This archive report was first published on 23 September 2019.
On September 23, 2019, the United Nations marked a significant milestone in the fight against climate change with the launch of the Principles for Responsible Banking. The initiative, which has garnered the support of 130 banks worldwide, including KCB Group, aims to promote sustainable development and reduce the banking industry's environmental footprint.
As one of the Founding Signatories, KCB Group has committed to strategically aligning its business with the Sustainable Development Goals and the Paris Agreement on Climate Change. This move is a significant step towards achieving a sustainable future, as the collective assets of the 130 banks involved total over USD 47 trillion, representing one-third of the global banking sector.
Speaking at the launch event, UN Secretary-General Antonio Guterres emphasized the importance of the Principles for Responsible Banking, stating, “The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.”
For KCB Group, the Principles for Responsible Banking serve as a reminder of its purpose as an institution. As Chief Operating Officer Samuel Makome noted, “The official launch of Principles for Responsible Banking marks a major milestone in the global banking industry of our commitment to implement Sustainable Development Goals and Paris Climate Change into our strategic objectives. In KCB Group, the Principles remind us of the reason we exist as an institution and we purpose to work with our stakeholders to shape a sustainable future for the next generation,”
By signing up to the Principles, KCB Group commits to using its products, services, and relationships to support and accelerate the fundamental changes in economies and lifestyles necessary to achieve shared prosperity for both current and future generations.
