Africa's banks to consider challenges
Seven out of ten banks in South Africa and three out of 12 banks in Nigeria are now factoring environmental, social and governance (ESG) issues into their credit risk assessment for corporate and consumer loans.
The findings, by the United Nations Environment Programme's Finance Initiative (UNEP FI) in partnership with the Unisa Centre for Corporate Citizenship, highlight how wider, sustainability factors are beginning to penetrate the lending decisions of Africa's financial community - albeit to varying degrees and, in this study within the Continent's two largest economies.
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