CERTIFICATION

Absa's energy efficiency investments get global recognition

The lender earned the recognition for integrating green building technologies in accordance with global standards.

In Summary

•The bank was honored with the International Finance Corporation's (IFC) Excellence in Design for Greater Efficiencies (EDGE) global Certification.

•The lender earned the recognition for integrating green building technologies in accordance with global standards.

Absa Bank Kenya PLC managing director Jeremy Awori celebrates with staff at the Sarit Centre branch during the official unveiling of the Absa brand in Kenya on February 10
Absa Bank Kenya PLC managing director Jeremy Awori celebrates with staff at the Sarit Centre branch during the official unveiling of the Absa brand in Kenya on February 10
Image: COURTESY

Absa Bank Kenya received global recognition for its investments in efficient energy and water.

The bank was honored with the International Finance Corporation's (IFC) Excellence in Design for Greater Efficiencies (EDGE) global Certification.

The lender earned the recognition for integrating green building technologies in accordance with global standards.

The bank, the first in Kenya to receive the award, has invested nearly Sh45 million in retrofitting its outlets, which include Nkrumah, Kisii, Queensway Branches, Westends HQ, and BiBusinessshops Gate Head Office.

Throughout the redevelopment process, the bank's branches and headquarters saw energy-efficient LED lights refitted, reducing the bank's carbon footprint significantly.

Additionally, the buildings now boast of water efficiency features such as low flow taps, dual or 6-litre single flush toilets, low flow urinals and eco-friendly bottle-less water dispensers installed.

These investments have reduced Absa's energy and water costs by up to 30 percent and 33 percent respectively, saving the bank up to KES25 million per year.

Speaking while receiving the certification on the sidelines of the 2022 East Africa Property and Investment (EAPI) Summit in Nairobi, Absa's head of sustainability, Jane Waiyaki, said the bank is purposefully realigning its business strategies with eco-friendly practices such as greening work spaces for long-term positive impact on the environment, health, and wellbeing of its emThe bank was honored with the International Finance Corporation's (IFC) Excellence in Design for Greater Efficiencies (EDGE) global Certification.​_ployees.

“As a responsible business, we are stepping up the efforts to complement the fight against climate change while achieving our goal of becoming a net zero organisation by 2040," Waiyaki said.

"This EDGE Certification is a demonstration of the progress we are making in our sustainability commitment. It also allows us to understand our clients and how we can support them through such a transition." Waiyaki.

A 2019 report by the International Energy Agency highlights the building and construction sector as a key contributor of greenhouse gases accounting for 40 per cent of energy-related carbon emissions and more than one third of energy consumption globally.

Green buildings thereby ensure reduced carbon emissions by adopting environmentally responsible practices and resource-efficient practices throughout a building’s life cycles - financing, planning, design, construction, operation, maintenance, renovation, and demolition.

In 2020, Absa Bank Kenya became the first financial institution to join the Kenya Green Building Society (KGBS), a non-state actor seeking to lead transformation of the built environment in Kenya towards environmentally sustainable buildings, promoting a healthy and efficient built environment to achieve environmentally, socially and economically progressive built environments.

The bank is also a signatory to Principles for Responsible Banking at a group level and signed up to the United Nations Global Compact (UNGC) principles through the Global Compact Kenya Network locally.