Stanbic Bank to Enhance Sustainable Climate Financing Solutions

Stanbic Bank announced that it will enhance financial assistance to its clients in order to support long-term climate solutions.

It will also help them create capacity, form partnerships, and fund essential initiatives in education, health, and entrepreneurship.

“We continue to center our strategic priorities on growth drivers that are sustainable and beneficial for our people, clients, and the entire environmental ecosystem,” said Stanbic CEO Joshua Oigara.

“Through sustainable financing and strategic partnerships, we continue to implement market-specific solutions that drive inclusion, social, economic growth, and environmental (SEE) stewardship,” Oigara added.

In addition, the lender stated that it has established major impact areas and goals for its three-year plan, with green finance accounting for 10% of the total book by December 2023.

”We continue to deploy tools, systems, and capabilities to drive sustainability, mitigate risk and create sustainable value for our clients, partners, shareholders, and community,” said Stanbic’s head of sustainability, William Khamasi.

“Aligned with our purpose to drive growth in Kenya and South Sudan, we are well equipped to contribute to several sustainable development goals (SDG) priorities through funding, capacity building, and innovation,” he added.

Climate change, according to Khamasi, is a critical priority area, and the bank is keen to support green projects and the blue economy.