I&M Bank Group Strengthens Commitment to ESG,joins UN Global Compact

I&M Group has officially joined the United Nations Global Compact (UNGC) reaffirming its dedication to Environment, Social, and Governance (ESG) initiatives. This significant step aligns with the Group iMara 2.0 strategy,which embraces ESG and the UN Sustainable Development Goals (SDGs), thereby aiming to establish a resilient business across its subsidiaries.

The signing ceremony was attended by Ms. Judy Njino, Executive Director of the Global Compact Network in Kenya, who emphasized the importance of businesses committing to responsible and sustainable conduct.

“As the world faces many complex and interrelated challenges,business as usual is no longer a viable paradigm for today’s society. Committing to responsible business backed by meaningful action is critical for all companies in all sectors to solve the climate crisis, reduce inequalities and future proof business. Today, we applaud I&M Bank Group for joining our global movement of companies committed to being a force for good in society and we pledge our support in helping the Bank deepen its engagement across its Environment, Social and Governance commitments. “ stated Ms. Njino.

Mr. Kihara Maina, Regional CEO of I&M Bank Group, also shared his thoughts during the signing ceremony:

“As I&M Bank Group, we are delighted to join the UN Global Compact today, demonstrating our commitment to upholding its principles of protecting human rights, respecting labor laws, promoting environmental responsibility, and combating corruption throughout I&M Group’s business processes and practices. This strategic partnership not only aligns with our business operating model but also caters directly to the evolving needs of our customers, who have increasingly embraced sustainability and green energy adoption for their business operations,” said Mr. Maina.

He further added, “To build a resilient business,we must build a sustainable business. Since 2021, we have made a conscious effort to embrace Environmental, Social, and Governance (ESG) principles, and we remain fully and publicly accountable in making a significant sustainable impact for our people and our planet.”

I&M Group has undertaken various initiatives to reduce its carbon footprint, ensuring that sustainability remains at the core of its operations. The Bank places particular emphasis on environmental responsibility, taking a proactive approach in identifying opportunities to achieve net-zero impact. This includes a focus on digital banking, transitioning to green energy, and adopting green buildings. Notably, the recently inaugurated Rwanda green building, Nine on the Avenue, serves as the lender’s second green headquarters after 1 Park Avenue in Nairobi.

In addition to its own sustainability efforts, the Group encourages its customers and suppliers to embrace a sustainable business model. In 2019, I&M Bank Kenya established a Kes 6 Billion green energy lending scheme to support customers undertaking similar transitions. With a current uptake of over 40 per cent, I&M Bank aims to be a financial partner for its customers as they pursue sustainability and transform their businesses.

By joining the UN Global Compact, I&M Group becomes the 6^th Tier 1 Bank in Kenya to embrace this initiative, joining thousands of companies worldwide.As the Bank approaches its 50th anniversary, it remains committed to aligning its business strategies and goals with the principles of the UN Global Compact and actively working towards achieving net-zero emissions.

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