Barclays Kenya Parent Company, ABSA, signed the Principles for Responsible Banking in Paris joining a coalition of 130 banks worldwide representing over $47 trillion.
On September 22, ABSA became one of the founding signatories of these principles showing commitment to align strategically with the SDGs and the Paris Agreement.
ABSA commits to using its products, services, and relationships to support and accelerate the fundamental changes geared towards achieving shared prosperity for both current and future generations.
Jeremy Awori, Barclays Kenya CEO, opines that business managers must promote sustainable practices.
In a commentary titled Sustainability now a key focus point for banking, Awori says that Barclays Kenya commits to safeguard the environment, address rampant unemployment in a constantly rising population, and issues of depleting natural resources.
ABSA aims to develop solutions tailor-made to drive long term profitability to benefit communities. In this case, sustainability provides an opportunity for the banking sector as it sits at the heart of business strategies and operations.
ABSA positions itself to be a more active force for good in society. In addressing poverty, Barclays has invested in helping the youth acquire quality education and transition into internships, jobs, and entrepreneurship. Through the Ready to Work platform, the bank has impacted over 155,000 students.
On top of that, Barclays through the Shared Value program focuses on the provision of resources and skills to SMEs. For instance, the Business Club has upskilled more than 10,000 businesses through structured programs thus enabling the businesses to access international markets.
Moreover, Barclays Kenya has reduced paperwork in the branches thus allowing customers to perform transactions without filling a single form. Furthermore, the bank sends e-statements rather than relying on printed statements. Furthermore, the bank will roll out a drinking water solution that eliminates the use of plastic.
