Following the recently concluded launch of an ESG framework for financial institutions regulated by Bank of Uganda (BoU), the public and private sector have come up with all the necessary tools to enhance the credibility of the sector.

Every October, commercial banks celebrate customer service week as a platform to give back to their clients. This October, the public has also given back to the banks through conducting a public opinion poll on ESG and sustainability efforts of the banks.

In an online survey conducted by GRO Foundation Uganda, categorized in 4 cohorts, over 4000 votes have been registered as shown below. The leading financial institutions with approximately 40% are Stanbic Bank and Centenary Bank.

Over 15 banks will be subjected to the same exercise, graded and awarded a certificate of public compliance and appreciation from the public. This exercise is expected to continue, stretching to other sectors to check their positions and what the public perception in line with ESG.

GRO Foundation is a social impact organization dedicated to alleviating poverty in grassroots communities through unlocking climate finance.

With ESG and Sustainability being one of the core pillars, Laban Joshua Musinguzi, Country Director has encouraged financial institutions to streamline and embrace policies to the recently launched frameworks so as to regain regulator, investors and public confidence.

There is dire need of training, capacity building and awareness to be conducted so as to position the financial sector and other sectors to benefit in the global green economy and achieving the SDG agenda for economic transformation of low income economies. TO VOTE!