This renewed commitment was prominently demonstrated at the Fourth International Conference on Financing for Development (FfD4), held recently in Seville, Spain, by the United Nations Department of Economic and Social Affairs (UN DESA).

Bringing together global policymakers, private sector leaders, and development stakeholders, the FfD4 conference focused on finding innovative ways to bridge the growing global financing gap for achieving the Sustainable Development Goals (SDGs) particularly in underserved and fragile regions.

Representing FirstBank at the event, Patrick Akhidenor, the bank’s chief risk officer, spotlighted two flagship initiatives that exemplify FirstBank’s leadership in resilience and inclusive finance:

• The Solar Equipment Financing Initiative, which enables individuals and businesses to purchase and install solar systems through flexible financing, promoting clean, affordable, and sustainable energy access.
• The revamped FirstGem Fund, a women-centered funding programme offering collateral-free loans at single-digit interest rates, designed to support female entrepreneurs and close gender funding gaps in vital sectors.

“We are deeply committed to driving sustainable finance and unlocking capital that fuels inclusive development,” said Akhidenor.

“Our partnership with UNGC and our active participation at FfD4 signal our resolve to deliver practical, impact-driven financial solutions that align with Nigeria’s—and Africa’s—development priorities.”

Mobilising Capital through Innovation and Inclusion

The importance of FirstBank’s work was echoed by Sanda Ojambo, CEO of the United Nations Global Compact (UNGC), who called for scalable financial innovations tailored to the needs of vulnerable regions.

“The private sector must be at the heart of shaping bold, fit-for-purpose finance models,” Ojambo noted.
“Tools like blended finance and de-risking strategies are critical to unlocking private capital and driving measurable impact.”

Empowering SMEs, Driving Development

FirstBank’s dedication to sustainable finance goes beyond funding products. Through strategic partnerships with Development Finance Institutions (DFIs) and its robust SMEConnect platform, the bank delivers training, networking opportunities, and targeted financing for small businesses across key sectors such as education, healthcare, retail, and agriculture.

By combining innovative finance with inclusive outreach, FirstBank continues to position itself as a key player in Africa’s sustainable development journey, proving that banks can be engines of not just economic growth, but long-term societal progress.

PCAF is a collaboration between financial institutions worldwide to enable harmonised assessments and disclosures of greenhouse gas (GHG) emissions from loans and investments.

With more than 530 financial institutions from six continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.

Joining PCAF aligns with FirstBank’s broader climate agenda, reinforcing its efforts to contribute meaningfully to global climate goals.

By adopting PCAF’s globally recognised standards, FirstBank aims to enhance transparency in carbon accounting and reporting, integrate climate risk into its lending and investment decision-making, and support Nigeria’s transition to a low-carbon economy.

This initiative complements FirstBank’s ongoing work on environmental, social, and governance (ESG) issues, underscoring its dedication to responsible banking practices.

PCAF will provide FirstBank with a standardised methodology and framework to measure and report the Bank’s GHG emissions and climate-related risks.

By joining PCAF, the Bank’s capability in understanding and managing its exposure to climate risks and liabilities (physical and transition risks) will be enhanced.

This will enable the Bank to make informed decisions and take proactive measures to mitigate these risks while leveraging on the opportunities for growth.

Dylan Hauser, regional lead For PCAF Africa said;

“We congratulate FirstBank on becoming a signatory of PCAF. We are absolutely delighted to have FirstBank on board sharing our commitment to driving positive change and reducing carbon footprints in the region through transparent and accountable practices.”

According to Patrick Akhidenor, chief risk officer, FirstBank,

“Joining PCAF is a significant milestone in our sustainability journey. It is not only a demonstration of our commitment to combatting climate change but also a step towards ensuring that we, as a financial institution, are accountable for the carbon emissions our activities finance. We are excited to collaborate with other global institutions in driving meaningful climate action”.

By joining forces with PCAF, FirstBank is poised to champion transparency and accountability in impact of the financial sector’s activities on climate change.