Do you prefer to have your bank statements printed or shared electronically? Did you know that the fees charged for your bank statements depend on whether they are printed or shared electronically, that is, if you are an Absa Bank Kenya customer?
Yes, this is one of the initiatives adopted by Absa to encourage customers to embrace paperless service options in the lender’s drive towards becoming environmentally responsible.
Absa Bank Kenya has incentivized adoption of environmentally sensitive practices by its customers. “We provide discounts on banking fees for customers who choose paperless statements and offer preferential interest rates to customers who commit to the achievement of sustainability-linked targets,” reads part of Absa Bank 2022 Sustainability Report.
The lender has taken upon itself to drive the sustainability and environmentally sensitive agenda within its business by realigning its operations as well as influencing business partners and customers to embrace environmentally sensitive practices.
“We have a role to play in guiding our customers through this just transition towards becoming environmentally and socially responsible. We encourage our customers to reduce their carbon footprint by providing information on energy-efficient products, renewable energy providers and recycling services,” reads part of the bank’s latest Sustainability Report.
In addition, the lender is developing digital tools, which will be accessed on smartphones and other smart devices, in efforts to empower customers measure their contribution towards reducing the carbon footprint as well as track the environmental impact of their actions and decisions.
Absa Bank Kenya acknowledges that the sustainability drive is not an easy one, especially for business partners like customers who it does not have the ultimate control over their actions. That is why, “We are determined to play a leading role in guiding customers through this just transition by educating, encouraging, empowering and leading by example. By doing so, we can help create a more sustainable future for us all,” says report.
This is part of the lender’s Net-Zero commitment by the year 2040, which involves reducing its carbon footprint as a business as well as developing innovative climate finance products to support its clients on their transition journey.
To mitigate adverse climate change effects, the lender has tailored solutions for customers embracing various environmentally sensitive actions such as smart agricultural practices. This is expected to help customers sustainably earn from their agricultural practices as well as positively impact the environment.
“Our view is that adopting these practices is good business as not only is it the right thing to do, but there are also enormous benefits available through treating your employees and communities fairly and there are significant economic opportunities available in the renewable energy sector right through to regenerative farming practices,” the report says.
For more details, check out the Absa Bank Sustainability Report here.