SUSTAINABLE GREEN LOANS AND LONG TERM INVESTMENTS RELATED TO CLIMATE CHANGE AMONG COMMERCIAL BANKS IN KENYA
Abstract
Climate change is considered as a more than just an environmental danger since it affects so many economic sectors; it is also anticipated to worsen. The goal of this study was to look at the present condition and developments in green and climate financing techniques used by Kenyan commercial banks. The need to address social, economic, and environmental issues while generating new ideas and best practices is central to the concept of sustainability. Economic growth is made more sustainable by taking into consideration social and environmental problems. The main objective of the study was to evaluate the sustainable green loans and long term investments related to climate change among the commercial banks in Kenya. The study was anchored on; contingency theory, innovation theory and conspiracy theory. Exploratory research design was employed for the study. The population target was made of 39 commercial banks and purposive sampling was applied where by, all the mentioned 39 banks were considered for the study since it was manageable. Data was gathered through excel sheet for secondary data collection. The analysis of both descriptive and inferential statistics of the study was based on STATA which was the computer software package applied during the study. The results of the study after the analysis indicated sustainable green loans had significant effect on long term investments related to climate change among commercial banks in Kenya.
Key words: Sustainable Green Loans, Climate Finance Practices, Long Term Investments
CITATION: Wabwile, A. W., & Njuguna, P. (2024). Sustainable green loans and long term investments related to climate change among commercial banks in Kenya. The Strategic Journal of Business & Change Management, 11 (1), 198 – 212. http://dx.doi.org/10.61426/sjbcm.v11i1.2848
Full Text:
PDFReferences
Adeniran, A O, and Oluwabukunmi E O. (2020). The significance of strategic management accounting on the performance of transport businesses in Nigeria. Insights Into Regional Development 2: 5.
Albamonte D.,(2017) Le nuove norme sulla cartolarizzazione dei crediti, Banca d’Italia, Notes on Financial Stability and Supervision, N. 10,
Amla, Hajira (2015): Swapping Seychelles debt for ocean conservation – milestone agreement reachedwithParisClubcreditors,http://www.seychellesnewsagency.com/articles/2463/Swapping+Seychelles+debt+for+ocean+conservation++milestone+agreement+reached+with+Paris+Club+creditors, (download: 27.08.2015)
AVPN (2022), Scaling up Blended Finance in Developing Countries and LDCs: AVPN members’ response to the OECD Scoping Note for the G20 DWG
Benedetti Valentini, F.; Ward, R.(2018) BNP to Halt Shale Oil Financing, Expand Funds for Renewables,Bloomberg2017.Availableonline: https://www.bloomberg.com/news/articles/2017-10-11/bnp-paribas-to-halt-shale-oil-financing-in-climate-change-pledge.
Bird, N. (2017). Budgeting for NDC action: initial lessons from four climate-vulnerable countries.CDKNWorkingpaper.Availableat:https://cdkn.org/wpcontent/uploads/2017/09/National-budgeting-for-NDCs_web.pdf
BMU (2019). The International Climate Initiative (IKI). Federal Ministry for the Environment, Nature Conservation and Nuclear Safety. Available at: https:// www.international-climateinitiative.com/fileadmin/Dokumente/2019/20191021_The_International_Climate_Initiative.pdfClimate Bonds Initiative, (2018). Green Bond Highlights (2017)
Climate Funds Update,( 2022), “The Principles and Criteria of Public Climate Finance—A NormativeFramework”.Availableat:https://climatefundsupdate.org/wpcontent/uploads/2022/03/CFF1-Normative-CF-Framework_ENG-2021.pdf (accessed in April 2022).
Climate Policy Initiative (2019). Global Landscape of Climate Finance in 2019. Available at: https://climatepolicyinitiative.org/publication/global-landscapeof-climate-finance-2019/
D. Reiche and M. Bechnerger, “Policy differences in the promotion of renewable energies in the EU member states,” Energy Policy, vol. 32, 2004
Fenton, A., Wright, H., Afionis, S., Paavola, J., Huq, S. (2014). Debt relief and financing climate change action. Nature Climate Change, 4(8), 650-653.
Gardiner, Ann, et al.(2016) Public-Private Partnerships for Climate Finance, Nordic Council of Ministers. ProQuest Ebook Central, http://ebookcentral.proquest.com/lib/kcau
Goldenberg, Suzanne (1 March 2010). "US Senate's top climate sceptic accused of waging 'McCarthyite witch-hunt'". The Guardian. Retrieved 7 July 2015
Griffiths, Jenny; Mala Rao; Fiona Adshead (2009). The health practitioner's guide to climate change: diagnosis and cure. Earthscan. p. 228. ISBN 978-1-84407-729-8.Hallegatte, Stephane; Clement, Viviane Wei Chen; Siddiqi, Sundus Naeem; Winglee, Michelle Anne.
Hallegatte S, M, Bonzanigo L, Fay M, Kane T (2016), et al. Shock Waves: Managing the Impacts of Climate Change on Poverty. Washington, DC: World Bank; 2016. Available from: https:// openknowledge.worldbank.org/handle/10986/22787
Hörisch, J. (2013), “Combating climate change through organisational innovation: an empirical analysis of internal emission trading schemes”, Corporate Governance, Vol. 13 No. 5, pp. 569-582.IMF. (2009). World Economic Outlook. International Monetary Fund.
IPCC: (1988), WMO/UNEP Intergovernmental Panel on Climate Change: Report of the First Session, WCP TD-No. 267, Geneva, 9-11 November.
J. Uscinski et al(2022). Cause and effect: On the antecedents and consequences of conspiracy theory beliefs Current Opinion in Psychology.
Jan Burck, F.,( 2016.) Climate Change CCPI Performance Index - Results 2017, Germanwatch. Germany. Retrieved from https://policycommons.net/artifacts/1555059/climate-change-ccpi-performance-index/2244868/ on 12 Jul 2023. CID: 20.500.12592/cp5tx7.
Lewis, E.; Pinchot, A.; Christianson, G(2020). Navigating the Sustainable Investment Landscape; Working Paper; World Resources Institute: Washington, DC, USA, 2016. Available online: http://www.wri.org/publication/ sustainable-investment-landscape
M. Wolsink(2000), “Wind power and the NIMBY-myth: Institutional capacity and the limited significance of public support,” Renewable Energy, vol. 21, 2000
OECD (2009), Climate Change and Development: Key Principles to Inform Climate Change Financing
Powell, L ( 2019). "Scientists Reach 100% Consensus on Anthropogenic Global Warming". Bulletin of Science, Technology & Society. 37 (4): 183–184. doi:10.1177/0270467619886266. S2CID 213454806. Retrieved 15 November 2020.
Robert G. Watts (20020, Cambridge University Press. Innovative Energy Strategies for CO2 Stabilization ProQuest Ebook Central, http://ebookcentral.proquest.com/lib/kcau-ebooks/detail.action?docID=217944.
Scholtens, B. (2006) Finance as a Driver of Corporate Social Responsibility. J. Bus. Ethics 2006, 68, 19–33.
Skovgaard, J. (2021). Climate Finance. In The Economisation of Climate Change: How the G20, the OECD and the IMF Address Fossil Fuel Subsidies and Climate Finance (pp. 145-216). Cambridge: Cambridge University PressThe Denial Machine - synopsis". CBC/Radio-Canada. 24 October 2007. Archived from the original on August 14, 2011. Retrieved 3 September 2011.
Stout S (2022). Unlocking Private Sector Adaptation Finance. Climate Policy Initiative; Weblog. [Online]. Available from: https://www.climatepolicyinitiative.org/unlocking-private-sector-adaptation-finance
The Guardian(2017). Deutsche Bank Pulls Out of Coal Projects to Meet Paris Climate Pledge. Available online: https://www.theguardian.com/business/2017/feb/01/deutsche-bank-pulls-out-of-coal-projects-to-meet-paris-climate-pledge (accessed on 23 December 2018).
World Bank Group(2021). Resilience Rating System: A Methodology for Building and Tracking Resilience to Climate Change. Washington, DC:. Available from: https://openknowledge. worldbank.org/handle/10986/35039
World Development Report, (2010), Development and Climate Change, Chapter 6, “Generating the Funding Needed for Mitigation and Adaptation” (Washington: World Bank)
Yoshiki Y & Yang G ( 2013). "A contingency theory of policy innovation: how different theories explain the ratification of the UNFCCC and Kyoto Protocol," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 13(3), pages 251-270, September.
DOI: http://dx.doi.org/10.61426/sjbcm.v11i1.2848
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.
PAST ISSUES:
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.