Kenyan bourse pushes for adoption of UNEP's sustainable banking principles

Source: Xinhua| 2019-09-30 18:18:42|Editor: Xiang Bo
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NAIROBI, Sept. 30 (Xinhua) -- Kenya's Nairobi Securities Exchange (NSE) on Monday rooted for adoption of principles of sustainable banking launched this month at the United Nations General Assembly.

NSE chief executive Geoffrey Odundo said the local banking sector plays a key role in society by fostering economic growth thus must be aligned with society's goals.

He observed that Kenyan banks have a unique opportunity to play a leading role in promoting sustainability and responsible business practices as provided in the United Nations Environment Programme Finance Initiative (UNEP FI) principles.

"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 is to build a financial system that embraces financial benefits as well as social and environmental ones," said Odundo in a statement issued in Nairobi.

We urge all listed banks to commit to the principles for the benefit of the entire ecosystem."

He noted that Kenyan banks are positioning themselves for the fourth industrial revolution that leverages on fusing digital capabilities to enhance service delivery among various consumer segments.

"It is therefore critical that they align their strategies with society's interests and well-being. As a market, we are confident that the principles will enable banks to enhance their attractiveness to investors, as investors focus more on environmental, social and governance metrics in their investment decisions," said Odundo.