Sustainability in the financial sector in Kenya

Simple item page
dc.creatorKariuki, Francis Kamau
dc.date03/12/2015
dc.dateThu, 12 Mar 2015
dc.dateThu, 12 Mar 2015 16:14:13
dc.dateMonth: 2 Year: 2015
dc.dateThu, 12 Mar 2015 16:14:13
dc.date.accessioned2015-03-18T11:29:18Z
dc.date.available2015-03-18T11:29:18Z
dc.descriptionWorking paper
dc.descriptionAt the core of the concept of sustainability is the need to take into account the social, economic and environmental concerns in development. Sustainability ensures that economic growth takes into consideration social and environmental issues. In the financial sector, sustainability is necessary due to the critical role played by the sector in national development. In Kenya, financial institutions are financing investments in the agricultural, manufacturing, housing, infrastructural, energy and extractive industries. These investments have significant environmental and social impacts creating the need for adoption of sustainable finance. In spite of this, initiatives aimed at sustainability in the sector, are diverse and uncoordinated, and are therefore not likely to result in tangible long term benefits for society, environment and the business community. A synergistic approach to sustainability in the industry is thus imperative. The paper proposes the adoption of a hybrid approach in implementing sustainable banking in Kenya. The model would harness the positive attributes of market-driven and compliance approaches to regulation. Such a model could have voluntary codes and guidelines developed by the industry, and a regulator to enforce and ensure compliance with those guidelines.
dc.description.abstractAt the core of the concept of sustainability is the need to take into account the social, economic and environmental concerns in development. Sustainability ensures that economic growth takes into consideration social and environmental issues. In the financial sector, sustainability is necessary due to the critical role played by the sector in national development. In Kenya, financial institutions are financing investments in the agricultural, manufacturing, housing, infrastructural, energy and extractive industries. These investments have significant environmental and social impacts creating the need for adoption of sustainable finance. In spite of this, initiatives aimed at sustainability in the sector, are diverse and uncoordinated, and are therefore not likely to result in tangible long term benefits for society, environment and the business community. A synergistic approach to sustainability in the industry is thus imperative. The paper proposes the adoption of a hybrid approach in implementing sustainable banking in Kenya. The model would harness the positive attributes of market-driven and compliance approaches to regulation. Such a model could have voluntary codes and guidelines developed by the industry, and a regulator to enforce and ensure compliance with those guidelines
dc.identifier
dc.identifier.urihttp://hdl.handle.net/11071/3867
dc.languageeng
dc.publisherKenya Bankers Association
dc.rightsBy agreeing with and accepting this license, I (the author(s), copyright owner or nominated agent) agree to the conditions, as stated below, for deposit of the item (referred to as .the Work.) in the digital repository maintained by Strathmore University, or any other repository authorized for use by Strathmore University. Non-exclusive Rights Rights granted to the digital repository through this agreement are entirely non-exclusive. I understand that depositing the Work in the repository does not affect my rights to publish the Work elsewhere, either in present or future versions. I agree that Strathmore University may electronically store, copy or translate the Work to any approved medium or format for the purpose of future preservation and accessibility. Strathmore University is not under any obligation to reproduce or display the Work in the same formats or resolutions in which it was originally deposited. SU Digital Repository I understand that work deposited in the digital repository will be accessible to a wide variety of people and institutions, including automated agents and search engines via the World Wide Web. I understand that once the Work is deposited, metadata may be incorporated into public access catalogues. I agree as follows: 1.That I am the author or have the authority of the author/s to make this agreement and do hereby give Strathmore University the right to make the Work available in the way described above. 2.That I have exercised reasonable care to ensure that the Work is original, and to the best of my knowledge, does not breach any laws including those relating to defamation, libel and copyright. 3.That I have, in instances where the intellectual property of other authors or copyright holders is included in the Work, gained explicit permission for the inclusion of that material in the Work, and in the electronic form of the Work as accessed through the open access digital repository, or that I have identified that material for which adequate permission has not been obtained and which will be inaccessible via the digital repository. 4.That Strathmore University does not hold any obligation to take legal action on behalf of the Depositor, or other rights holders, in the event of a breach of intellectual property rights, or any other right, in the material deposited. 5.That if, as a result of my having knowingly or recklessly given a false statement at points 1, 2 or 3 above, the University suffers loss, I will make good that loss and indemnify Strathmore University for all action, suits, proceedings, claims, demands and costs occasioned by the University in consequence of my false statement.
dc.subjectFinance
dc.subjectbanking
dc.subjectKenya
dc.subjectsustainability
dc.titleSustainability in the financial sector in Kenya
dc.typeWorking Paper
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Sustainability in the Financial sector in Kenya.pdf
Size:
292.32 KB
Format:
Adobe Portable Document Format
Description:
Working Paper
Download
Collections
SLS Scholarly Articles