StanChart Kenya posts $23M from green finance, cuts emissions 79%, boosts youth jobs, women-led firms, and ESG innovation.

StanChart Kenya Earns $23M from Green Financing, Slashes Emissions by 79%

Standard Chartered Bank Kenya has posted a record-breaking KES 2.99 billion (USD 23 million) in income from sustainable finance in 2024, according to its latest Sustainability Progress Report 2024. The results represent a 132% increase from KES 1.29 billion (USD 9.9 million) in 2023, cementing the bank’s position as a market leader in ESG-aligned banking.

Launched on July 16, 2025, the report shows sustainable finance assets grew by a staggering 941%, from KES 3.0 billion (USD 23 million) in 2023 to KES 31.3 billion (USD 241 million) in 2024. This surge reflects a rapidly expanding appetite for green, inclusive, and responsible banking services in Kenya and across Africa.

“We are proud of the strides we’ve made to finance sustainable progress while delivering value to communities,” said Kariuki Ngari, CEO, Standard Chartered Bank Kenya.

Greening Operations: 79% Emissions Cut

The bank’s environmental footprint reduction is equally remarkable:

• 79% cut in carbon emissions
• 54% decrease in energy consumption
• 95% of operational waste recycled

These achievements earned StanChart Kenya the TRUE Zero Waste Platinum Certification, making it the first bank in Africa to receive this globally recognized circular economy standard.
(Global Compact Kenya)

The refurbished Chiromo Head Office also achieved EDGE Certification, the IFC-backed standard for green buildings. The structure now conserves energy, water, and embodied carbon across its operations.

Explosive Growth in Sustainable Finance

According to Marketscreener, the income growth and asset expansion under StanChart’s sustainability strategy demonstrate that ESG investment is now a viable and scalable banking frontier.

The bank also introduced Africa’s first Sustainable Account, which ties client deposits directly to funding environmental and social projects, allowing individuals and corporates to support ESG outcomes.
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$20M for Women-led Enterprises

Standard Chartered’s SC WIN platform (Women’s Innovation and Leadership) is now managing KES 2.6 billion (USD 20 million) in assets specifically supporting women entrepreneurs. Through this platform, the bank provides capacity-building, financing, and market linkages to scale women-led businesses.

This initiative aligns with UN SDG 5 (Gender Equality) and promotes equitable access to finance, especially in a market where women face systemic underfunding.

“Our commitment to gender-smart financing is not just good for women, it’s good for business,” said a StanChart spokesperson during the launch.

$135M in the SC Shilingi Fund

Another standout innovation is the SC Shilingi Fund—Kenya’s first fully digital, ESG-aligned money market fund. It grew its asset base to KES 17.6 billion (USD 135 million) by 2024, attracting both retail and institutional investors with its sustainable, mobile-first approach.

This fund is helping democratize green investing in Kenya, giving ordinary citizens access to returns that also advance ESG goals.

Youth Empowerment: 54,000+ Lives Touched

The Futuremakers by Standard Chartered programme has now impacted over 54,000 young people in Kenya, since its inception in 2019. The initiative offers training, entrepreneurship development, and microfinancing to underprivileged youth.

In 2024 alone, the bank injected KES 133 million (USD 1.02 million) into a new employability programme and supported 1,000+ microbusinesses. This directly aligns with SDG 8 (Decent Work and Economic Growth).

Nairobi Marathon: $3M Economic Boost

Beyond banking, the Standard Chartered Nairobi Marathon has become one of Kenya’s top social impact events. In its 2024 edition:

• Raised KES 48 million (USD 370,000) toward youth development projects
• Injected KES 380 million (USD 2.92 million) into Nairobi’s economy

The race attracted over 22,000 participants and multiple sponsors, making it both a sporting highlight and a tool for social progress.

Global Compliance and SDG Alignment

Standard Chartered’s 2024 report is fully aligned with major global ESG frameworks, including:

• UN Principles for Responsible Banking (PRB)
• GRI Standards
• Task Force on Climate-related Financial Disclosures (TCFD)
• The bank’s Net Zero Roadmap

Its Board Sustainability Committee continues to oversee progress, while sustainability KPIs are embedded into core performance evaluation and risk dashboards.

Future Outlook

As Kenya moves toward green industrialization and digital transformation under its Vision 2030, Standard Chartered’s leadership in sustainable finance is setting benchmarks.

Still, the bank acknowledges key regional challenges: limited ESG reporting infrastructure, regulatory uncertainty, and climate vulnerability. Yet, the foundation is strong, and growth indicators are highly positive.

“We are not just reporting numbers—we are building a resilient, inclusive, and net-zero future,” said CEO Kariuki Ngari.