LAPO Microfinance Bank Limited has teamed up with the International Institute of Tropical Agriculture (IITA) to launch a tree-planting initiative aimed at combating climate change and promoting environmental sustainability.
The Memorandum of Understanding (MOU) was signed at a ceremony in IITA’s Ibadan office, witnessed by representatives from both organisations. The Guardian reports that the first phase of the tree-planting initiative will begin in Oyo and Ogun states, with plans to expand to other regions of Nigeria in the future.
The partnership, according to a statement from the bank on Tuesday, is part of LAPO MfB’s commitment to addressing environmental challenges and their impact on communities across Nigeria.
It added that through the collaboration, both organisations aim to plant thousands of trees in key locations to aid reforestation efforts and promote biodiversity.
“The tree-planting initiative will involve community participation, with local residents, schools, and organisations encouraged to take part in the project. The goal is not only to plant trees but also to educate communities on the importance of environmental stewardship and sustainable practices,” the statement read.
Speaking about the collaboration, Mrs. Gloria Bako, Executive Director of Corporate Services at LAPO Microfinance Bank, noted the importance of the initiative, saying the partnership aligns with the bank’s ESG objectives and “will advance our efforts to address climate change, while positively impacting our environment and communities. We are proud to work with IITA, a leading institution in agricultural research, to make a tangible impact in the fight against climate change.”
On his part, Dr. Kenton Dashiell, Deputy Director-General for Partnerships for Delivery at IITA, who also spoke on the significance of the partnership, said the collaboration aims to provide “small efforts that can catalyse big impacts. We hope that our joint tree-planting initiative, along with other areas of mutual interest, will lead to multiple positive outcomes.”