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Supporting institution

BOA

Bank of Africa

Information presented in this profile is for reference only. The Initiative, its Supporting Institutions and the Secretariat do not endorse the activities, tools or reports included in this profile.

Last updated: November 2021

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Overview of climate mainstreaming approach and goals:

Starting in 2000 by joining UNEP FI, BANK OF AFRICA adopted main international standards for achieving the Sustainable Development Goals. These include the IFC’s performance standards, which underpin the Bank’s Environmental and Social Management System, the Equator Principles, the UN’s Principles for Positive Impact Finance Initiative, the Principles for Responsible Banking and the Global Compact, the Mainstreaming Climate in Financial Institutions Initiative, the TCFD and Green Investment Principles. These standards provided a framework enabling the Bank to embed social, environmental and climate considerations into its operations.

Strongly committed to the Climate Finance Roadmap of the Moroccan Banking Association, and working proactively with various stakeholders including the Central Bank and Casablanca Finance City, BANK OF AFRICA continues to promote investments in clean tech and sustainability, committed to financing adaptation and mitigation in Morocco and in Africa. Through strategic partnerships with DFIs as well as other alliances, the Bank aims to reinforce its sustainable impact financing solutions for the national and continental markets.

This year, based on the Central Bank’s guideline on Climate, BANK OF AFRICA began integrating climate risks into its Group Risk Management Policy, which had recently evolved towards a holistic impact approach and integrated risk analysis in decision-making.

Through UNEP FI’s Portfolio Impact Analysis Tool for Banks, BANK OF AFRICA undertook its first PI portfolio analysis for Large enterprises, planning a progressive implementation to all activities and projects. This will enable it to identify its positive and negative impacts and set targets in line with the SDGs and the Paris Agreement.

Moreover, in partnership with IFC, Climate finance training and capacity building sessions were offered to the Bank’s subsidiaries in SS Africa, Europe and Asia, including initiation to the IFC’ CAFI (Climate Assessment in Financial Institutions) tool to assess climate criteria and impacts of projects financed.

Principal Strategic Documents:

Principal Tools and Methodologies:

Key reports and other materials published by the institution:

Sustainability Reporting