Standard Chartered has released its 2024 Sustainability Progress Report released this week. The report shows how the bank is embedded in Kenya’s socio-economic transformation, from slashing carbon emissions to unlocking new investment avenues for women and youth.
The bank’s sustainable finance income grew by 132% to KES 2.99 billion, while sustainable finance assets soared more than tenfold to KES 31.3 billion.
“Sustainability is not an add-on, it is central to how we create value for our clients and communities,” said Kariuki Ngari, Managing Director and CEO, Kenya and Africa, Standard Chartered. “We are proud to integrate sustainability into our core business, helping to unlock new opportunities for growth, development and resilience.”
One of the year’s key innovations was the launch of Africa’s first Sustainable Account, a product that enables clients to directly link their deposits to environmental and social impact projects. It’s a move the bank believes will redefine how clients engage with their money and their values.
Standard Chartered also continued to scale inclusive finance initiatives. Its SC WIN platform, aimed at empowering women entrepreneurs, now holds KES 2.6 billion in assets. Meanwhile, SC Shilingi, a digital money market fund designed to widen access to investments, boasts assets of KES 17.6 billion.
In 2024, Standard Chartered slashed its carbon emissions by 79%, reduced energy use by 54%, and recycled 95% of all its waste. It also became the first African institution to receive the prestigious TRUE Zero Waste Platinum certification.
“Our progress reflects a clear understanding that inclusion and empowerment go hand in hand with economic development,” noted Regina Mukiri, Head of Community Impact and Engagement. “We remain committed to driving change that benefits not just our clients but the wider society.”
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