Standard Chartered Kenya achieves KES 2.99 Billion in Sustainable Finance income, as part of drive to promote sustainability-linked growth

Standard Chartered Kenya has released its 2024 Sustainability Progress Report, highlighting demonstrable progress across its operations, financing, and community programmes. The report underlines the Bank’s continued role in supporting Kenya’s transition to a more inclusive low-carbon economy.

In 2024, the Bank’s sustainable finance income rose by 132% to KES 2.99 billion, while sustainable finance assets increased more than tenfold to KES 31.3 billion. This growth signals both market demand and the Bank’s commitment to leading the sustainable finance agenda in Kenya.

The Bank further cemented its position through innovations like the launch of Africa’s first Sustainable Account, allowing clients to link their deposits to environmental and social projects. It also deepened efforts in inclusive finance, with KES 2.6 billion in assets now under SC WIN, its women-focused financial empowerment platform, and KES 17.6 billion in assets under SC Shilingi, a digital money market fund enhancing access to investment opportunities.

“Sustainability is not an add-on, it is central to how we create value for our clients and communities. We are proud to integrate sustainability into our core business, helping to unlock new opportunities for growth, development and resilience,” said Kariuki Ngari, Managing Director & CEO, Kenya and Africa, Standard Chartered.

In its operations, the Bank reduced carbon emissions by 79%, cut energy usage by 54%, and recycled 95% of its operational waste. It became the first bank and institution in Africa to receive Platinum rating of TRUE Zero Waste certification. Standard Chartered has also been recognised for sustainable practices in the refurbishment of the Chiromo Head Office, receiving the Excellence in Design for Greater Efficiencies (EDGE) certification which recognises commitment to sustainability through significant energy, water, and embodied carbon savings.

The Bank’s Futuremakers youth empowerment initiative has reached over 54,000 young people since 2019, including more than 1,000 microbusinesses supported and KES 133 million invested in a new three-year employability programme launched in 2024. Through the Standard Chartered Nairobi Marathon, over KES 48 million was raised for youth initiatives, and over KES 380 million was injected into the local economy.

“Our progress reflects a clear understanding that inclusion and empowerment go hand in hand with economic development. We remain committed to driving change that benefits not just our clients but the wider society,” added Regina Mukiri, Head Community Impact and Engagement.

Environmental partnerships continued to flourish, notably with the handover of a one-million seedling nursery to the Nairobi Arboretum Conservancy, alongside conservation education tools such as QR-coded signage and a dedicated app for tree species.

As the global demand for responsible finance grows, Standard Chartered Kenya remains at the forefront – aligning its strategy with Kenya’s Vision 2030 and through support of the UN Sustainable Development Goals – while shaping the future of sustainable and inclusive growth.