WATCH | Standard Bank’s Academy leads sustainability education in Africa
Africa, contributing under 4% of global emissions, faces up to 5% GDP loss from climate change. Standard Bank’s free Sustainability Academy supports SMEs to integrate sustainable practices.
Africa, while contributing less than 4% of global greenhouse gas emissions, bears a disproportionate impact of climate change, with losses of up to 5% of its Gross Domestic Product annually.
Businesses, as major contributors to emissions, must strengthen their efforts to transition towards sustainability. Education plays a crucial role in this transformation. However, research from Cambridge University highlights a significant gap: only 16 (38%) of Association of African Business Schools-accredited institutions offer courses or modules focused on sustainability.
"People cannot act on something that they don’t know and cannot leverage opportunities that they don’t know exist. Knowledge is critical in this space, as it enables people to operate from a position of informed understanding, allowing them to make informed business decisions. Climate change is here, and it’s not going away. The question now is, how do we prepare these businesses to be resilient, and how do we ensure they know how to manage the risks?" says Dr Manessah Alagbaoso, the Executive Head of Business Ecosystems & Sustainability for Business and Commercial Banking at Standard Bank.
Sustainability Academy
To help empower these businesses with the knowledge and tools needed to transition towards sustainable growth, Standard Bank recently launched its Sustainability Academy. The Academy offers businesses access to expert-led sustainability education at no cost.
Launched in August, it is fully online, allowing participation from individuals across the continent.
"The Sustainability Academy is a learning platform developed for businesses in Africa to enable them to transition successfully. It is our clearest demonstration of our intention to ensure that none of these small businesses are left behind when it comes to sustainability. We are fully committed to Africa’s development. When we say, ‘Africa is our home, we drive her growth,’ it’s not just a tagline; it’s the reason we exist," Alagbaoso explains.
The Academy, which already has over 500 users, aims to assist businesses in integrating sustainable practices into their operations and creating meaningful impact through modules on sustainability, climate-smart agriculture, water and wastewater management, carbon markets, and renewable energy. The initial feedback has exceeded expectations.
"We piloted this with 93 businesses across seven countries. We wanted to ensure not only that the content aligned with our training vision but also that it resonated effectively with these businesses."
The academy mainly targets small and medium enterprises (SMEs), as many lack the financial capacity to hire consultants for guidance on sustainability, a relatively new and specialised field.
While SMEs are the primary focus, the initiative is also open to larger businesses, with corporate clients showing interest in utilising its offerings. This aligns with Standard Bank’s broader strategy of fostering ecosystem banking within the business and commercial sectors.
Alagbaoso envisions that the academy will become a benchmark for sustainability training for businesses across Africa.
"I’m hoping that it’s not just Standard Bank [building a knowledge base for sustainability]. We’ve taken the first step, but I believe that this vision will attract more stakeholders to create a learning ecosystem where businesses can freely learn about sustainability and apply these sustainable practices to their operations. Importantly, I am confident that our training will impact these businesses positively and, beyond that, lays the groundwork for future generations," he concludes.
Click HERE to find out more about Standard Bank’s Sustainability Academy and how it can help your business prepare for a more sustainable and just transition.
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