Access Bank Launches “Switch to Solar” Campaign to Promote Clean Energy and Combat Climate Change
In a bold move to address climate change and foster sustainable energy solutions, Access Bank has launched its innovative “Switch to Solar” campaign. Unveiled in Lagos, this initiative targets both households and businesses, aiming to capitalize on the advancing economics of solar and storage technologies. By enabling clients to adopt environmentally friendly energy alternatives, Access Bank is reinforcing its commitment to social responsibility and sustainable development.
A Commitment to Cleaner Energy
Njideka Esomeju, the Group Head of Consumer Banking at Access Bank, highlighted the campaign’s objective to provide a reliable electricity source through solar photovoltaic (PV) systems and batteries. “We are committed to promoting cleaner energy solutions within our communities,” Esomeju stated. “Our targeted initiative facilitates the acquisition of solar power products through flexible financing options with the Switch to Solar product.”
Flexible Financing for Solar Solutions
The “Switch to Solar” campaign offers households access to solar energy at reduced costs, with financing provided by Access Bank. By collaborating with accredited vendors nationwide, the bank ensures competitive rates for solar products, making the transition to clean energy more affordable. The financing options are designed to be flexible, enabling customers to spread payments over 48 months. This makes it possible for salary earners to access up to N10 million for solar installations.
Supporting National and Global Climate Goals
Gbenga Sheriff, Head of Risk Management (Environmental and Social Risk), emphasized that the campaign aligns with the Federal Government’s Nationally Determined Contribution to the United Nations Framework Convention on Climate Change and the Paris Agreement. The government aims for a 20% unconditional and a 47% conditional reduction in Greenhouse Gas (GHG) emissions below 2018 levels, contingent on international support.
Customer-Centric and Inclusive Approach
The initiative is a result of extensive customer engagements and is aligned with Economic, Social, and Governance Goal 7. Bolarinwa Animashaun, Regional Sales Director for Lagos 1, noted that the product’s flexible payment options make it accessible, with financing available up to N10 million for individuals and up to N50 million for businesses. This includes solar PV, batteries, and inverters, with a 10% equity contribution on the invoice value.
Empowering Underserved Communities
Abiodun Olubitan, Group Head of Women Banking, highlighted the campaign’s focus on underserved communities, particularly women, who make up about 60% of this population. To support women’s business operations, the bank offers solar products at a discounted interest rate. This effort not only promotes clean energy but also aims to empower women economically.
Conclusion: A Sustainable Future with Access Bank
Access Bank’s “Switch to Solar” campaign is a significant step towards a sustainable future, offering accessible financing for clean energy solutions and supporting global and national climate goals. By providing flexible payment options and partnering with accredited vendors, Access Bank is making solar energy more affordable and accessible. This initiative reflects the bank’s dedication to sustainability, social impact, and community development, positioning it as a leader in the transition to renewable energy in Nigeria.
