Cooperative Bank of Kenya named winner of Sustainable Finance Catalyst Awards
The award attracted 33 entries from 14 institutions who were appraised on their policies to support minority groups including women and the youth.
The leader scooped the top prize in the second edition of awards that recognise the social and environmental impact of investments and loans.
Kenya Commercial Bank (KCB) and Equity Bank emerged second and third respectively in the Kenya Bankers Association 2017 Sustainable Finance Catalyst Award.
“As a bank that is predominantly owned by the 14 million-member cooperative movement, we are inclusive by design that has not only enabled us to deliver shared prosperity today, but also to build an awareness and prudence to avoid putting future generations in jeopardy,” said Cooperative Bank Group Managing Director Gideon Muriuki.
Sustainable Finance Catalyst Awards were created to recognize institutions that practice sustainable finance which has a direct positive impact on the financial sector, the economy, the environment and the society at large.
Financial Institutions with friendly policies to support small and medium businesses, promote the economy, and lead innovation stand to be recognized.
The award attracted 33 entries from 14 institutions who were appraised on whether they had covered the essential indicators which included the impact to the gross domestic product, growth of the business, job creation, and support of minority groups including women and the youth.
The financial sector has been identified as a key catalyst towards achieving a green economy with their priorities now aligned to the sustainable development goals, however, lending to green assets such as agriculture and renewable energy sector is still wanting.
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