Absa named green financial institution of the year

Absa Bank Uganda has been named Green Financial Institution of the Year at the third edition of the National Environment Management Authority (NEMA) Sustainability Awards.

The awards were held last Friday at Kampala Serena Hotel.

NEMA recognised Absa for its contribution to sustainable financing and environmental protection.

The award was presented by NEMA Executive Director Dr Barirega Akankwasah. He praised institutions that promote environmental compliance and support economic activities that protect Uganda’s ecosystems.

Pamela Turyatunga, Absa Uganda’s Sustainability Manager, said the award affirmed the bank’s commitment to being a force for good.

"This award validates our deliberate journey toward anchoring sustainability at the core of our business operations," Turyatunga said.

"At Absa, we believe that financial growth must never come at the expense of our planet. This milestone inspires us to scale up our green lending portfolios, empower local communities with climate-resilient capacity, and continue financing solutions that secure a sustainable, low-carbon future for Uganda."

Absa said its green finance work includes $50 million towards renewable energy and smart grid technologies. The funding supports energy efficiency and energy storage systems that help stabilise renewable power.

The bank also reported Shs82 billion in sustainable financing. This includes affordable loans to commercial riders to buy electric motorcycles. The programme supports green mobility and income generation.

Absa has also supported women’s economic empowerment as part of its sustainability work.

The bank said it has planted more than 1.28 million trees, beating its initial target of one million trees ahead of schedule.

The NEMA Sustainability Awards celebrate individuals, organisations and communities that observe environmental laws and support climate adaptation.