The Bank of Industry (BOI) has introduced a new Sustainable Finance Framework aimed at fostering inclusive development and climate resilience across Nigeria. The bank unveiled the initiative in a statement released on Saturday, positioning the framework as a cornerstone of its commitment to environmental, social, and governance (ESG) standards.
Described as a strategic blueprint, the framework is intended to align BOI’s financing operations with both global sustainability targets and Nigeria’s development objectives. It also forms part of the bank’s 2025–2027 corporate strategy, which emphasizes long-term impact, environmental responsibility, and social inclusion.
“This framework marks a significant milestone in our journey to become a fully sustainable development finance institution,” said Dr. Olasupo Olusi, Managing Director and CEO of BOI. “It reflects our strategic intent to finance enterprises that deliver economic value along with measurable social and environmental benefits.”
The framework draws on international and national sustainability principles, including the United Nations Sustainable Development Goals, the Paris Agreement, the Nigerian Sustainable Banking Principles, and the Principles for Responsible Banking. BOI noted that its internal ESG and Corporate Social Responsibility policies are also embedded within the framework, guiding the bank’s sustainability practices.
A central element of the initiative is BOI’s adoption of a “triple-bottom-line” approach balancing People, Planet, and Profit. This model is expected to ensure that the bank’s investments not only generate financial returns but also promote social inclusion and environmental sustainability.
In addition, the framework sets the stage for BOI to raise Green, Social, and Sustainability Bonds and Loans in accordance with international best practices, such as those outlined by the International Capital Market Association (ICMA), the Loan Market Association (LMA), and the Loan Syndications and Trading Association (LSTA).
The framework has received a second-party opinion from S&P Global Ratings, confirming its alignment with global sustainable finance standards. This endorsement is likely to bolster the bank’s appeal to institutional investors looking for ESG-compliant opportunities in emerging markets.
BOI stated that the framework would enable greater support for enterprises with a sustainability focus, as well as improve access to concessional and blended finance. The bank aims to use the platform to expand its impact in sectors such as renewable energy, clean transportation, agro-processing, healthcare, education, and digital infrastructure.
With operations across 33 states, BOI remains Nigeria’s largest and oldest development finance institution, offering funding and advisory support to enterprises ranging from large-scale industries to micro businesses. The bank reaffirmed its dedication to accelerating industrial development and promoting inclusive economic growth nationwide.
