KCB has launched its sustainability report in which the lender reports that it disbursed KShs. 53.2 billion in green loans, growing its green portfolio to 21.32% from 15% in 2023.
The support was extended to green products designed to foster energy transition, including initiatives in the blue economy, e-mobility, and climate change adaptation. Of the KShs. 53.2 billion, nearly half, KShs.24.1 billion has been verified using the Climate Assessment for Financial Institutions (CAFI) reporting tool, further enhancing
transparency and credibility.
At the same time, the Group allocated 7.5% of its supplier contracts, totalling KShs. 913 million, to businesses owned by special interests’ groups.
The report highlights the Bank’s significant strides in climate action, financial inclusion, and community development and in line with its ambition to create long-term value for stakeholders while supporting Kenya’s transition to a green and inclusive economy.
KCB Group CEO, Paul Russo said: “We committed to further aligning its interests with partner institutions to bolster economic development for the greater good for all. The conversation today must be aligned to how we safeguard the Planet and People even as we pursue Profits. The private sector has the opportunity, the manpower and the assets to enable our communities to thrive. While we are committed to making a positive impact, we have learned that sustainable practices should also be economically viable in the long run.”
Last year, KCB Bank Kenya secured a KShs. 69 million Project Preparatory Facility from the Green Climate Fund. This is a critical step in our broader pursuit of KShs. 15.5 billion in funding to advance our sustainability agenda and positively impacting the lives of over 100,000 micro, small and medium enterprises.
KCB Group is actively reducing its carbon footprint and improving operational efficiency, as evidenced by a 4% reduction in overall resource consumption. Through targeted conservation measures, the Group has offset a carbon equivalent of 1.3 metric tonnes of carbon equivalent. This success was largely driven by the planting and growing of 1,386,203 trees.
KCB Group’s inclusive transformation agenda is rooted on shared value geared towards tackling perennial societal challenges including youth unemployment, social inequity, and inadequate access to quality education. Through the KCB Foundation enterprise development programme, 2Jiajiri a total of KShs. 2.58 billion was disbursed as loans to
4,000 youth-owned MSMEs, 38% of which were women-led.
At the same time, 9,699 youths were equipped with critical business skills, supporting a total of 37,078 business, resulting in the creation of over 60,686 jobs and fostering a new generation of self-reliant business owners. The bank’s commitment also extends to increasing livestock productivity for Farmer Producing Organisations (FPOs) in Kenya’s ASAL counties through Mifugo ni Mali Programme which saw the uplifting of 1,119 poultry farmers and 913 blue economy entrepreneurs with market linkages and extension services