NAIROBI, Kenya, Sept 24 – Kenya’s leading banks and insurers have pledged stronger support for climate-smart financing to safeguard the country’s building sector from rising climate risks.
Speaking during a high-level forum on de-risking and safeguarding investments in buildings held in Nairobi on Friday, the institutions said sustainable financing is now central to protecting infrastructure, creating green jobs, and reducing long-term risks.
Kenya Commercial Bank (KCB), Absa Bank, Co-operative Bank, NCBA, Stanbic, DTB, and mortgage lenders such as HFC highlighted ongoing efforts to align their financial products with sustainability goals.
Insurers including Britam, Madison, GA Insurance, and Orient Life also outlined plans to back resilient building investments.
“Transitioning to a low-carbon economy not only supports climate goals but also drives green jobs, energy security, and long-term resilience,” said Ken Luusa, Head of Projects and Investments at KCB.
Absa Bank’s Head of Mortgages Business, Beatrice Chege, noted the lender has introduced sustainable mortgage products to promote certified green buildings.
“We are contributing to reducing the carbon footprint one building at a time,” she said.
HFC’s Head of Mortgages Business, Stella Mutai, added that the sector needs more collaboration. “Innovation does not always come from one sector. By working together, we can deliver a green sector through strategic partnerships,” she said.
The forum, convened by the State Department for Public Works and the Global Buildings Performance Network (GBPN), brought together stakeholders from finance, insurance, real estate, and construction to explore strategies for scaling climate-resilient investments.
Industry players agreed that financing remains the most critical barrier and opportunity in implementing Kenya’s National Buildings and Construction Decarbonization Roadmap, which targets near-zero emissions buildings by 2030.
Mugure Njendu of the GBPN highlighted the importance of resilience in the built environment “The new normal is extreme, and resilience is an investment, not a cost.”
