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Moderating Kenyan Bankers’ Initiative for Sustainable finance

Our role

Because of our track-record in emerging market finance Steward Redqueen was selected as the moderator for the CEO Roundtable. Not only did we contribute to the preparations and the content of the meeting by creating a survey which guided the Roundtable discussion, we also gave a presentation and moderated the CEO dialogue. The CEO round table discussion was facilitated by KBA and UNEP Finance Initiative (UNEP-FI) and co-funded by the development finance institutions DEG and FMO.

The result

In line with the Kenya's long-term development plans as outlined in the Government's Vision 2030, the KBA member banks agreed to support efforts towards making Kenya's banking industry more globally competitive. With economic, social and political pillars, Vision 2030 reflects some of the main challenges that Kenya currently faces. These challenges include sustainable economic growth, financial inclusion, but also environmental degradation, climate change, social exclusion and resource scarcity. Therefore the proposed Sustainable Finance Initiative coordinated by KBA on behalf of its member banks would be tasked with developing recommendations, which will include proposals on capacity building and the creation of Sustainable Finance Guiding Principles that are customised for the Kenyan context. Setting up this initiative is a first step in a process that will make Kenya part of a growing group of emerging countries where banks and governments are creating sustainable-finance frameworks and incentives.

 

The contribution of Steward Redqueen was much appreciated. Their expertise in sustainable finance, as well as their involvement in similar initiatives, provided the necessary background to moderate the CEO dialogue. Integrating sustainability in finance is very complex, especially when having such ambition across the industry. It is then very helpful to avoid loopholes and have a process which is as smooth as possible. Working with Steward Redqueen helped us to achieve the goals we had set for the Roundtable meeting.
Mr. Habil Olaka
KBA Chief Executive Officer