Dashen Bank has started a significant project to put solar panels on the roofs of its headquarters and branches as part of its dedication to environmental preservation and renewable energy.
Fisseha Adugna, the bank’s ESG Specialist, said the action is a part of the strategy to lessen dependency on diesel-powered generators, reduce greenhouse gas emissions, and enhance community health by lowering pollution levels.
According to Engineering Director Tadiwos Leakemariam, 54 solar panels with a power output of 29 kilowatts are installed at the bank’s main office. He added that similar initiatives are being implemented in other branches to increase access to clean energy throughout the organisation.
Dashen Bank’s initiatives align with Ethiopia’s renewable energy agenda
Ethiopia’s larger plan to use renewable energy, especially solar power, to achieve its development objectives aligns with Dashen Bank’s initiatives. The International Solar Alliance (ISA) and the Ministry of Water and Energy recently inked a deal to increase the number of solar mini-grid and solar park projects nationwide.
Ethiopia hopes to increase power generation, irrigation, and clean water supply through this partnership while fortifying financial and technological cooperation.
Ethiopia’s National Electrification Program 2.0, which combines off-grid solar solutions with grid expansion, aims to provide universal access to electricity by 2025.
Dashen Bank is using its solar initiative to reduce its environmental impact and become a leader in corporate sustainability.
Dashen Bank’s initiatives to manage climate-related risks
In June, Dashen Bank announced a comprehensive technical assistance programme with the European Investment Bank’s (EIB) backing. The programme aims to improve the bank’s ability to promote sustainable financing practices and manage climate-related risks.
Dashen Bank’s CEO, Ato Asfaw Alemu, highlighted in his introductory remarks that banks now play a role that extends beyond conventional lending and deposit mobilisation. He stated that for banks to participate actively in climate finance, they must incorporate environmental risks into their decision-making procedures.
Additionally, Ato Asfaw emphasised the need for contemporary banks to spur green investments that promote environmental sustainability and long-term economic growth.
In partnership with the European Investment Bank, he reaffirmed Dashen Bank’s commitment to increasing funding for climate-resilient, inclusive, and green projects, especially in fields like sustainable agriculture, renewable energy, and environmentally friendly infrastructure.
Dashen Bank understands that tackling climate change and its possible effects on its operations, clients, and the larger Ethiopian economy is vital.
This program shows the bank is dedicated to integrating climate resilience and environmental sustainability in its primary business operations.