Accra: The Group Chief Executive Officer of GLICO Group, Edward Forkuo Kyei, has announced that the company has reduced its energy costs by approximately 60 percent through strategic investments in sustainability initiatives, including solar energy and electric vehicles. The insurance and financial services firm is committed to a long-term sustainability agenda aimed at promoting growth while creating value for stakeholders and the environment.
According to Ghana Web, GLICO's recent launch of its Environmental, Social and Governance (ESG) initiatives is a testament to its dedication to integrating these principles into its business operations for long-term growth and resilience. Speaking at the launch, Forkuo Kyei emphasized that sustainability is now a core part of GLICO's vision and operations.
"We are very much aware of companies that have existed for more than 100 years and beyond. It is always important to understand what they have done and to build on it," stated Forkuo Kyei, highlighting GLICO's ambition to build a sustainable business that remains relevant for generations.
He explained that the company has deliberately created structures and policies that support long-term growth while ensuring that stakeholders benefit from its operations. Transparency remains a key pillar of GLICO's sustainability strategy, as emphasized by Forkuo Kyei, who noted the importance of all partners and stakeholders understanding the company's long-term commitment.
GLICO was among the early adopters of electric vehicles in Ghana, with the CEO proudly stating, "I can confidently say that we are one of the companies that started using electric vehicles as far back as 2021, when EVs were not popular." The company is also exploring additional renewable energy solutions, including wind energy technologies.
Internally, GLICO is implementing measures to reduce waste and cut costs. These include phasing out single-use plastic bottles and promoting the use of water dispensers across the organization, which are part of their efforts to protect the environment and generate cost savings.
"We have already indicated that, as a result of these initiatives, we have been able to save about 60 percent of our energy costs," Forkuo Kyei stated, noting the high cost of electricity and the substantial savings achieved. The company is also leveraging telemedicine services to save time and money for customers by reducing the need for physical consultations.
Forkuo Kyei concluded by emphasizing that sustainability is an ongoing journey, and the company will continue to explore innovative ways to improve efficiency while delivering value to customers and stakeholders.