In the 7th edition of the Sustainable Finance Initiative Catalyst Awards, the Kenya Bankers Association (KBA) acknowledged 26 banks for their commitment to sustainable finance. Held in collaboration with FSD-Kenya, the prestigious event brought together key players in Kenya’s banking sector to celebrate institutions leading the way in sustainable finance.
The Cooperative Bank of Kenya claimed the coveted title of Overall Sustainable Finance Awardee for 2023, emerging as the shining star of the evening. In a closely contested race, Equity Bank Kenya secured the second position, with Absa Bank Kenya securing the third spot. These banks’ dedication to sustainable finance practices sets them apart as industry leaders, contributing to a greener and more environmentally responsible future.
The awards, announced following a rigorous evaluation of bank submissions earlier this month, saw an impartial panel of judges meticulously assess entries across eight categories, including detailed case study submissions.
Equity Bank Kenya stood out in the Most Innovative Bank category, securing the top position. Cooperative Bank of Kenya and Kenya Women Microfinance Bank (KWFT) jointly claimed the second position in this fiercely competitive category, while Absa Bank Kenya clinched the third spot. The Most Innovative Bank category showcased the industry’s creative drive towards sustainability with a total of nine entries.
In the Best Client Case Study- Promoting Persons with Disability Accessibility category, Cooperative Bank of Kenya claimed the lead, emphasizing their commitment to inclusivity. Standard Chartered Bank and Equity Bank secured second and third places, respectively, in this essential category promoting equal access to financial services.
Gender inclusivity was also a prominent theme, with Cooperative Bank of Kenya and KWFT jointly securing the first position in the Best Client Case Study-Promoting Gender Inclusivity category. Absa Bank Kenya and Standard Chartered Bank followed closely, securing second and third places, respectively, in recognition of their efforts to promote gender equality within the banking sector.
Absa Bank Kenya received the top award in the Best Case Study-Operations category, highlighting their commitment to sustainable banking practices across their operations. Cooperative Bank of Kenya and Equity Bank Kenya followed closely, demonstrating their dedication to responsible banking operations.
In the Best Case Study-Commercial category, Cooperative Bank of Kenya emerged as the leader, with Equity Bank Kenya and African Banking Corporation (ABC Bank) securing the second and third positions, respectively. This category highlighted the significant strides these banks have made in promoting sustainability within their commercial activities.
Equity Bank Kenya celebrated a first-place win in the Best Case Study-Retail MSME category, illustrating their dedication to supporting micro, small, and medium-sized enterprises in adopting sustainable practices. Cooperative Bank of Kenya and Kenya Women Microfinance Bank claimed the second and third positions, respectively, in recognition of their efforts to empower businesses in this crucial sector.
This year’s Sustainable Finance Initiative Catalyst Awards witnessed a notable increase in participation, with a total of forty-nine entries submitted by banks, compared to forty-three in 2022. This surge in interest underscores the growing commitment of Kenya’s banking industry to sustainability and environmental responsibility, setting a positive trajectory for the future.
