The Co-operative Bank of Kenya has scaled up its climate change initiatives by embarking on an enhanced Environmental, Social and Governance (ESG) roadmap to integrate ESG considerations into its operations.
The bank is playing an active role in supporting climate change initiatives that are being led by its regulator Central Bank of Kenya and the industry lobby group Kenya Bankers Association.
“Co-op Bank has the highest capacity-building rate in Kenya Bankers Association Sustainable Finance Module XII on Climate Risk,” the bank said.
The lender stated that in line with Sustainable Development Goals (SDG) number 13 ‘Take urgent action to combat climate change and its impacts’, it has embarked on a Climate Risk Project with the aim of formulating an effective Climate Strategy Roadmap and Implementation Plan to chart a clear path towards our climate goals.
The bank, in partnership with Water.org, also launched a new Co-op-a-maji loan aimed at supporting Businesses within the Water, Sanitation & Hygiene (WASH) sector.
“This is in line with our ESG focus, enabling communities access safe water and sanitation.
“The facility targets individuals, water bottlers & distillers, licensed borehole drilling companies, water service providers, manufacturers and distributors of water harvesting equipment,” the lender stated.
At the same time, Co-op Bank Foundation, the Group’s social investment vehicle, continues to provide S\scholarships to gifted but needy students from all regions of Kenya.
The sponsorship includes fully paid secondary education, full fees for University education, Internships, and career openings for beneficiaries.
The foundation is fully funded by the bank and has supported 11,703 students since the inception of the program.
