The Uganda Bankers Association (UBA) has elected Cathy Adengo as the Chairperson of its Sustainability Committee.
Adengo, who is also the head of Sustainability at Stanbic Bank Uganda, will lead an executive committee comprising members from prominent banks, including Stanbic Bank, Centenary Bank, Equity, and BRAC Uganda Bank Limited.
“It is an honour to be appointed the Chairperson of the UBA Sustainability Committee. The financial services sector plays a critical role in driving Sustainability and ESG priorities across the economy,” Adengo said after the election.
“As Chairperson, my vision is to ensure that Environmental, Social and Governance factors are embedded through our financial decisions that lead to sustainable economic growth and have a positive impact that will transform the lives of Ugandans,” she added.
Driving Sustainability in the Financial Sector
Adengo expressed her gratitude to the Committee, highlighting the critical role the financial services sector plays in driving Sustainability and Environmental, Social, and Governance (ESG) priorities across the economy.
As Chairperson, her vision is to ensure that ESG factors are embedded in financial decisions, leading to sustainable economic growth and a positive impact on the lives of Ugandans.
Key Objectives
Under Adengo’s leadership, the UBA Sustainability Committee is expected to focus on:
Promoting sustainable financial practices by encouraging banks to adopt ESG principles in their decision-making processes.
Driving environmental sustainability through supporting initiatives that reduce the environmental impact of financial institutions.
Fostering social responsibility through encouraging banks to prioritise social welfare and community development.
Enhancing governance by promoting transparency and accountability in financial institutions.
Implications for the Banking Sector
Adengo’s appointment is a significant step towards promoting sustainability in the banking sector. Her leadership will likely drive the adoption of ESG principles, contributing to sustainable economic growth and positive social impact.
The UBA Sustainability Committee’s work will also enhance the reputation of the banking sector, demonstrating its commitment to responsible business practices.
Adengo’s appointment as Chairperson of the UBA Sustainability Committee is a welcome development for the banking sector.
Her vision for embedding ESG factors in financial decisions will likely have a positive impact on the economy and society.
As the committee begins its work, it is expected to drive sustainable financial practices, promote environmental sustainability, and foster social responsibility.