NAIROBI, Kenya, Mar 15 – Diamond Trust Bank (DTB) is planning to increase lending to green projects to 25 percent of its loan book.
The bank also targets to achieve a net-zero carbon emission status by 2030.
DTB Group Chairman Linus Gitahi made the commitments today during the inaugural economic and sustainability forum to sensitize DTB’s customers, suppliers, and partners.
“At DTB, we are cognizant that we have a role in the climate change battle, as a responsible corporate citizen. Stakeholder engagement and awareness is crucial for us as we crystallize our Environmental, Social and Governance (ESG) strategy,” he said.
“The sustainability engagement forum is one of the primary efforts we have mapped out towards our carbon emissions measurements and accountability. We commit to walking the journey with our stakeholders to ensure we meet our net zero targets by 2030.”
To mitigate climate change, DTB aims to grow 10 million trees by 2030.
DTB has also began installing solar panels at its headquarters in Nairobi, to reduce power consumption from the national grid by an estimated 20 percent.
DTB CEO Nasim Devji said the bank is in the process of revamping its existing environmental and social risk framework by developing a robust Environmental and Social Management System (ESMS).
Devji said the ESMS will have articulated policies, procedures, and processes on climate risk that are also integrated into the bank’s credit cycle.
“The ESG guidelines ensure business is conducted in an ethical manner and promotes the value of maintaining a balance between people, planet and profit to underwrite societal and business sustainability,” Devji said.
“We have embedded them in our business operations in order to help combat climate change and the long-term prosperity of this country,” she added.