Written By Lisa Murimi
In anticipation of Africa Climate Week (ACW) 2023 from September 4-8 in Nairobi, NCBA Group has taken a significant stride by committing to mobilize Sh30 billion for sustainable financing by 2030.
Recognizing sustainability as a core focus, NCBA has established 15 ambitious goals to achieve by 2030. Notably, the bank aims to plant 10 million trees in collaboration with private entities and government partners.
Additional commitments include eradicating single-use plastics, achieving full waste recycling, greening supply chains, and extensive deployment of electric vehicle (EV) charging stations across the region.
EV adoption, a vital step in curbing emissions, though cost-prohibitive, is being made accessible through innovative measures like kilometer-based financing and extended warranties.
The shift towards e-mobility aligns with NCBA’s broader objective of promoting green living and influencing the adoption of sustainable practices.John Gachora, NCBA Group’s managing director, emphasized that this commitment will drive the bank’s efforts towards a greener and more sustainable future.
“Our enhanced and bolder commitments recognise that climate change is a significant and pressing challenge not only globally but also locally… one only has to observe the effects the drought has had on the country’s economy to appreciate the urgency in taking action,” he said.. The urgency of addressing climate change’s local and global impact was underscored, particularly in light of recent drought-related economic challenges.
In its journey, NCBA plans to conduct a group-wide carbon audit this year, targeting a 50% reduction in direct emissions by 2030. Moreover, the bank aspires to align its financed emissions with the 2015 Paris Agreement.
To empower the public and customers with actionable knowledge, NCBA aims to build a “Change the Story” digital platform and engage its staff of over 3,000 to drive this initiative within their communities. The bank commits over Sh100 million annually to support community engagement.
Gachora highlighted NCBA’s commitment to diversity and inclusion by directing at least 30% of its general services procurement spend towards women and youth.Gachora said:
“Beyond the climate change agenda, the Group has committed to steering at least 30 percent of its general services procurement spend to women and youth to further promote diversity and inclusion at all levels of its operations.”
Demonstrating accountability, the bank signed the UN Global Compact, pledging to annually report its progress toward these commitments.
Gachora concluded by urging collective action towards creating a sustainable future through impactful actions today.
