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CBK gives banks a year to effect rules

CBK Governor Patrick Njoroge. [File, Standard]

Commercial banks and mortgage finance institutions have until June 2023 to fully comply with environmental, social and governance considerations in their operations. This is after the Central Bank of Kenya (CBK) issued guidance on climate-related risk management.

In a statement, CBK said it expects financial institutions to integrate climate-related risk management into their business decisions and activities and develop an approach on disclosure of the financial risks from climate change.

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