High ESG Scores, High Emissions? What Zenith Bank’s Data Shows

Zenith Bank ranks highest among Nigerian banks in the IPMC ESG Ratings 2025, reflecting strong performance across key sustainability indicators. Yet its disclosures highlight an important challenge identified in IPMC Analytics: high ESG scores do not always translate into full climate transparency or a low operational footprint.Zenith reports that greenhouse gas emissions at its Head Office reached 17,082.2 mtCO₂e in 2024, representing a 5.49 percent increase from 2023.The bank also discloses substantial operational energy use, including 12.4 million kWh of electricity purchased and over 1.14 million litres of diesel consumed in a single year.Beyond operational metrics, Zenith acknowledges that climate-related factors are already affecting Nigeria’s broader economic environment,...