Kenyan Sustainable Finance Initiative
We moderated the CEO Roundtable for the Kenyan Bankers’ Initiative for Sustainable finance
The Kenyan banking industry, through their umbrella body the Kenya Bankers Association (KBA) decided to create a joint initiative that promotes best practice in sustainable finance; the KBA Sustainable Finance Initiative. The iniative would explore opportunities for industry alignment while building industry wide capacity in the area of environmental and social risk management.
Steward Redqueen was selected to moderate the CEO Roundtable meeting. And following the roundtable, we helped develop the strategic framework of Sustainable Finance Guiding Principles that are customised for the Kenyan context.
Based on these principles and 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 by addressing the challenges the country is facing such as sustainable economic growth, financial inclusion, but also environmental degradation, climate change, social exclusion and resource scarcity.
Setting up this initiative was 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.