In Summary:
- Kenya Bankers Association (KBA), in collaboration with the Institute of Certified Public Accountants of Kenya (ICPAK), WWF-Kenya, and FSD Kenya, has launched a standardized reporting template for IFRS S1 and S2 disclosures.
- The new template is designed to align Kenyan banks with international standards
Nairobi, April 23, 2025 – The Kenya Bankers Association (KBA), in collaboration with the Institute of Certified Public Accountants of Kenya (ICPAK), WWF-Kenya, and FSD Kenya, has launched a standardized reporting template for IFRS S1 and S2 disclosures.
The initiative aims to streamline sustainability and climate-related risk reporting across the banking sector in Kenya.
The new template is designed to align Kenyan banks with international standards while enhancing transparency and enabling better-informed decision-making. It is built around four key pillars: governance, strategy, risk management, and metrics and targets—helping banks integrate sustainability and climate risk considerations into their operations.
Speaking at the launch, KBA CEO Raimond Molenje praised the International Sustainability Standards Board (ISSB) for spearheading efforts toward a unified global reporting standard.
“I commend ICPAK for leading the adoption of IFRS S1 and S2 in Kenya. This template will be instrumental in guiding banks through sustainability-related financial reporting and climate disclosures,” he said.
Tamara Cook, CEO of FSD Kenya, emphasized the template’s potential to attract climate finance and bolster investor confidence.
“By aligning with global benchmarks, this tool empowers Kenyan banks to deliver transparent and consistent sustainability reports, supporting the country’s transition to a greener, more inclusive economy,” she stated.
ICPAK CEO, CPA Dr. Grace Kamau, hailed the development as a major milestone for the financial sector.
“This template enhances the consistency and credibility of sustainability disclosures. It marks a bold step in aligning Kenya’s financial sector with international sustainability frameworks while building resilience against climate risks,” she noted.
