AIB pledges €1.25m to fund chair of sustainable business at UCC

'Green lending' has proven the most resilient during the Covid-19 pandemic according to AIB's chief executive

Professor John O’Halloran, Interim President, UCC and Colin Hunt, CEO, AIB pictured together in the grounds of UCC Cork to announce a partnership which will see the bank fund  Picture: JULIEN BEHAL PHOTOGRAPHY

AIB has pledged €1.25 million over five years to fund The AIB Chair of Sustainable Business at University College Cork.

The AIB Chair of Sustainable Business will be the first of its kind in Ireland and will be based in the Cork University Business School (CUBS), Ireland’s largest business school.

The funding will also be used to support The AIB Sustainable Business Scholars programme which will be established for early career researchers who excel in their field.

AIB said the establishment of the Chair comes at a time of expected increased demand from employers for graduates with a broad knowledge and understanding of sustainable business practices.

Colin Hunt, AIB chief executive officer, said, “We are aligned with UCC’s vision to educate and guide business leaders who can balance environmental, social and governance goals with the ambition of delivering sustainable profits.” 

“Managing climate change is the most important challenge facing this generation, and the role of businesses in supporting the transition to a low-carbon economy is pivotal.” 

“Green lending is proving to be the fastest-growing part of our loan book and has also proven the most resilient during the Covid-19 pandemic, underscoring that sustainability is also smart business."

An international recruitment process is to commence for the Chair who will “drive innovative research in the field of sustainability, develop sector-leading new post-graduate programmes in sustainable business and who will work together with business seeking to drive sustainability across their organisation.” 

Speaking about the donation Professor John O’Halloran, Interim President, UCC said: “A decade ago we charted a course to be a world-leading university in the area of sustainability.

“We must inspire the leaders who can shape our future for the better and at UCC we are driving research that assists our transition to a low carbon economy."

!We are incredibly grateful to AIB for this generous gift which will facilitate the development and empowerment of future leaders in sustainability through the university’s research, teaching and learning activities.” 

UCC recently announced it would invest €110 million in a new business campus located in the heart of Cork city centre.