BOAD adopts a corporate social responsibility (CSR) policy and strategy for the next five (5) years

28012020Lomé, 26 January 2020. The Board of Directors of the West African Development Bank (BOAD) examined and approved the presentation memorandum describing its CSR policy during the 115th ordinary meeting held on 18 December 2019 at the BCEAO headquarters.

This new phase in corporate governance confirms BOAD’s willingness to stand by the member countries in implementing policies geared towards accelerated economic and social development within the eight (8) WAEMU countries.

Indeed, the momentum consists of setting up a CSR strategy, incorporating key issues to be addressed over the short, medium and long-term.

Structured around 11 areas and over a 5-year period, BOAD’s CSR strategy for 2020-2024, aims to better address those key challenges and contribute efficiently to the attainment of sustainable development goals (SDGs) set by the United Nations.

Over the coming years, BOAD is committed to 31 issues fleshed out in 17 projects which will be assessed annually based on monitoring indicators. It aims to improve its gender-related policy and reduce greenhouse gas emissions associated with its activities.

BOAD is also committed to become a socially responsible company, with a CSR approach which will gain considerable significance in dealing with stakeholders, making their full contribution to the Bank’s economic performance.

For BOAD, the goal is to create sustainable value for the entire sub-region. To that end, the CSR policy rests on five pillars.

The first pillar relates to governance that consists of mainstreaming CSR in BOAD’s strategy and all its activities in compliance with the requirements of the ISO 26000 standard whilst contributing to sustainable development goals (SDGs).

The second pillar concurs with issues related to territories and human rights. It aims to contribute to the development of territories through dialogue with stakeholders and ensuring respect for human rights.

The third pillar is dedicated to environment and aims at contributing to climate change control in projects supported, whilst mitigating BOAD’s environmental impact thanks to an efficient management system of climate-related issues.

The fourth pillar is for clients and partners. The purpose is to reckon with our clients and suppliers’ expectations, but also to promote concurrently CSR in their practices through increasing requirements.

Finally, the last pillar is devoted to human capital development and aims at maintaining and improving working conditions at BOAD by providing staff members the opportunity to develop their skills.

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