BOI launches sustainable finance framework to drive Inclusive, Climate-resilient growth

The Bank of Industry (BOI) has officially launched its Sustainable Finance Framework, marking a significant stride towards promoting responsible, inclusive, and environmentally sustainable development across Nigeria. This new framework solidifies the Bank’s commitment to aligning its operations with global sustainability standards.

The framework is a cornerstone of the Bank’s 2025–2027 corporate strategy, which places a strong emphasis on long-term development impact, environmental stewardship, and social inclusion. It is specifically designed to empower Nigerian enterprises to generate both economic value and measurable environmental and social benefits.

“This framework marks a major milestone in our transformation into a fully sustainable development finance institution,” stated Dr. Olasupo Olusi, BOI Managing Director/CEO. “It reflects our intent to finance enterprises that generate economic returns while advancing environmental and social goals.”

The framework is meticulously aligned with several key international and national sustainability principles, including:

• The UN Sustainable Development Goals (SDGs), a collection of 17 interlinked global goals designed to be a “blueprint to achieve a better and more sustainable future for all” by 2030.
• The Paris Agreement, an international treaty on climate change adopted in 2015, aiming to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.
• The Principles for Responsible Banking, a unique framework developed by the United Nations Environment Programme Finance Initiative (UNEP FI), guiding banks in aligning their strategies and practices with the SDGs and the Paris Agreement.
• The Nigerian Sustainable Banking Principles (NSBP), adopted by Nigerian banks in 2012, which provide a framework for integrating environmental and social considerations into banking operations.

Furthermore, the framework integrates BOI’s internal Environmental, Social, and Governance (ESG) policies and Corporate Social Responsibility (CSR) strategies, creating a holistic approach to sustainability across its operations.

Central to the new framework is BOI’s adoption of a “People, Planet, and Profit” model. This ensures that all investments will generate not only financial returns but also significant social inclusion and positive environmental impacts. This innovative structure positions BOI to programmatically raise Green, Social, and Sustainability Bonds and Loans in accordance with the guidelines of the International Capital Market Association (ICMA), the Loan Market Association (LMA), and the Loan Syndications and Trading Association (LSTA). These associations provide globally recognized principles for sustainable debt instruments.

Significantly, the framework has received independent validation from S&P Global Ratings, which issued a Second Party Opinion (SPO) affirming its alignment with international sustainable finance standards.

This prestigious endorsement is expected to significantly boost BOI’s appeal to institutional investors actively seeking high-impact, ESG-aligned opportunities in emerging markets.

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With this strategic initiative, BOI aims to:

• Support businesses with demonstrably sustainable business models.
• Attract blended and concessional capital, combining public and private funds for greater impact.
• Advance critical national priorities such as climate resilience, job creation, gender inclusion, and export diversification.

The Bank plans to scale its impact across key sectors vital to Nigeria’s development, including:

• Renewable energy
• Clean transportation
• Agro-processing
• Healthcare
• Education
• Digital infrastructure

The unveiling of the Sustainable Finance Framework signals a major step forward in BOI’s overarching mission to foster a greener, more inclusive, and resilient Nigerian economy.