Climate change is one of the major phenomena affecting the well-being of mankind globally. It has increased the frequency and magnitude of extreme weather events, impacting lives and livelihoods in significant ways. In recognition of the challenges and opportunities presented by climate change to the global economy, the Central Bank of Kenya (CBK) has developed Guidance on Climate-Related Risk Management for the banking sector. The aim of the Guidance is to sensitize the banking sector on mitigation of climate-related risks and harnessing of opportunities. It also offers guidance on the development and implementation of appropriate climate-related strategies and policies. The Guidance can be accessed here…
