KEPSA, led by the Deputy CEO Mr Victor Ogalo, joined other stakeholders in the inaugural Diamond Trust Bank (DTB) Sustainability Forum on 15^th March 2023 at a Nairobi hotel. Themed ‘Embedding Sustainability in Businesses’, the event brought together policymakers, leaders, and private sector actors to discuss the increasing influence of Environmental, Social, and Governance (ESG) matters on business. The forum also sought to highlight emerging trends, opportunities, and risks shaping current and future businesses and policy environments.

DTB is currently finalising its ESG and Net Zero strategy and in line with that, conducting a series of forums to sensitise stakeholders on the importance of embedding sustainability in their day-to-day business operations. As a sign of its commitment, DTB has anchored its growth strategy on three pillars – one of which is Sustainability Excellence.

In her opening remarks, DTB Group CEO Ms Nasim Mohamed Devji stated that the institution is rolling out a sustainability strategy that is guided by the shared value principle of the fact that the institution’s long-term viability as a corporate is intricately tied to sustainable growth of every sub facet of the society. She said that the strategy will focus on greening the bank’s operations as well as enabling the adoption of green practices for customers and suppliers.

“It is clear that we need more hands on deck to successfully implement the sustainability agenda. In this respect, as business leaders, we must involve our employees, our customers, partners, suppliers, and the society at large in this novel, extremely important and urgent course,” said the DTB CEO.

The DTB Chairperson Mr Linus Gitahi reiterated the need for businesses to be catalysts to contribute to the socioeconomic well-being of the community they operate in. He went on to say that businesses need to play their role in promoting environmental conservation to minimise the impact of global warming. He said, “We are looking forward to having partners to develop wholesome green solutions as well as increase the number of green vendors within our supply chain portfolio so that at least 20% of our procurement in value terms are sourced from value chains that actively measure and evaluate their carbon status.”

The Deputy CEO Mr Ogalo noted that KEPSA has established the Climate Business Information Network Kenya (CBIN-K) platform. The Platform brings together businesses, policymakers, and investors in Kenya to drive climate action and promote sustainable business practices. Through the platform, KEPSA has continued to create awareness and build capacity on climate change issues among businesses in Kenya and promote partnerships and collaboration between the public and private sectors to drive climate action. The Platform provides a range of services to its members, including access to information and tools for measuring and reporting on greenhouse gas emissions, training on climate risk management and adaptation, and networking opportunities.

“While we do recognize that embedding ESG practices in businesses is a long-term process that requires commitment and collaboration from all stakeholders, companies can begin to implement basic sustainable practices across their operations, such as reducing waste, conserving energy, and sourcing materials responsibly,” Remarked Mr Ogalo.

KEPSA intends to use the CBIN-K platform to establish reliable and accessible sources of ESG data and information, including disclosure frameworks and reporting standards. This would enable businesses to make informed decisions based on accurate and up-to-date information. The Alliance is also keen on collaborating and partnering with development partners, businesses, governments, and Civil Society Organisations (CSOs) to establish a data centre by sharing best practices, pooling resources, and coordinating efforts to achieve shared goals.

Discussions during the forum indicated that there is a growing interest and demand for embedding sustainability in businesses. The forum also highlighted the benefits that the sustainability model brings to businesses including easier access to capital, business competitiveness, and addressing investor demands for sustainability-related information.