NCBA Group has committed to mobilise Ksh30 billion 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 4th-8th 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 invest significantly in deploying EV charging stations across the region.
NCBA Group Managing Director John Gachora noted that the bold commitment will catalyze the group action towards a greener and more sustainable future.
“Sustainability is not a new concept to the NCBA group,” Mr Gachora said. “As a brand we have always lived by the premise that our license to operate comes from the communities we serve.
He said NCBA Group’s 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” Mr Gachora said.
The bank, controlled by the family of former President Uhuru Kenyatta, 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.
He said the Group also 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 Ksh100 million annually to support this initiative. “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,” he Mr Gachora said.
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. “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,” he said.