The Lower Eastern Times Opening The Third Eye
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Stanbic Bank facilitated trade deals worth Sh76 billion and disbursed over Sh500 million in solar loans in 2024, reinforcing its drive toward sustainability and positioning itself as the region’s most environmentally conscious lender.
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In its 2024 Sustainability Report titled “Deepening Impact while Building a Sustainable Future,” the bank highlighted key milestones, including recycling 99.9% of its waste and subjecting all projects above $1 million to environmental and social risk assessments.
Stanbic Bank Kenya CEO Dr. Joshua Oigara emphasized that the bank achieved significant progress across various sectors in line with its sustainability goals.
“Sustainability remained a central pillar of our strategy, shaping how we design products and services through the integration of ESG principles,” Dr. Oigara said.
As part of its green finance agenda, the bank issued over Sh500 million in solar loans to accelerate the shift to renewable energy and support efforts to achieve net-zero carbon emissions.
Stanbic’s Head of Sustainability, Priscilla Were, noted that addressing climate change and promoting environmental stewardship are key to the bank’s long-term vision.
“Since 2019, we have been working to green 10% of our loan portfolio, focusing on renewable energy, sustainable agriculture, and climate adaptation,” she said. “We’ve already converted some branches to solar energy and plan to fully solar-power our Head Office. We also planted 8,000 trees to support ecosystem restoration.”
The bank has embraced voluntary sustainability and climate risk reporting in line with international benchmarks, cementing its reputation as a forward-looking financial institution.
The 2024 report tracks achievements under four key pillars: enterprise development and job creation, infrastructure growth, the just energy transition with a focus on climate change, and promoting financial inclusion.
