Stanbic Bank Kenya and Kenya Breweries Limited (KBL) have agreed to collaborate on accelerating Kenya’s green economy. The move, which leverages on the brand’s shared sustainability goals will include activities centred around sustainable development, including a goal to jointly plant 1 million trees in five years, contributing to carbon emission reduction, job creation and socioeconomic growth.
Stanbic Bank Kenya and South Sudan, Chief Executive, Joshua Oigara, said: “We are proud to expand our relationship with KBL beyond financial services. With shared principles on sustainability, we are well positioned to harness our collective strengths for increased impact in our communities, industries and national economy.”
The collaboration will see Stanbic and KBL drive environmental stewardship across various communities in Kenya and will build on the sustainability expertise drawn from both organizations.
“In addition to planting 1 million trees, we look forward to working with KBL to design and implement innovative and sustainable solutions that catalyse growth and climate change mitigation in Kenya,” said Oigara.
The key focus areas will be tree planting, community training on regenerative agriculture, sustainable water use practices, and promoting alternative livelihoods to reduce pressure on natural resources.
Through community engagement, the partnership is expected to improve the livelihoods of communities through job creation and the enhancement of sustainable living environments.
Kenya Breweries Limited, Managing Director, Mark Ocitti, said: “Our longstanding partnership with Stanbic Bank Kenya goes beyond financial services and is built on a shared commitment to sustainability and environmental conservation. We are happy to come together to help tackle critical environmental challenges, such as restoring Kenya’s vital water towers.
“With over 1.5 million trees planted by EABL over the last decade, this new commitment of 1 million trees underscores the transformative power of partnerships in addressing climate change.”
The initiative is aligned to Stanbic’s sustainability agenda that seeks to maximize positive impact through key impact areas including climate change mitigation and resilience. In 2023, Stanbic issued USD 122 million to green and sustainability linked facilities. This is in addition to an environmental rehabilitation programme focused on tree planting, natural habitat restoration and biodiversity protection.
The partnership will be implemented over a five-year period and will contribute to Kenya’s goal to plant 15 billion trees by 2032.