AIICO Insurance: Championing sustainability with nationwide recycling initiative

When corporate boardrooms begin to think beyond balance sheets and embrace the responsibility of safeguarding the planet, society takes a bold step towards sustainability. This is the story unfolding at AIICO Insurance Plc, one of Nigeria’s foremost insurers, which has launched a recycling initiative that transcends corporate responsibility and speaks to the heart of community and environmental resilience, writes JOSEPH INOKOTONG.

THE AIICO Insurance Plc, a corporate giant turns green programme, arguably, could be described as the first of its kind in Nigeria.

In the closing months of 2024, AIICO Insurance unveiled the Recycling at AIICO Project, a programme aimed at reducing non-biodegradable waste, instilling a culture of sustainability, and promoting responsible consumption within its workforce. What may appear on the surface as a simple recycling effort carries a much deeper significance for corporate Nigeria and the wider society.

The initiative reflects a growing recognition that business success is not defined by financial returns alone, but also by how companies impact the environment and contribute to solving urgent global challenges such as climate change, pollution, and unsustainable consumption. By weaving environmental stewardship into its operations, AIICO is signalling that environmental responsibility is no longer an afterthought but an essential pillar of modern business practice.

The project links business to global sustainability goals, and firmly aligned with the United Nations Sustainable Development Goals (SDGs), particularly Goal 12 on Responsible Consumption and Production and Goal 13 on Climate Action. These goals underscore the urgency of rethinking how societies produce, consume, and manage resources to protect the environment for present and future generations.

AIICO’s recycling initiative embodies this call to action. By introducing waste segregation practices, encouraging reuse, and partnering with professional waste managers, the company is creating a model that other corporates in Nigeria can replicate. More importantly, it demonstrates that aligning with the SDGs is not just a theoretical commitment but a practical, measurable one.

From the pilot stage to nationwide rollout, the project’s journey began at AIICO’s Ikeja office in Lagos, where a pilot phase was implemented in late 2024. The results were encouraging: employee participation was strong, and the office recorded measurable improvements in how waste was managed and recycled. With the pilot’s success, AIICO is now extending the programme to all its offices nationwide. Clearly labelled bins for plastics, paper, and general waste have been introduced, while staff are being educated on how to separate and dispose of waste responsibly. Through a partnership with Wecyclers, a leading Nigerian waste management company, the recyclable materials are collected and processed, ensuring that waste does not end up clogging drainage systems or polluting the environment. This system not only supports cleaner office environments but also addresses Nigeria’s broader waste management crisis, where poor disposal habits contribute to flooding, public health hazards, and environmental degradation.

The project aims at changing mindsets in the workplace. One of the most significant elements of the Recycling at AIICO Project is its focus on behaviour change. For decades, recycling has struggled to gain traction in Nigeria due to cultural attitudes, lack of infrastructure, and limited awareness of its importance. By embedding recycling into its workplace culture, AIICO is tackling the problem at its roots – changing how people think about and interact with waste.

Mrs. Abimbola Shobanjo, Corporate Responsibility and Sustainability Manager at AIICO Insurance Plc., explained it succinctly: “The Recycling at AIICO Project demonstrates that growth and sustainability can go hand in hand. We are intentional about reducing our environmental footprint and showing that business success is not defined by profit alone, but by the positive legacy we leave behind for future generations.” Her words highlight the long-term vision of the project. It is not about ticking a box for corporate social responsibility, but about nurturing a generation of employees who will carry the values of sustainability into their communities and homes.

Its significance for the society is enormous. The importance of such an initiative to Nigerian society cannot be overstated. Waste management remains one of the country’s most pressing urban challenges. Cities like Lagos generate thousands of tonnes of waste daily, much of it plastic, which takes hundreds of years to decompose. Inadequate collection and disposal systems mean that much of this waste finds its way into drainage channels, rivers, and ultimately the ocean, harming ecosystems and exacerbating flooding during rainy seasons.

By promoting recycling, AIICO is not only reducing its own footprint but also contributing to broader societal efforts to tackle these challenges. It sets an example of how private sector involvement can complement government action and grassroots efforts in building a cleaner, healthier environment.

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Moreover, by partnering with Wecyclers, the project also has an economic angle. Waste management and recycling can create jobs, support small businesses, and provide livelihoods for waste collectors and processors. In this way, the initiative supports both environmental sustainability and economic inclusion.

Also, the project aims at creating transparency through ESG reporting.

AIICO has gone a step further by integrating the project into its Environmental, Social, and Governance (ESG) disclosures. By tracking waste data, reporting progress, and setting measurable goals, the company ensures that its recycling efforts are not symbolic gestures but part of a transparent, accountable system. This approach aligns with global best practices where investors, regulators, and customers increasingly demand to see concrete evidence of how companies manage environmental risks. By embedding recycling into its ESG reporting, AIICO is strengthening its reputation as a forward-thinking insurer and enhancing its attractiveness to socially conscious investors.

The gesture points to a broader shift in corporate Nigeria. The Recycling at AIICO Project also reflects a broader shift underway in Nigeria’s corporate landscape. More companies are beginning to embrace sustainability not just as a public relations tool, but as a core business strategy. From banks financing renewable energy projects to manufacturers reducing carbon footprints, there is a growing awareness that the future of business is intertwined with the future of the planet.

AIICO’s project is particularly significant because insurance companies play a unique role in society; they manage risk. Climate change and environmental degradation are some of the greatest risks of our time, threatening property, health, and livelihoods. By addressing these risks directly through sustainability initiatives, AIICO is aligning its business with its broader mission of protection and risk management.

Beyond the office walls, the ripple effects are immeasurable. Although the recycling project is workplace-focused, its impact is expected to ripple beyond AIICO’