For a second year, the Republic Group has been named as the Best Corporate Governance ‘Financial Services’ Institution in the Caribbean by Ethical Boardroom.
Republic Financial Holdings Limited (RFHL) received this award for the first time in 2019, demonstrating that the Group continues to set the tone of good governance by adopting measures that raise the level of awareness and practices in the organization which drive value creation and long-term growth.
According to a press release from the bank, Ethical Boardroom, a London-based magazine and website, known for their critically acclaimed analysis of global governance issues, published the award in their December 2021 magazine. This honour recognizes that RFHL is an industry leader in the adoption and execution of corporate governance best practices.
Commenting on the award, President and Chief Executive Officer of RFHL, Nigel Baptiste said: “This award recognizes our dedication to excellence, accountability, fairness and transparency in all interactions with our stakeholders. It also demonstrates the Group’s professionalism, ethical behaviour and adherence to global best practices and standards, all of which can be attributed to management and staff collaboration.”
This award comes on the heels of an outstanding year for the Group, which has been heavily involved in climate financing while also being a driving force for a sustainable future in the region. The Republic Group signed on to the Principles of Responsible Banking (PRB) in 2020; the first signatory in the English-speaking Caribbean. Notable projects that the Group were involved in include:The Entrepreneurs Business Builder (EBB) Programme for Women, and partnering with the Ministry of Education and Pennacool.com for the “Adopt-A-School” Programme where tablets and laptops were distributed to schools/children to facilitate online learning.
Subsequently, the Group joinedthe Net Zero Banking Alliance (NZBA), a global agreement in which financial institutions commit to having zero net carbon emissions by 2050. As part of the NZBA, the Group has also pledged US$200 million to climate financing initiatives.
In November 2021, the Republic Group and New Energy hosted the first Caribbean ESG (Environmental, Social and Governance) and Climate Financing Summit with the aim of bringing together Caribbean borrowers, lenders and investors and act as a catalyst in the creation of a new financing ecosystem. The Republic Group is honoured to be bestowed with such a prestigious award and will continue in all our efforts towards a better tomorrow.
