September 25, 2024
CBK Launches Climate Risk Disclosure Framework for Feedback
Aligned with the Greening Financial Systems Programme, a global initiative led by the European Union, The Central Bank of Kenya (CBK) has unveiled its Climate Risk Disclosure Framework, inviting the public to participate in shaping the future of sustainable banking..
The Central Bank of Kenya (CBK) has unveiled its Climate Risk Disclosure Framework, inviting the public to participate in shaping the future of sustainable banking. This initiative is part of the CBK’s efforts to combat climate change by promoting eco-friendly banking practices.
Aligned with the Greening Financial Systems Programme, a global initiative led by the European Union, this framework integrates environmental sustainability into financial institutions. It aims to assist commercial banks in collecting, comparing, verifying, and disclosing climate-related data.
Such transparency will empower investors with crucial information on the climate impact of their investments, pushing companies towards a low-carbon economy. The framework also promotes greater accountability within the financial sector, benefitting the general public, businesses, and other stakeholders.
The CBK encourages feedback and comments on the framework from all interested parties. Public participation is open until 31st October. Don’t miss your chance to shape the future of climate-conscious banking in Kenya
