Absa Bank PLC recognised for championing sustainability

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Absa Bank PLC recognised for championing sustainability

a bsa Bank Kenya PLC has become the first bank in Kenya to join Kenya Green Building Society for championing initiatives that promote the green economy by reducing pollution and improving people’s lives while fostering economic growth.

KGBS chairperson Elizabeth Wangeci Chege said that Absa Bank continues to show that they are committed to the sustainable journey through their various products such as sustainable financing.

Since last year, Absa Bank in collaboration with KGBS and World Green Building Society (WGBS) has been actively involved in the transformation of the built environment to respond to the climate emergencies.

“Sustainability continues to be at the core of our business,” says Jane Waiyaki, head of Sustainability and Responsible Business Partnerships at Absa Kenya.

“Absa has invested approximately Ksh34 million in retrofitting all its facilities to become water and energy efficient with an aim to bringing down energy costs by up to 30% or Ksh20 million annually,” she adds.

Additionally, the bank has replaced all water dispensers with eco-friendly ones, helping them reduce plastic within the working environment and therefore reduce carbon footprint in relation to plastic use by 56%.

During its first phase, the change has also contributed positively to the business leading to 26% savings on the cost incurred initially from the consumption of bottled water. It is estimated that this will increase to 37% cost savings once the project is fully implemented by the end of the year.

Waiyaki said that Absa Kenya wants to be part of the solution to climate change and this  means that the bank will align all its products to respond to environmental, social and governance challenges.

The bank is now partnering with select SMEs to recycle rebranding waste including marketing collateral and metallic and plastic waste to produce school bags, film equipment and fencing posts.

Additionally, all gently used electronic waste generated from the brand name change will be refurbished and used to set up 66 computer labs in various institutions across the country.

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