CLIMATE CHANGE

Business people urged to support viable green projects

They need to adopt transformative practices that inspire collective efforts towards a greener, more equitable future

In Summary

• The 19th Kenya Entrepreneurs Conference on Trade and Development (KENCTAD) conference focused on issues concerning environmental, social and governance (ESG) as well as sustainability comes at a time when there are grappling concerns about climate change.

Illustration of green banks
Illustration of green banks
Image: HOPE MUKAMI

Enterprises should partner with local businesses to come up with sustainable solutions that will positively impact climate change, according to experts at a Nairobi trade forum. 

Speaking at the 19th Kenya Entrepreneurs Conference on Trade and Development (KENCTAD) conference, experts said that non-financial support for SMEs will go a long way to drive up sustainable change. 

Absa’s head of sustainability Charles Wokabi said stakeholders in the business support environment as well as the government play a big role in assisting enterprises to grow comprehensively. 

“We can give them the money, yes, but we also have to work with them meticulously on the non-financial aspects of business,” he said. 

“This may include environmental sustainability that positively impacts their business and the society, handling human resources, taxes, and even finding the right talent so that the business will thrive.”

“The Kenyan entrepreneur is very resilient and that is how our economy is still standing till today but they need the support to grow and become successful not only for today but many years to come."

The conference which focused on issues concerning environmental, social and governance (ESG) as well as sustainability comes at a time when there are incresed concerns about climate change.

The event which was held in line with the Africa Climate Summit served as a call to action to entrepreneurs to adopt transformative practices that inspire collective efforts towards a greener, more equitable future.

KENCTAD ESG lead Sebastian Ngida said the government needs to initiate innovative solutions as well as align capital with meaningful enterprises that drive trade and development towards a more equitable and resilient path

“By channeling investments into sustainable businesses, responsible investors actively contribute to trade and development that benefits the society in the long run,” he said.

“In today’s ever-evolving world, where ESG considerations are integral to business and development, exploring innovative solutions, nurturing collaboration, and driving sustainable practices across industries is vital.”

Kenya Provate Sector Alliance program manager Ebenezar Amadi said impact-driven businesses illuminate the path to a world where prosperity and the well-being of the planet co-exist harmoniously.

“This is a pivotal platform for private sector leaders, visionaries and change-makers to unite and explore the forefront of sustainable business approaches,” Amadi said.

“Through such a forum, we foster ESG strategies that will shape the future of commerce and drive positive societal and environmental impact.”

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