Absa Bank Kenya PLC has today released its 2024 Sustainability and Climate Report, outlining progress in environmental action, and inclusive finance.
Themed Rooted in purpose, growing with impact, the report showcases how Absa is embedding sustainability across its business. A key highlight is the Eco-Home Loan, which empowers customers to make climate conscious upgrades to their homes. These includes installing solar panels, water and energy-saving systems, and using sustainable building materials. The loan offers up to 110% financing to help customers build or upgrade homes with energy efficient and climate resilient features.
In addition, the bank disbursed Ksh. 47 billion in sustainable finance targeting MSMEs, women and youth-led enterprises, and underserved segments. Of this, Timiza, Absa’s digital lending platform, accounted for Ksh. 25.1 billion.
Commenting on the report, Absa Bank Kenya Chairman, Charles Muchene, said: “The 2024 report reflects our continued evolution towards sustainability maturity and greater alignment with global standards. It marks the early stages of adopting the International Sustainability Standards Board (ISSB) guidelines, IFRS S1 and S2 which are poised to become the global benchmark for sustainability disclosures. We see this as a necessary shift to build investor confidence and comparability.”
On climate action, the Bank also reported a 38% reduction in Scope 2 emissions (from purchased electricity) compared to the 2019 baseline, driven by retrofitting and smart metering across its premises. For 2024, 2,745 kilograms of waste were recycled, with a 94% recovery rate helping avoid close to 7 tonnes of CO₂-equivalent emissions. Absa has also planted over 1.5 million trees to date as part of its reforestation efforts.
Absa Kenya CEO Abdi Mohamed noted: “Sustainability is now a business imperative. Over the past three years, we have embedded it as a core lens through which we evaluate risk, opportunity, and long-term impact. This is now translating into tangible results from inclusive lending and supply chain empowerment to financing solutions that actively support Kenya’s transition to a low-carbon, climate-resilient economy. The Eco-Home Loan is one example of how we are taking this forward.”
The Absa Kenya Foundation has invested Ksh. 107 million invested in citizenship and financial literacy programs. More than 11,000 youth were trained through the bank’s ReadytoWork platform, while 635 staff members participated in community outreach initiatives valued at Ksh. 41 million.
Internally, Absa maintained strong performance on inclusion, with a 51:49 female to male ratio and continued Top Employer recognition. Governance systems were further recognised strengthened through Board-level oversight of climate risk and sustainability disclosures, approval of a Greenwashing Policy, and alignment with CBK’s Climate Risk Guidelines and Kenya’s Green Finance Taxonomy.
The report is available HERE.