KCB Bank disbursed Ksh.53.2 billion in green loans in 2024 for projects which focused on clean energy, e-mobility, the blue economy, and climate change adaptation across Kenya.
According to the bank’s 2024 Sustainability Report, KCB’s green loan portfolio to 21.32 percent of its total lending, up from 15 percent in 2023.
The report also said 7.5 percent of KCB’s supplier contracts valued at Ksh.913 million were awarded to businesses owned by special interest groups, including youth, women, and persons with disabilities (PWDs).
It provided, as part of a sustainability initiative, Ksh2.58 billion in loans to 4,000 youth-owned MSMEs through its 2Jiajiri programme, with women leading 38 percent of these enterprises.
This, the bank said, contributed to the creation of over 60,000 jobs through a combination of skills training and enterprise development support, reflecting its deepening commitment to inclusivity and equitable access within its procurement and financing practices.
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“Green financing is not just an environmental imperative, but a social one,” said KCB Group CEO Paul Russo at the launch of the report. “By allocating meaningful support to youth, women, and PWD-owned firms, we deepen our commitment to inclusive growth while scaling climate action.”
The bank also screened loans worth Ksh.578.3 billion for environmental and social risks in 2024 through its Environmental and Social Due Diligence (ESDD) framework, bringing the total assessed since 2020 to over Ksh1 trillion.
Additionally, KCB reported a 4 percent reduction in resource consumption and offset 1.3 metric tonnes of carbon equivalent, largely driven by the planting of over 1.3 million trees.
