BOI Launches Sustainable Finance Framework to Drive Inclusive Growth

The Bank of Industry (BOI) has launched its Sustainable Finance Framework, a pivotal step toward driving inclusive development and climate resilience across Nigeria’s industrial landscape.

Described as a strategic blueprint for aligning the bank’s financing with global sustainability benchmarks, the framework will guide BOI’s investments in projects that deliver measurable environmental, social, and economic impact. This move, according to the bank, supports its 2025-2027 corporate strategy and reflects a growing alignment with international ESG (Environmental, Social, Governance) standards.

“This framework marks a significant milestone in our journey to become a fully sustainable development finance institution,” said Dr. Olasupo Olusi, BOI’s Managing Director and CEO. “It reflects our strategic intent to finance enterprises that deliver both economic value and measurable social and environmental benefits.”

BOI’s framework draws from key global and domestic standards, including:

The UN Sustainable Development Goals (SDGs), The Paris Climate Agreement, The Nigerian Sustainable Banking Principles, The Principles for Responsible Banking

At its core lies the “Triple Bottom Line” approach prioritising People, Planet, and Profit — ensuring that financial returns are coupled with social inclusion and environmental stewardship.

The framework paves the way for BOI to raise Green, Social, and Sustainability Bonds and Loans, aligned with guidelines from the International Capital Market Association (ICMA), the Loan Market Association (LMA), and the Loan Syndications and Trading Association (LSTA). It has also earned a second-party opinion from S&P Global Ratings, affirming its alignment with international sustainable finance norms — a crucial endorsement for attracting impact-driven institutional investors.

According to Theodora Amechi, BOI’s Divisional Head of Public Relations, the framework will empower Nigerian businesses committed to sustainable practices, while also unlocking blended and concessional finance for critical sectors like:

Renewable energy, Clean transport, Agro-processing, Education, Healthcare, Digital infrastructure

KPMG estimates that the global sustainable finance market will exceed $50 trillion by 2025, nearly one-third of all global assets under management. BOI’s framework positions Nigeria to participate meaningfully in this rapidly expanding financial ecosystem.

The Bank of Industry, Nigeria’s oldest and largest development finance institution, has operations in 33 states and supports enterprises at all levels. Through this new sustainability lens, it aims to not only expand access to finance but also strengthen Nigeria’s resilience to climate and socio-economic shocks.