Bank to mobilise Sh30b as it launches report on SDGs impact

The journey towards achieving the United Nations Sustainable Development Goals (SDGs) has been slower than anticipated.

According to the SDG Index from the SDG Transformation Centre, only 16 per cent of the targets are on track for achievement, while the remaining 84 per cent are making limited progress.

This disparity highlights the significant challenges the world faces in making meaningful strides toward these global objectives.

Despite these global challenges, Kenyan bank NCBA has released a Sustainable Development Impact Disclosure (SDID) report.

The bank said the report, guided by the recently introduced Impact Disclosure Taskforce guidelines, sets a new benchmark for transparency, accountability, and measurable impact in sustainability reporting.

“We are committed to acting beyond the rhetoric so that we can build a legacy of sustainability that will resonate for generations to come,” said NCBA Group managing director John Gachora.

The report, developed in collaboration with global financial institutions JP Morgan and Blaylock Van, outlines NCBA’s roadmap for contributing to the achievement of the United Nations’ 17 SDGs by 2030.

In its SDID report, NCBA has identified 10 SDGs it will focus on in Kenya.

The bank has also committed to mobilising Sh30 billion for green and sustainable financing, planting 10 million trees by 2030, eliminating single-use plastics, and achieving 100 per cent waste recycling by the same year.

According to a report by the United Nations Conference on Trade and Development, there is a huge financing gap for SDGs that can only be addressed through private-sector investment.

As such, global financial institutions and capital markets are being urged to play a pivotal role in funding the SDGs.

As part of the Impact Disclosure Taskforce, the bank plans to expand its SDID framework across its operations in Tanzania, Rwanda, Uganda, and Ivory Coast, ensuring that its commitment to sustainability is consistently implemented and measurable across the region.

Blaylock Van president Nyagaka Ongeri said NCBA's "bold initiative" provides investors with a further tool to deepen their understanding of NCBA’s impact strategy, ultimately helping to scale engagement that drives progress toward the UN Sustainable Development Goals.