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NSE says its performance was adversely affected by a challenging economic environment and reduced inflow of capital from global frontier market investors who are key participants in the market/FILE

Kenya

NSE endorses the principles for responsible banking

NSE Chief Executive Geoffrey Odundo has urged all listed banks to commit to the principles for the benefit of the entire ecosystem/FILE

NAIROBI, Kenya, Sept 30 – The Nairobi Securities Exchange has endorsed the UNEP Finance Initiative Principles for Responsible Banking that were launched at the UN this month by the Secretary General, Antonio Guterres.

The Principles for Responsible Banking provide a framework to align the banking industry with society’s goals, as expressed in the Paris Climate Agreement and the UN Sustainable Development Goals.

NSE Chief Executive Geoffrey Odundo has urged all listed banks to commit to the principles for the benefit of the entire ecosystem.

“We are witnessing a shift in the corporate landscape, as business leaders begin to understand the need to move towards sustainable business practices. Our goal at NSE is to build a financial system that embraces financial benefits as well as social and environmental ones,” he said.

He added that the banking sector plays a key role in society by fostering economic growth with banks having a unique opportunity to play a leading role in promoting sustainability and responsible business practices.

Last week, KCB Group signed the Principles for Responsible Banking, joining a coalition of 130 banks worldwide, representing over USD 47 trillion in assets, in committing to taking on a crucial role in helping to achieve a sustainable future.

“The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.” said UN Secretary-General Antonio Guterres at the launch of principles for Responsible Banking event.

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