Today, we see banks like NIC, Ecobank and KCB introduce environmental and social clauses into their contracts,” said Olaka. He disclosed that there are plans to introduce green bond which is a tax-exempt long term loan for development projects that are environmental friendly. In March, NSE joined Sustainable Stock Exchange Initiative, a UN programme, to enhance governance standard for listed companies. Kenya Bankers Association (KBA) CEO Habil Olaka said banks are increasingly introducing social and environmental impact clauses in their loan conditions, following last year’s signing of sustainable financing guidelines. However, Olaka said that KBA members are now beginning to factor in the social and environmental impact of what they are funding.

Source: Standard Digital June 12, 2016 21:00 UTC