Equity Group unveils its 2023 sustainability report

Equity Group has unveiled its third annual sustainability report for the year 2023, themed “A sustainable world is a transformed Africa.”

The report illustrates Equity's commitment to socio-economic and environmental transformation across its entire business.

The 2023 Sustainability Report shows Equity Group's proactive approach to driving positive change in society.

Speaking during the unveiling of the report, Equity Group managing director and CEO, James Mwangi noted that their business model encompasses a tri-engine approach with an economic, social, and a nature, and environmental focus.

“We have not only applied our efforts to realising social impact but also have a strong focus on environmental and nature stewardship,” he said.

“We understand that a sustainable future requires mindful consideration of our impact on the planet, and this report demonstrates how Equity is leading the charge in this effort.”

Chairman of Equity Group Isaac Macharia underscored the importance of the report in enhancing sustainable, socio-economic prosperity in Africa.

“We understand the important role we play both in the economy and society. We strongly believe that deepening sustainability is not just a moral imperative, but also critical for the long-term health of the business,” Macharia said.

The UN Under-Secretary-General and Director-General of the United Nations Office in Nairobi Zainab Bangura commended Equity for exemplifying how businesses can prioritise sustainability while achieving profitability.

“Sustainable development requires an integrated approach that considers both environmental concerns as well as social development,” Bangura said.

Equity Group’s sustainability approach comprises three main components.

The first component involves the promotion of environmentally friendly business operations in its offices and branches.

The second is a commitment to the continuous improvement of its business approach and market offerings to ensure they reflect best practices for Environmental, Social, and Governance criteria.

This includes offering sustainable finance, credit and investment products as well as continuing its long-standing practice of promoting financial inclusion, maintaining stringent ethical standards for all its operations and being a responsible employer.

The third is the recognition that deepening sustainability cannot be achieved by any single institution.

Equity aims to minimise overall waste generated and eliminate waste sent to landfills from all subsidiaries and subsequently branches across the region.

In 2023, the Group tracked waste generated in Kenya identifying various waste streams including glass, paper, metals, organic matter, plastics, medical waste, and e-waste.

Paper waste accounted for 72 per cent of the total waste generated, totalling 316 tonnes.

Some of the initiatives that were implemented to reduce waste generated include a reduction in printing through digitisation, engagement of e-waste recyclers, and usage of glass water bottles in place of single-use plastic bottles.

In 2023, the total water consumption in the Group totalled 57,235 cubic meters.

The Group continues to monitor and improve related data collection regarding this metric.

The Group is also implementing systems to reduce water use across its operations, reflecting its commitment to sustainable water management