We have deployed Kes 60 billion across sustainable investment, financing, and our operation activities to help accelerate climate transition and advance inclusive growth. We aim to double this by 2025. In 2023, we were crowned the best Bank in Sustainable Finance in Kenya by Kenya Bankers Association Sustainable Finance Catalyst Awards.
Net zero carbon commitment
- We continue to work to not only reduce our carbon footprint as a business, but also develop innovative climate finance products to support our clients on their transition journey.
- We have completed mapping of our carbon Emissions and through our energy efficiency initiatives and retrofits, we have managed to reduce our carbon emissions by 6,000 metric tonnes of carbon.
- We are planting Mangroves in Coastal Kenya at two sites; Bidii Creek in Jomvu Kuu Area, Mombasa and Majoreni Beach Management Unit in Kwale. We are engaging more partners to realize our target of planting 1 million.
Enhancing our forest cover
- We are committed to support the Kenyan Government initiative of increasing forest cover. We commit to plant 10 million trees.
- We have currently planted approximately 1 million trees across the country with various partners. We will be increasing these targets annually the coming years to realise our target.
- This initiative is in line with the bank’s renewed sustainability agenda. The tree planting projects are undertaken in partnership with the Ministry of Environment and Forestry in support of the 15 billion trees by 2032 national agenda.
Green building certification
In September 2020, we became the first bank in Kenya to join the Kenya Green Building Society as a champion for initiatives that promote the green economy by reducing pollution and improving people’s lives while fostering economic growth. We invested approximately KES34 million in retrofitting all our facilities to become water and energy efficient with an aim to bring down energy costs by up to 30%, which is approximately KES20 million annually. Our 5 buildings have received IFC EDGE certification in 2022. This include WestEnd Headquarters, Bishopgate Head Offices, Queensway branch, Nkrumah Road, Mombasa branch, and Kisii branch. We plan to roll out this to all our Absa buildings.
Reducing negative impact
One of the key resources consumed in all buildings is water. We chose to replace existing water dispensers with water purification units which are eco-friendly. These units eliminate the storage and removal of plastic bottles from our workspace. The elimination of the collection and delivery of large plastic water bottles furthermore reduces our business’ carbon footprint.
Partnerships
- Sustainable banking practices have always been part of our culture, and we invest in strategic partnerships with global organisations to stay abreast of international best practices.
- We are also aligned with key international bodies, such as Sustainable Finance Initiative, UN Global Compact, and Women’s Empowerment Principles.
Need more help?
Call: +254 (722) 130120 or +254 (732) 130120
Email: absa.kenya@absa.africa
