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Thursday, December 17, 2020 / 5:29 PM / NSE / Header Image Credit: Zenith Bank
Introduction
About this Report
Zenith Bank's Sustainability Report 2019 "Creating
Value and Opportunities" covers January 1, 2019, to December 31, 2019. It is an
annual report that discloses our economic, environmental and social performance
in the financial year 2019 and our plans and target for the next five years.
The standalone sustainability report is in its 5th year.
This report has been prepared in accordance with
the GRI Standards: Core Option, and the GRI content index is available on page
109. The Management Approach for the General and Topic-Specific Disclosure
guidelines for the different indicators are set out in the report. The report
also discloses our alignment to relevant international and local standards like
the Sustainable Development Goals (SDGs), the Principles for Responsible
Investment by the United Nations Environment Programme Finance Initiative, the
Nigerian Sustainable Banking Principles, and the Nigeria Stock Exchange -
Sustainability Disclosure Guidelines.
The report also includes a materiality matrix
covering all issues that are relevant to the business and its stakeholders, as
well as a section showcasing the Bank's financial inclusion strides within the
review period.
The report underscores our progress, challenges
and aspirations as we transitioned further into sustainable finance in tandem
with our continuous efforts to embed sustainability into our business
operations and environs within this reporting frame, 2019. Herein, we have
disclosed the impact of our positive and negative footprints on the economy,
natural environment and the society. The Zenith Bank 2019 Sustainability Report
also highlights the different stakeholders' engagement platforms that we
deployed, the material issues that emerged from these engagements, and how they
were managed.
Disclosures made in this report cover only the
Nigerian operations of Zenith Bank Plc, unless otherwise stated. This year's
report ushers us additional opportunity to gauge our progress so far in the
sustainability journey. There are no restatements of information in the
reporting period.
PricewaterhouseCoopers conducted a limited
assurance engagement in accordance with international Standard on Assurance
Engagement 3000 (Revised) 'Assurance Engagements other than Audits and Reviews
of Historical Financial Information' issued by the international Auditing and
Assurance Standards Boards. Zenith Bank's approach to engaging external
auditors for the performance of limited assurance services ensures that the
service is approved by the Executive Management of the Bank; that the auditors
have the capacity to carry out the service; and that there is no interference
with the independence of the auditors. The external assurance procedure
included on-site visits, interviews with relevant KPI managers and verification
of related documents and data.
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