In a bold move signaling its commitment to sustainability, NCBA Bank has introduced hybrid electric vehicles (HEVs) into its corporate fleet, making it one of the leading financial institutions in Kenya to embrace green transportation. This development comes as the bank intensifies its environmental initiatives and aims to reduce its carbon footprint as part of its broader “Change the Story” strategy.
NCBA said in a statement that the transition represents its leadership in green innovation and its continued effort to foster a sustainable future for its organization and the communities it serves. The two hybrid electric vehicles, supplied by CFAO Mobility Kenya, represent a significant step in the bank’s efforts to transition towards cleaner energy solutions.
“We are excited to support NCBA Bank in achieving its sustainability goals,” said CFAO Mobility Kenya Managing Director, Mr Arvinder Reel. “Through the latest development, we are contributing to a greener future and aligning with our shared vision of reducing carbon emissions and promoting eco-friendly transport options across Kenya.”
Hybrid vehicles combine traditional internal combustion engines with electric propulsion, allowing for improved fuel efficiency and reduced greenhouse gas emissions. These vehicles are capable of switching between electric and gasoline power, ensuring lower carbon output compared to conventional vehicles. This adoption by NCBA is part of the bank’s ambition to lead by example in corporate responsibility, as well as to foster an eco-friendly work environment.
According to Mr Isaac Owila, NCBA’s Ag. Group Director technology and operations, this initiative aligns with the bank’s strategic focus on sustainability and innovation. “We are excited to take this significant step towards achieving our sustainability goals. Our commitment to reducing direct emissions and adopting green technologies underscores our dedication to creating positive environmental change,” Owila remarked during the unveiling of the vehicles.
NCBA has actively promoted Electric Vehicle (EV) adoption in Kenya. In a significant move last year, the bank introduced a KES 2 billion fund aimed at supporting customers interested in purchasing both personal and public electric vehicles. The fund targets individuals and businesses, offering competitive financing options that make EV ownership more accessible and affordable, reinforcing the bank’s commitment to environmental sustainability.
He noted that the adoption of hybrid technology is a first in a series of environmentally friendly initiatives the bank plans to roll out. “By setting an example in the adoption of sustainable practices, we not only meet our operational objectives but also enhance our brand reputation.” Owila added.
The bank has also embarked on an ambitious initiative to invest in deploying EV charging stations across the region. So far, NCBA has installed 4 charging stations – three at its headquarters (NCBA Center, NCBA House) in Nairobi and 1 at its HQ in Kigali, Rwanda.
As part of its commitment to sustainability, NCBA is also actively promoting eco-friendly financing solutions. The bank has committed to mobilizing Ksh30 billion (approximately USD 200 million) by 2030 to finance environmentally friendly projects. This green financing will primarily support the purchase of energy-efficient technologies, including electric and hybrid vehicles, solar energy projects, and other innovations that minimize environmental impact.
NCBA’s environmental sustainability efforts extend beyond vehicle adoption and financing. The bank has committed to planting 10 million trees by 2030 as part of its broader environmental conservation strategy. Tree planting is seen as a critical step in combating deforestation and reducing carbon emissions in the atmosphere. With climate change continuing to threaten ecosystems worldwide, initiatives such as this can have a long-lasting positive impact on the environment.
NCBA’s push towards sustainability places it among a growing number of Kenyan financial institutions that are incorporating environmental considerations into their operations. Banks such as KCB and Equity Bank have also rolled out similar green initiatives, highlighting a sector-wide shift towards more responsible business practices.
The growing adoption of green technologies and sustainability policies in Kenya’s banking sector is expected to have far-reaching impacts. With more financial institutions promoting green financing and adopting sustainable operational practices.
The overall corporate culture in the country is shifting toward environmental responsibility. This change is likely to accelerate the adoption of clean energy solutions and drive investments into sustainable infrastructure.
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