,” he said.