NCBA Group has committed to mobilise Sh30 billion for green and sustainable financing by 2030.
The commitment sets the stage for NCBA in preparation for the Africa Climate Week (ACW) 2023, which will take place on September 4-8, in Nairobi.
The group has identified sustainability as one of its priorities and has set 15 ambitious commitments by 20230; notably to grow 10 milliontrees through strategic partnerships with private actors and government.
It is also backing the full elimination of single-use plastic, ensuring 100 per cent waste recycling, greening its supply chain and investing significantly in deploying EV charging stations across the region.
Speaking during the unveil, NCBA Group managing director John Gachora noted that the bold commitment will catalyse the Group's action towards a greener and more sustainable future.
“Our enhanced and bolder commitments recognise 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 per cent 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 recognises, that catalysing change begins with empowering the public and its customers with knowledge on how to take action,Gachora said.
As such, it has committed to investing in building a “Change the Story” knowledge digital platform and mobilising 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 Sh100 million annually to support this initiative.
Gachora said: “Beyond the climate change agenda, the Group has committed to steering at least 30 pr cent 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 on Friday 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 recognising that a sustainable future starts by doing good today,” Gachora said.
