Co-operative Bank was named the overall winner at the Kenya Bankers Association (KBA) 2024 Sustainable Finance Catalyst Awards for the fifth time in seven years, having also won the overall title in 2017, 2019, 2022 and 2023.
The awards aim to highlight financial institutions that demonstrate a commitment to sustainable finance, which positively impacts the financial sector, the economy, and society at large.
Sustainable finance encompasses a range of financial services that promote investments in projects and companies that have positive environmental and social impacts.
This includes funding for renewable energy, sustainable agriculture, and social enterprises, among others. The awards recognize institutions that practice sustainable finance which has a direct positive impact on the financial sector, the economy, the environment and the society at large.
Businesses were appraised on whether they had covered the essential indicators which included the impact on the Gross Domestic Product (GDP), the growth of the business, job creation and support of minority groups including women and the youth.
Receiving the award, Co-operative Bank Group MD Gideon Muriuki said sustainability is fully integrated into the bank’s business model and stands on the three pillars of economic sustainability, social sustainability and environmental stewardship.
“As a bank that is predominantly owned by the 15 million-member Co-operative movement that is represented in all regions of the country, we are inclusive by design, which has enabled us to not only deliver shared prosperity today but also helped us build an awareness and prudence to avoid participation in commercial activities that risk putting future generations in jeopardy.”
The growing recognition of sustainable finance in Kenya reflects a global shift towards more responsible investment strategies, with banks playing a crucial role in steering capital towards projects that support sustainable development and mitigate climate risks.
Absa Bank Kenya was recognised for its progress in creating long-term value for its clients.
“This is a clear demonstration of our
dedication to this call but more so the
trust of our customers and communities that we serve,” said Absa Bank
head of Sustainability and Corporate
Affairs Charles Wokabi.
