KCB Group has deepened its leadership in sustainable finance, screening loans worth KSh 578.3 billion for environmental and social risks and disbursing KSh 53.2 billion in green loans during the past year.
This brings the total amount assessed under the bank’s Environmental and Social Due Diligence (ESDD) framework since 2020 to over KSh 2.5 trillion, reinforcing KCB’s role in driving Kenya’s green transition.
The 2024 KCB Group Sustainability Report, launched on Tuesday, highlights the bank’s continued investment in clean energy, climate adaptation, and inclusive development. The bank’s green portfolio grew to 21.3 percent from 15 percent in 2023, supporting projects in renewable energy, the blue economy, e-mobility, and sustainable infrastructure. Nearly half of the KSh 53.2 billion in green loans, valued at KSh 24.1 billion, was verified using the Climate Assessment for Financial Institutions (CAFI) reporting tool, enhancing transparency and accountability.
KCB Group CEO Paul Russo said the bank’s mission goes beyond profit, aligning with global efforts to protect the planet and empower people. “The conversation today must be aligned to how we safeguard the Planet and People even as we pursue Profits,” he said. He added that the private sector has the resources and expertise to drive sustainable growth while ensuring long-term economic viability.
Last year, KCB Bank Kenya also secured KSh 69 million from the Green Climate Fund’s Project Preparatory Facility, part of a broader effort to mobilize KSh 15.5 billion for sustainability projects expected to benefit more than 100,000 small and medium-sized enterprises.
KCB Group recorded a 4 percent reduction in resource consumption and offset 1.3 metric tonnes of carbon through the planting of over 1.38 million trees. The bank’s sustainability report, the only one by a Kenyan financial institution to undergo limited assurance by Deloitte, aligns with IFRS S1 and S2 standards ahead of the 2027 global reporting deadline.
Dr. Eng. Festus Ng’eno, Principal Secretary for Environment and Climate Change, commended KCB’s leadership, noting that finance plays a vital role in enabling climate-smart agriculture, renewable energy, and green enterprise development.
KCB Group’s broader transformation agenda also includes empowering youth, women, and small businesses through inclusive finance and capacity-building programs that create jobs and drive Kenya’s sustainable economic growth.
The 2024 KCB Group Sustainability Report is available for download here.
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