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Bank chief tasks firms on clean energy


Organisations have been urged to migrate to cleaner energy sources for their operations because of its capacity to reduce the impact of emissions on the environment.

Chairman of Stanbic IBTC Plc, Basil Omiyi, gave the charge at the bank’s public forum webinar held yesterday.

Acknowledging that the economy and society are wholly owned subsidiaries of the environment, he stated that the use of green energy would help keep the environment stable to support socio-economic activities.

He noted that to sustain development in the country, there should be balance to guarantee that the environment and society were not negatively affected by economic activities now and in the future.

He said: “Unlike fossil fuel energy sources, which harm the environment and one of the major contributors to climate change, green energy is devoid of carbon emissions.

As such, corporate organisations can migrate to cleaner energy sources for their operations. Financial institutions can help advance the shift by facilitating funding, in line with their risk appetites, which will be necessary to achieve growth in the green energy space,” he said.

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