Family Bank has 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.