The Chief Executive Officer of the Ghana Export-Import Bank (Ghana Exim Bank), Sylvester Adinam Mensah, has described the institution's formal commitment to the United Nations Global Compact as a significant milestone that will strengthen its global credibility and deepen its commitment to sustainable financing.

Speaking on the sidelines of the United Nations Global Compact signing ceremony in Accra on Thursday, July 2, Mr Mensah said the bank's decision to join the world's largest corporate sustainability initiative reflects a deliberate strategy to integrate environmental, social and governance (ESG) principles into all aspects of its operations.

He explained that the UN Global Compact brings together governments, businesses and institutions committed to advancing sustainable development through responsible business practices, emphasising that financial institutions have a critical role to play in promoting sustainability across the global economy.

"The whole idea of the UN Global Compact is having a community of institutions and countries committed to sustainability," Mr Mensah said.

"We are talking about protecting the environment across the globe, and there is a need for institutions to demonstrate genuine commitment to sustainability."

According to him, Ghana Exim Bank's membership of the initiative reinforces its position as a credible development finance institution capable of operating in line with internationally recognised sustainability standards.

He noted that by embracing the ten principles of the UN Global Compact, the bank has undertaken a greater responsibility to ensure that sustainability becomes an integral part of its financial operations and investment decisions.

"Today we have embraced the ten principles espoused by the UN Global Compact, which makes Ghana Exim Bank a more credible financial institution globally. It also places a high responsibility on us to ensure that all our businesses are compliant, so that sustainability becomes integrated into all our financial dealings," he stated.

Mr Mensah added that the development would further enhance the bank's standing among development finance institutions (DFIs), international financial organisations and strategic investment partners.

"It increases our credibility with other DFIs and financial institutions, and I believe that is a major step forward," he said.

The Chief Executive Officer stressed that joining the UN Global Compact was not an overnight achievement but the culmination of a rigorous process that began approximately a year ago.

He explained that institutions seeking membership must satisfy a number of governance and sustainability requirements before they can formally become signatories.

"This is a process we began about a year ago. We did not just begin today. To join the UN Global Compact requires fulfilling some basic expectations," Mr Mensah noted.

As part of the bank's preparations, Ghana Exim Bank established a dedicated Sustainability and Strategic Impact Department to coordinate and oversee the implementation of sustainability policies across its operations.

In addition, the bank has developed comprehensive sustainability policies designed to guide its lending decisions and institutional practices.

"We have set up a whole department for sustainability and strategic impact, and that is a beginning. Beyond that, we have also developed policies regarding sustainability," he explained.

Mr Mensah revealed that sustainability considerations have now been fully integrated into the bank's credit assessment framework, ensuring that businesses seeking financial support demonstrate responsible environmental practices.

He said project evaluations now extend beyond financial viability to include environmental sustainability measures and long-term ecological impact.

"We have dovetailed the whole concept of sustainability into our credit processes and ensure that organisations and institutions we support meet minimum sustainability standards," he said.

According to him, project inspections conducted by the bank assess not only the technical and commercial feasibility of proposed investments but also applicants' commitment to environmental protection and sustainable resource management.

"When an organisation applies for credit, our team inspects the proposed project, the site and every aspect of the operation. We want to understand their concept of sustainability. We want to know what measures they have introduced, including green energy initiatives and other environmentally responsible practices, to ensure they appreciate the need to conserve the environment," he explained.

Mr Mensah indicated that Ghana Exim Bank's commitment extends beyond its internal operations and aims to influence sustainability practices throughout the businesses it finances.

He said the bank would continue strengthening its sustainability credentials by encouraging clients to adopt higher environmental standards as part of their corporate operations.

With increasing global attention on climate resilience, responsible investment and sustainable economic development, Ghana Exim Bank believes its membership of the UN Global Compact will position it more favourably within the international development finance landscape while contributing to Ghana's broader sustainable development agenda.