Sustainable Finance Initiative Drives Best Practice in Kenya
Kenya’s Sustainable Finance Initiative (SFI) is playing a critical capacity-building role by raising awareness of sustainable finance and upskilling the country’s banking sector. Its innovative e-learning platform has reached thousands of bank employees, while its annual awards recognize industry excellence.
As of December 2024, more than 50,000 bankers representing 38 commercial banks and eight microfinance institutions have enrolled for the SFI e-learning program, available online and through a mobile app. The course has been developed to deepen the sector’s understanding of sustainable finance, with practical guidance on implementing the Kenya Sustainable Finance Principles.
An initiative of the Kenya Bankers Association—with support from a range of local and international organizations including the IFC, FMO – Dutch Entrepreneurial Development Bank, UN Environment Programme (UNEP), WWF, International Union for Conservation of Nature (IUCN), and others—the SFI brings best practice to the local market. Training is aimed at bank employees across all roles and job levels, and is also available to consultants, individuals, and organizations wanting to expand their knowledge of sustainable finance in support of social, economic and environmental imperatives.
E-learning modules evolve with market needs
With a constantly evolving syllabus, KBA under its SFI recently developed and rolled out e-learning modules, including the Climate Risk Guidelines, aimed at empowering the banking industry to disclose climate-related financial information, and Understanding Agri Green Technology.. The latter focuses on how the financial sector players can design instruments to direct financial flows towards green technology which will inevitably help economies transition from unsustainable to sustainable models of production.
Celebrating sustainable finance pioneers
The SFI’s Sustainable Finance Catalyst Awards, launched in 2016, celebrate those Kenyan banking institutions that practice catalytic finance in support of the banking sector, economy, and society. The 2024 awards specifically recognized those institutions that drive inclusive economic growth and are embedding Sustainable Finance Principles into their operations. Among the 2024 categories are prizes for Best Practice in Sustainable Finance, Best Client Case Study Promoting Gender Inclusivity, Most Innovative Bank, and Best Practice in Promoting PwD Accessibility.
Key Links/Documents:
https://cioafrica.co/kba-revamps-its-sfi-elearning-platform-powered-by-erevuka/