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NCBA Group Set To Mobilize Ksh 30 Billion For Green And Sustainable Financing

BY Soko Directory Team · August 25, 2023 09:08 am

NCBA Group has committed to mobilize 30 billion shillings for green and sustainable financing by 2030. The commitment sets the stage for NCBA in preparation for the Africa Climate Week (ACW) 2023 that will take place on 4-8 September 2023 in Nairobi.

The group has identified sustainability as one of its priorities and has set 15 ambitious commitments by 20230; notably to grow 10 million trees through strategic partnerships with private actors and government, fully eliminate single-use plastic, ensure 100% waste recycling, green its supply chain and investing significantly in deploying EV charging stations across the region.

Speaking during the unveiling, NCBA Group Managing Director John Gachora noted that the bold commitment will catalyze the Group’s action toward a Greener & M more Sustainable Future.

“Sustainability is not a new concept to the NCBA group, as a brand we have always lived by the premise that our license to operate comes from the communities we serve. Our enhanced and bolder commitments recognize that climate change is a significant and pressing challenge not only globally but also locally… one only has to observe the effects the drought has had on the country’s economy to appreciate the urgency in taking action,” he said.

To begin, the bank will complete a group-wide carbon audit this year and has set a 50% reduction target in its direct emissions by 2030. This target will be complemented by commitments to reduce its financed emissions to align with the 2015 Paris Agreement.

The Group recognizes, that catalyzing change begins with empowering the public and its customers with knowledge on how to take action. As such, the Group has committed to investing in building a “Change the Story” knowledge digital platform and mobilizing the bank’s over 3,000-strong staff to drive the initiative in their respective communities. The Group will drive community engagement, by deploying over KES 100 million annually to support this initiative.

Mr. Gachora said, “Beyond the climate change agenda, the Group has committed to steering at least 30% of its general services procurement spend to women and youth to further promote diversity and inclusion at all levels of its operations.”

To demonstrate its commitment and objective to be held accountable by the public, the Group today signed up to the UN Global Compact and will report annually on its progress towards these commitments.

Mr. Gachora closed by stating, “I urge all of us to take up the call of Changing the Story and recognizing that a sustainable future starts by doing good today.”

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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