Polaris Bank Initiates Tree Planting Program in Ogun

Polaris Bank has launched a tree-planting initiative in Ogun State to combat the effects of climate change and promote environmental sustainability.

During the event at Tai Solarin University of Education, Ijagun, near Ijebu-Ode, Ogun State, on Monday, Polaris Bank’s Executive Director, Chris Ofikulu, emphasized the importance of forest regeneration in addressing climate change. The pilot project, in partnership with the Nigeria Conservation Foundation, involves planting 500 tree seedlings to demonstrate the bank’s commitment to environmental protection.

Ofikulu stated that 250 tree seedlings will be planted at the university, while the rest will be planted in another location within the state, to be determined soon.

“This initiative commemorates World Environment Day in June 2024,” Ofikulu said. “This year’s theme, ‘Land Restoration, Desertification, and Drought Resilience,’ aligns with the United Nations Decade of Ecosystem Restoration (2021-2030). In support of this, Polaris Bank has committed to sustainable practices and land restoration by planting trees in regions affected by erosion, starting with Ogun State. Sustainability is not just a catchphrase for us at Polaris Bank; it is our ethos and a journey we are dedicated to.”

He added, “Our sustainability practices include promoting responsible banking, empowering people and society, addressing environmental issues, and fostering sustainable economic growth. Every decision we make, from investments to operations, is guided by Environmental, Social, and Governance principles.”

The Vice Chancellor of the university, Prof. Oluwole Banjo, represented by Deputy Vice-Chancellor Prof. Adekunle Adeogun, expressed gratitude to the bank for partnering with the university on initiatives like tree-planting to mitigate the effects of climate change, such as heat, drought, and flooding.

Ayodele Alamu, Senior Manager of Partnerships at NCF, highlighted the initiative’s goal of achieving afforestation and restoring Nigeria’s forest cover. He noted, “Deforestation is a significant challenge, reducing our forest cover from 30% years ago to between 6% and 8% now. This leads to land degradation and erosion. However, tree-planting projects like this, in partnership with Polaris Bank and TASUED, will help address these challenges and promote environmental sustainability. It is an effort we all must participate in to combat climate change and its negative impacts.”