Today (June 15th) is World Environment Day and we are highlighting some of the initiatives NCBA has taken to make an impact on environmental conservation. The NCBA #ChangeTheStory campaign is one such initiative. The campaign focuses on a wide range of environmental sustainability goals from EV charging infrastructure to electric vehicle financing, financing of Solar Photovoltaic (PV) systems to increasing Kenya’s forest cover by planting 10,000,000 trees by 2030.
EV Charging Stations
Through the #ChangeTheStory initiative, NCBA has made a commitment to a low-carbon operating model. Electric Vehicles (EVs) play a key role in reducing carbon emissions and NCBA wants to be part of that with several initiatives to support the adoption of EV’s in the country.
There have been some key achievements so far including:
Installing EV charging stations – To make sure the available infrastructure matches the growing number of EVs, NCBA has installed 4 charging stations in Nairobi and 1 in Kigali with more expected soon. Having the charging station is crucial in accelerating the adoption of EVs as it addresses the biggest concern of potential EV owners, charging accessibility.
“We are currently conducting research and analysis to identify optimal locations for EV charging stations based on factors such as population density, traffic patterns, and existing infrastructure. Our goal is additional partnerships with local governments, utilities, EV manufacturers, and other key stakeholders to leverage their expertise and resources,” the company said in the NCBA Integrated Report 2023.
Ksh 2 Billion EV Fund – NCBA has also set up a fund that should aid in the transition to electric vehicles. Having this financial support is important for encouraging both consumers and businesses to adopt EVs.
These two efforts by the company fit into its broad goal of committing Ksh 30 billion to green and sustainable financing. Having the financial support and necessary infrastructure will help promote EV adoption and a greener future for Kenya.
Additional Environmental Commitments
The NCBA #ChangeTheStory campaign isn’t all about EVs and charging infrastructure, it also targets other areas of environmental sustainability. These are:
Tree Planting Programme
- The goal for this is to plant 10 million trees by 2030.
- So far, over 7 million trees have been planted across the country.
- During World Environment Day last year, NCBA donated over 20,000 trees in Bungoma county with participation from local leaders and communities.
Waste Management
NCBA is also focusing on sustainable waste management practices with investment in initiatives focused on waste reduction, recycling, and circular economy practices. Some of the these include:
- Reduction of plastic use in corporate gifting by over 76.3%.
- Recycling over 34% of the waste at its headquarters and pilot branches.
Sustainable Financing
As part of the move to accelerate transition to clean energy, NCBA will facilitate and mobilize Green & Sustainable Financing.
- It has allocated Ksh 500 million to solar financing projects.
- Has committed Ksh 30 billion on various green initiatives.
Community Engagement
Since no change can be effected in a vacuum, NCBA has taken some steps to encourage community engagement and participation.
- It has launched the NCBA Academy offering 10 courses with over 100 scholarships awarded already.
- It plans to deploy Ksh 100 million annually to support community initiatives across the country.
Corporate Governance
NCBA plans to optimize its corporate governance by:
- Promoting diversity and inclusion with 8.9% of the amount spent on procurement directed to women and youth. It has a balanced gender ratio among employees.
- Mentor over 3,000 women and youth through different programs.
Conclusion
The NCBA #ChangeTheStory initiative is the right step for Kenya’s environmental sustainability journey. The initiatives range from tree planting, waste reduction and community support. It also focuses on promoting electric vehicles and establishing EV charging infrastructure. As we embrace greener alternatives, such initiatives play a key role in driving the change we need to address climate change and guarantee a sustainable future.
Read: Kenya Power to Invest KSh 258 million to Drive Uptake of Electric Mobility in Kenya