International Finance Corporation (IFC) has named Equity Bank as the top global performer in climate financing in its Climate Assessment for Financial Institutions (CAFI) Awards.

 Equity Bank reported the highest number of transactions for climate-related financing among the 258 participating financial institutions globally in the ranking.

The IFC created CAFI to enable its clients and partners in 210 countries to report on their financing activities for climate-related projects.

The support ranged from climate loan facilities as low as Kes 6,000 for purchasing energy-efficient cookstoves in the retail sector to as high as Kes 8.54 billion to finance renewable energy distribution from renewable sources, including hydro, geothermal, and wind.

These efforts have resulted in an overall reduction of 39,917.4 tonnes of CO2 annually.

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“By being recognized as the Bank with the most transactions, Equity is creating a broader impact and reach for local communities and businesses,” Equity Group Managing Director and CEO James Mwangi said.

“The Bank continues to work towards supporting Kenya’s goal of combating climate change by reducing its carbon emissions by 32% by 2030 and building resilience, as outlined in the National Determined Contribution.”