Grapevine

By Standard Media
Oct 15, 2024

Lenders must pull their weight in driving sustainability

KCB CEO Paul Russo.

For a long time, the financial system has been accused of being driven by short-term profit maximisation, ignoring concerns about people and the planet.

That’s far from it. It would be important to look at the overall role of the financial system in supporting the needs of the real economy.

That said, the narrative that the banking sector has been slow to respond to environmental sustainability challenges needs to be interrogated further to entrench environmental and social responsibilities across the sector’s stakeholder base.

I would say the banking sector has a big task in shaping a fair and sustainable future—a deliberate commitment to reducing our environmental impact, protecting stakeholders, and promoting responsible practice throughout the value chains.