Sustainable Finance conference hosted in Nairobi Kenya

Sustainable Finance conference hosted in Nairobi Kenya by the Kenya bankers Association and partners:

Banks and related financial institutions today have a duty to ensure that they fund sustainable projects including smart agriculture, green energy, related Eco friendly activities & initiatives and environmental rehabilitation projects including growing of trees and greening of the environment.

Currently, it has dawned on many people and institutions including governments that we are abusing our natural environment by carelessly extracting natural resources without respecting our mother earth and giving back to Her. …. Clarion calls today abound on the essence of treating our environment with decency and respect. 

These were among some of the issues discussed at the Sustainable Finance Initiatives (SFIs) & the inaugural SFIs catalysts Awards event on Nov 20th, 2024 at a Nairobi hotel.

The critical theme was that sustainability in all spheres in life including for businesses holds the key to the promise that the future will happen and ensure prosperity for posterity. 

Organized by the Kenya Bankers Association (KBA) in partnership with the International Finance Corporation (IFC), the World Worldwide Fund (WWF) & GIZ, the event was characterized by intense and interesting discussions including presentations, keynote speeches and panel discussions. 

IFC revealed that it assisted KBA in debuting into the sustainability journey in 2015 when the Sustainability Finance Principles (SFPs) were crafted.

It has been a journey and the principles have been enhanced as shown in the reviewed and updated SFPs report also unveiled at the event.

Many banks and financial institutions including giants banks such as ABSA, KCB, Cooperative Bank, National Bank of Kenya, NCBA, DTB, I&M, the Kenya Women Finance Trust (KWFT- a micro finance bank that greatly supports women) and DIB Bank among others were some of the awards winners. The awards were given in over 10 operational areas. Notably, the DIB Bank was recognized and awarded as the most improved bank. 

Discussants, delegates and guests heard that financial institutions must focus on funding projects that promote growth and nourishment of the environment and other viable businesses which must also respect mother earth.

Innovation among financial institutions was emphasized.

Raising of funds to sustain eco-friendly projects including the launching green bonds, lion & rhino bonds and Biodiversity bonds were mentioned as some of the innovative initiatives founded in the different parts of the world to raise sector specific conservation funding for instance for the saving endangered animals & animal/creatures species such as lions and rhinos and equally endangered Biodiversity.