The Chartered institute of Bankers Ghana (CIB) and the International Financial Corporation is collaborating to embark on a training course for bankers on Environmental and Social Governance, ESG.

This is part of moves by the institute to provide more knowledge on sustainable banking for the Ghanaian financial sector players.

Speaking to Joy Business at the 26th National Banking Conference in Accra, Chief Executive of the Chartered institute of Bankers, Robert Dzato, hinted that there is a paradigm shift in banking ,hence the need for Ghanaian banks to be more innovative.

Under the theme "Future of banking in Ghana, ethics, professionalism and ESG imperatives", this year’s National Banking Conference seeks to highlight the need for Ghanaian bankers to treat the issues of Environmental, Social and Governance as a priority in their operations.

According to Mr. Dzato, the institute as part of it’s mandate is collaborating with the International Finance Corporation to ensure training on sustainable banking and professionalism.

“As per our mandate of educating and making members aware of the importance of ESG, first of all we need to understand the meaning of ESG and explain to the members the kind of opportunities that exist in an ESG operating institution. We have a training for members of the Chartered Institute of Bankers together with the IFC to ensure the concept of sustainable banking is well understood.

"Another point is ethics and professionalism which is also part of sustainable banking and we are on track to improve as an Institute”, he told Journalists.

Speaking at the same event on behalf of the Governor of the Bank of Ghana, Head of Banking Supervision at the Central Bank, Osei Gyasi cautioned that Iiternational investors are becoming more concerned about ESG in the choice of making investments in the financial market.

The Chief Executive Officer of the Ghana Association of Banks, John Awuah said efforts are being made to make Ghanaian banks aware of the need for a sustainable banking.

“We have made efforts already together with the Bank of Ghana to have a roadmap for all member banks to pursue in achieving this. And so if you listen to the speakers, it tells you Ghanaian banks are so much in line with the global target for ESG.

"We believe that it is important as a bank to have ESG as part of our operations because sustainable banking is the way to go in the current situation”, he said.

The conference is part of the Institute’s Annual Bankers week celebration.