The staff and management of Ecobank Ghana will in the next weeks be planting at least 1,700 new trees in the Chipa Forest Reserve near Dodowa in the Greater-Accra Region as part of activities to close this year’s World Environment Day.
Ecobank has been partnering the Forestry Commission to observe World Environment Day on June 5 every year since 2013. On that day every year, the bank always mobilised its staff and joined hands with the commission to green institutions in selected regions across the country.
To ensure sustainability and more impact from they do to mark the day, the bank broadened its scope this year by joining in the official launch and commemorative tree planting at the Kwabenya Community SHS on June 5, actively participating in tree planting by the Diplomatic Corps and Heads of selected institutions at the Achimota Forest Reserve on June 20, and sponsoring the planting of 2,800 trees at 27 schools and hospitals across 5 regions of Ghana on June 27.
In a speech read on his behalf at the Chipa Forest Reserve tree planting ceremonial event, Executive Director and Regional Head of Consumer Banking for Anglophone West Africa, Tara Squire said within the next two weeks, the bank expects to plant at least 1,700 trees on a two-acre degraded land within this forest.
He said “Our over concentration on afforestation and reforestation stems from the fact that forests are a powerful tool for environmental restoration and sustainable development.”
Tara Squire explained that reforestation on degraded lands in particular, offers both environmental and social benefits to us, including – improving ecosystems by providing homes for various plant and animal species, improving soil structure and fertility by preventing erosion, enhancing water retention, and adding organic matter through leaf litter and improving climate regulation, as forests absorb carbon dioxide from the atmosphere, while releasing oxygen to improve air quality and contributing to better health for all.
He noted that other critical benefits include economic value through job creation and improvement in the standard of living in our communities as well as aesthetic and recreational value, where we have beautiful landscapes for sightseeing, which can in turn promote tourism.
According to him, it is well documented that a single mature tree has the remarkable ability to supply enough oxygen in one day to support up to four individuals, adding that a healthy tree can absorb as much as 13 pounds of carbon each year, making it an invaluable ally in the fight against climate change.
“To put this into perspective, every 16,000 kilometres driven by a car produces a quantity of carbon dioxide that would require approximately seven trees to neutralize,” he said.
Recognizing these vital contributions, he said, Ecobank has taken meaningful actions by wholeheartedly adopting tree planting initiatives as part of our commitment to combat environmental degradation, adding that by supporting the growth of new forests and promoting sustainability, Ecobank is playing an active role in safeguarding both the planet’s atmosphere and the well-being of future generations.
Tara Squire noted that outside the forest, sustainability is at the core of everything Ecobank does, as the largest Pan African banking institution to make positive impact across all communities in their catchment areas on the continent.
“This is the reason why we are committed to taking active initiatives to reduce the carbon footprints of our operations, in the areas of our supply and procurement, building designs, energy usage, among others,” he stated.
Tara Squire reiterated the point that tree planting must be a priority for everyone, saying that with an adult population of 60% of the estimated 34.7 million Ghanaians, if each adult person plants one tree every year, Ghana will be boasting of planting 20.8 million trees annually.
“This will certainly be a substantial contribution to restoring our fast-degrading forest to its natural form, creating a congenial environment for the future,” he said.
Digitization
He noted that in addition to driving sustainability, Ecobank continues to promote financial literacy and financial inclusion, through digitization, targeted at both the underserved and underbanked sectors of society, in order to make positive impact on humanity and the environment.
“Our comprehensive suite of electronic products serves individuals, micro, small, and medium enterprises, as well as large corporates, including multinationals. We offer customized solutions to meet every banking need, one of which is the our money emergency number *770# for individuals,” he said.
