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KCB Group commits more funds to manage climate change

KCB Group received loan applications totally Sh268 million from individuals and groups keen on mitigating environmental risks in their business operations.

The amount accounts for 70 per cent of the lender’s loan book which stood at Sh385.7 billion

In a press statement, the bank said it is planning to channel more green funds in micro-lending to further deepen its contribution towards reducing the impact of climate change. The bank said it has now fully integrated its Environmental and Social Management System (ESMS) into the lending process, for facilities to corporate and small and medium-sized enterprises (SME) clients, further aligning key business operations with the KCB’s Sustainability Agenda.

KCB Group chief executive Joshua Oigara (pictured), said businesses with effective strategies towards reducing environmental impact in their operations would be better positioned to benefit from the bank’s green financing initiative.

The lender announced it is planning to partner with other industry players to raise green bonds in addition to the one launched by the Kenya Bankers Association (KBA) and the Nairobi Securities Exchange (NSE) in April this year.

The lender said it is also looking at raising funds from the Global Climate Fund.

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