FAMILY BANK OFFICIALLY JOINS THE UNITED NATIONS GLOBAL COMPACT NETWORK
By Vera Shawiza
Family Bank officially joined the United Nations Global Compact
network underscoring its commitment to undertaking sustainable
and responsible business to
advance inclusive development. Family becomes the 4th bank to
commit to building a sustainable business in Kenya.
“It gives us great pleasure to join the United Nations Global Compact
network after a rigorous vetting procedure. This
membership reaffirms our commitment to building a sustainable
business and we believe that by joining this Network, Family Bank
will advance corporate sustainability in Kenya. For long-term
business growth and positive social impact, Family Bank will
benchmark against global practices and access technical guidance
and thought leadership from the United Nations Global Compact
network,” said Family Bank CEO Rebecca Mbithi.
This membership is in line with the Bank’s 2020 –
2024 Strategic Plan, dubbed ‘take-off’ that is aligned to 13 of the 17
United Nations Sustainable Development Goals (SDG) and
the United Nations Environment Programme (UNEP) Finance
Initiative on Responsible Banking and Sustainable Financing aimed
at delivering value and creation of a sustainable future for all.
“We pride ourselves in empowering families, the core unit of any
society, through sustainable social investment programmes that
resonate with our customers. Currently, these Shared Value
Initiatives focus on youth via education through High School
scholarships and mentorship programmes, inclusive education for
children with special needs, nurturing sports talent, agribusiness,
construction, Information & Communications Technology (ICT),
water, sanitation and hygiene (WASH) as well as environmental
conservation for climate change adaptation. The Bank has set aside
KES 300M to advance these initiatives through the Family Group
Foundation,” said Family Bank CEO Rebecca Mbithi.
Family Bank joins more than 12,000 member companies in over 160
countries that are aligning their operations and
strategies to universal principles on human rights, labour,
environment and anti-corruption. This membership will facilitate
the Family Bank to take strategic action towards broader societal
goals using a principle-based approach to significantly contribute to
the attainment of the global Sustainable Development Goals (SDGs)
by 2030.
“We want to officially welcome Family Bank, the 4th bank in Kenya
to make a public commitment to adhere to the Ten Principles of
human rights, labour, environment and anti-corruption, to the UN
Global Compact network. This is a true testament that the Bank’s
leadership is taking the necessary steps to advance sustainability,
not just in the Kenyan market, but regionally and globally,” said UN
Global Compact Kenya Network Executive Director Judy Njino.
“We are ready to work with Family Bank and promote its
competitiveness within the global space and provide the necessary
frameworks and best practices on how to internalise the principles
of sustainable business within their strategies and operations,” she
added.
Founded in 2000 as a special initiative of the UN Secretary-General,
the United Nations Global Compact is a call for private
sector companies everywhere to align their operations and
strategies with the Ten Principles in the areas of human rights,
labour, environment and anti-corruption. All participating
companies are required to publicly submit an annual
Communication on Progress (COP) report that details their
respective organization’s activities on the implementation
of these Principles to support the achievement of the global SDGs.
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