Co-operative Bank of Kenya has continued to triumph in the local banking industry after it won the coveted Kenya Bankers Association (KBA) 2022 Sustainable Finance Catalyst Awards.
The financial institution was crowned as the overall winner in the recently concluded awards marking its third win in a period of five years.
The Awards recognise institutions that practice sustainable finance which has a direct positive impact on the financial sector, the economy, the environment and the society at large.
Sustainable Finance Principles require financial institutions to balance their quest for financial returns with the economy’s future priorities and social-environmental concerns.
At the event, Co-op Bank also won in specific award categories that include being named as the Most Innovative Bank in Sustainable Finance and the Best Bank in Financing Commercial Clients.
Celebrating the win, Group Managing Director & CEO of Co-operative Bank, Dr Gideon Muriuki noted that the company's sustainability goal is driven by economic sustainability, social sustainability and environmental stewardship.
"Sustainability is fully integrated in our business model that stands on the three pillars of Economic sustainability, Social sustainability and Environmental stewardship.”
“As a bank that is predominantly-owned by the 15 million-member Co-operative Movement, we are inclusive by design that has not only enabled us to deliver shared prosperity today, but also helped us build an awareness and prudence to avoid putting future generations in jeopardy," Muriuki stated.
Co-op Bank emerged winner as a result of building a sustainability strategy that enables people, businesses and society to grow in a way that is sustainable in the long-term.
The awards showcase firms that demonstrate a progressive stance in integrating sustainability practices in their respective institutions.
Previously, Co-op Bank won the sustainability award in 2017 as well as 2019.
It was named as best bank in sustainable finance in Kenya at the 2019 Energy Management Awards hosted by the Kenya Association of Manufacturers (KAM) and was also the overall winner in environmental sustainability report at the 2019 East African Financial Reporting (FiRe) Awards.
