Equity Bank Uganda Limited has always been at the forefront of social responsibility, with a strong focus on environmental conservation.
The bank’s commitment to the environment is evident through initiatives like the Equi Green Loan, designed to support projects dedicated to clean energy, environmental preservation, and combating climate change.
One of Equity Bank Uganda’s flagship projects is its tree-planting initiative, which promotes sustainable practices for preserving natural habitats and mitigating climate change effects.
As part of the wider Equity Group’s ambitious goal to plant 35 million trees across the countries it operates in, Equity Bank Uganda has already made significant strides in areas such as Ntungamo, Nyakasura Hill, Rubaga, Kasese, and Mwiri Hill. Collaborating with the National Forestry Authority and Million Trees International, these efforts showcase the bank’s dedication to environmental Sustainability.
According to Global Forest Watch, Uganda lost 13 per cent of tree cover, or 1.03 million hectares, between 2001 and 2022. This makes Equity Bank Uganda’s reforestation efforts even more critical in reversing the country’s rapidly diminishing forest cover. Over 15,000 trees have been planted so far while loans worth UGX15.12 billion have been disbursed towards projects targeting climate change.
Furthermore, Equity Bank Uganda is actively involved in promoting clean energy solutions. By offering loans to customers for the purchase of clean energy products from various partners, the bank is not only supporting eco-friendly practices but also contributing to the reduction of respiratory diseases, thus safeguarding human Health.
Working with partners like the Uganda Energy Credit Capitalisation Company (UECCC) and aBi Trust, the bank has disbursed over UGX 14.75 billion for solar system financing targeting households and SMEs. This has resulted in the adoption of 1,339 clean energy kits sold to households, further aiding the transition to clean Energy.
In addition to these initiatives, Equity Bank Uganda is extending its impact to the education sector by constructing school kitchens that use clean energy in various schools, including one upcoming project in Ntungamo scheduled for launch in June.
This initiative aims to transform school kitchens from traditionally using firewood to clean energy cooking stoves, thus addressing the fact that an estimated 93 per cent of Ugandan households depend on biomass for energy, and a majority of institutions like schools, hospitals, and prisons also use firewood for cooking.
Equity encourages the shift to clean energy to lessen dependence on wood fuel, charcoal, and fossil fuels like kerosene. This transition directly improves health by reducing household air pollution and benefits the environment by lowering carbon
footprints, and aids in combating climate change.
Equity Bank Uganda’s unwavering dedication to environmental conservation serves as a shining example of how financial institutions can lead the way in promoting sustainability and fostering a greener future for all. Through these initiatives, the bank continues to showcase its commitment to integrity, transparency, and making a meaningful impact on the world around us.
Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
