The Dominica Agricultural Industrial and Development Bank (AID Bank) will introduce an Environmental Social and Governance (ESG) policy to mitigate against the impact of climate change.
Chairman of the AID Bank Martin Charles made the announcement during the bank’s 31st Annual General Meeting (AGM) held this week.
According to him, climate change is a real phenomenon globally, therefore environmental sustainability continues to be among the bank’s top priorities.
“Through assistance from the Caribbean Development Bank, the AID Bank has in place a climate change policy which is meant to mitigate the impact of climate change in our investment activities,” he said. “By June 2025 we will introduce an Environmental Social and Governance (ESG) policy to guide the bank in its assessment and management of its environmental, social, and governance risk in its investment portfolio.”
Ostensibly, this could mean a more focused and environmentally conscientious approach to the bank’s lending and investment habits, as Charles explained that these policies are intended to promote sustainable land management, and encourage resilience building and protection of the country’s marine ecosystem.
He added that it is “all in an effort to preserve Dominica’s rich ecosystem.”
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