Stanbic Bank Kenya and KBL have today announced a partnership that will see the two organizations collaborate towards accelerating Kenya’s green economy. The move, which leverages the brand’s shared sustainability goals will include activities centered around sustainable development, including a goal to jointly plant 1 million trees in 5 years, contributing to carbon emission reduction, job creation, and socioeconomic growth.
The partnership adds to a long-standing relationship between the two organizations and will draw from their expertise and capabilities.
Speaking on the partnership, Dr Joshua Oigara, Chief Executive, Stanbic Bank Kenya and South Sudan said,’’ We are proud to expand our relationship with KBL beyond financial services. With shared principles on sustainability, we are well positioned to harness our collective strengths for increased impact in our communities, industries, and national economy. In addition to planting 1 million trees, we look forward to working with KBL to design and implement innovative and sustainable solutions that catalyze growth and climate change mitigation in Kenya. ’’
The collaboration will see Stanbic and KBL drive environmental stewardship across various communities in Kenya and will build on the sustainability expertise drawn from both organizations. The key focus areas will be tree planting, community training on regenerative agriculture, sustainable water use practices, and promoting alternative livelihoods to reduce pressure on natural resources.
Through community engagement, the partnership is expected to improve the livelihoods of communities through job creation and the enhancement of sustainable living environments.
Commenting on this, Mark Ocitti, Managing Director of Kenya Breweries Limited said, ‘’ “Our longstanding partnership with Stanbic Bank Kenya goes beyond financial services and is built on a shared commitment to
sustainability and environmental conservation. We are happy to come together to help tackle critical environmental challenges, such as restoring Kenya’s vital water towers. With over 1.5 million trees planted by
EABL over the last decade, this new commitment of 1 million trees underscores the transformative power of partnerships in addressing climate change.”
The initiative is aligned with Stanbic’s sustainability agenda that seeks to maximize positive impact through key impact areas including climate change mitigation and resilience. In 2023, Stanbic issued USD 122 million to green and sustainability-linked facilities. This is in addition to an environmental rehabilitation program focused on tree planting, natural habitat restoration, and biodiversity protection.
The partnership will be implemented over a 5 year period and will contribute to Kenya’s goal to plant 15 billion trees by 2032.
Related Content: Stanbic Bank’s 9-Month Profits After Tax Hit Ksh 10.1 Billion
