UDB MD Patricia Ojangole Wins 4th Global Award for Leadership in Sustainability

Kampala, 27th November 2024: Uganda Development Bank’s Managing Director, Patricia Ojangole, has, for the fourth year running, won the Sustainability Leader of the Year Award at the prestigious Annual Karlsruhe Sustainable Finance Awards.

UDB and its Managing Director were awarded the Sustainability Leader of the Year Award for demonstrating exceptional leadership in mainstreaming sustainability and making a recognizable impact.

In his citation, Arshad Rab, Chairman of the International Council of Sustainability Standards for Value-Driven Financial Institutions, said, “The performance of the winner in this category is monitored and assessed around the year. It requires exceptional leadership throughout the year to drive sustainability within the organization and make a recognizable impact. This is an uphill task, which Patricia Ojangole performed outstandingly.”

“Ojangole demonstrated a solid track record over the past 12 months in embracing and promoting sustainability and gained respect from her peers and colleagues globally. We congratulate her for this well-deserved recognition and applaud her for once again challenging the status quo and working with determination to achieve social, economic, and environmental sustainability in her organization and country,” the citation reads in part.

The Sustainable Finance Awards recognize financial institutions that successfully embed economic, social, and environmental sustainability into their organizational culture. They also honour organizations that have made outstanding contributions to sustainable finance and recognize CEOs who have distinguished themselves as leaders in sustainable banking and finance.

Commenting on the achievement, Ojangole said, “It is an honour to receive this acclaimed recognition for the fourth consecutive time. This Award affirms sustainability is integral to UDB’s strategic direction.”

In delivering on its mandate to support enterprises that align with Uganda’s development agenda, UDB is keen on engendering holistic sustainability.

The Bank was also granted the Sustainability Certification for adapting the Sustainability Standards Version 2.0. It received compliance level 5, which represents the highest level of compliance achieved.

“Sustainability Certification under the Sustainability Standards and Certification Initiative (SSCI) clearly demonstrates UDB’s commitment to create a positive impact on society, the economy, and the environment and meet and exceed the needs of all our stakeholders,” Ojangole added.

“This achievement is a testament to UDB’s strong governance structure for delivering social, economic, and environmental sustainability and taking climate action through its financial and non-financial services. By excelling in adapting the holistic standards and undergoing a rigorous compliance process, the UDB has built strong organizational capacity in mobilizing, lending, and investing funds for high sustainable impact,” Mr Rab said.

“It is a major milestone for UDB and positions the Bank as a key player in creating an inclusive, green, and sustainable Ugandan economy,” Mr Rab added.

UDB has remained steadfast in upholding environmental standards and continues to adopt several ecological risk management strategies and tools. These strategies and tools identify, assess, and prioritize enterprises demonstrating a solid commitment to environmental sustainability and monitoring their operations throughout their lifecycle.

“This latest recognition solidifies UDB’s unique position as a Version 2, Level 5- sustainability certified institution. We commit to continually uphold the SSCI sustainability principles in our operations while providing a platform for peers to collaborate, share insights, and align efforts towards common objectives,” Ojangole concluded.