GREEN ECONOMY

Absa Bank becomes first bank to join Kenya Green Building Society

The bank has invested approximately Sh34 million in retrofitting all its facilities to become water and energy efficient

In Summary
  • The bank has joined the society as a champion for initiatives that promote the green economy by reducing pollution and improving people’s lives.
  • Buildings and the construction process are responsible for 39 per cent of global energy related carbon emissions.
Jane Waiyaki-Maina - Head of Sustainability and Responsible Business Partnerships, Absa Bank Kenya Receives a certificate of recognition from Elizabeth Wangeci Chege - Chairperson, Kenya Green Building Society in recognition of their commitment to sustainable banking and business operation.
Jane Waiyaki-Maina - Head of Sustainability and Responsible Business Partnerships, Absa Bank Kenya Receives a certificate of recognition from Elizabeth Wangeci Chege - Chairperson, Kenya Green Building Society in recognition of their commitment to sustainable banking and business operation.
Image: COURTESY

Absa Bank Kenya PLC has been recognized as the first bank in Kenya to join the Kenya Green Building Society (KGBS).

The bank has joined the society as a champion for initiatives that promote the green economy by reducing pollution and improving people’s lives.

Presenting the certificate, KGBS Chairperson Elizabeth Wangeci Chege said that she was proud to welcome Absa to the green building network.

The bank has invested approximately Sh34 million in retrofitting all its facilities to become water and energy efficient.

This will reduce its carbon footprint while bringing down energy costs by up to 30 per cent or Sh20 million annually.

“We have replaced all our water dispensers with eco-friendly ones, helping us reduce plastic within our working environment and therefore reduce our carbon footprint in relation to plastic use by 56 per cent,” said Jane Waiyaki, Head of Sustainability and Responsible Business Partnerships, Absa Bank.

“In partnership with Kenya Green Building Society, all our buildings – comprising 85 facilities - have been assessed for efficiency in terms of energy, water and building materials, using the IFC Edge tool,” Waiyaki added.

Buildings and the construction process are responsible for 39 per cent of global energy related carbon emissions.

The bank is also partnering with select SMEs to recycle rebranding waste including marketing collateral and metallic and plastic waste to produce school bags, film equipment and fencing posts.

Additionally, all gently used electronic waste generated from the brand name change will be refurbished and used to set up 66 computer labs in various institutions across the country.

Last October, the bank became a signatory to Principles for Responsible Banking at a group level and signed up to the United Nations Global Compact principles locally.

This recognition comes hot on the heels of the annual World Green Building Week, a campaign by the World Green Building Council that seeks to empower the delivery of greener buildings globally