ESG

Victoria Commercial Bank PLC champions initiatives that make a positive impact on communities and the environment. Our commitment goes beyond banking rather it is about building a better world. Through our ESG initiatives, we strive to create a positive impact on the environment, society, and governance practices. By integrating sustainability into our core values, we aim to be a catalyst for positive change. Join us on this journey where responsible banking intertwines with Environmental, Social, and Governance (ESG) principles, becoming a force for good, ensuring a more equitable future for generations to come.

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ESG &
SUSTAINABILITY

National Tree Growing Day 2023

Equator Solar Energy Signing

UN Global Compact Network Kenya

Governance &
2X Challenge

Upper Hill - 001
Head Office Victoria Towers
Mezzanine Floor,
Kilimanjaro Avenue, Upper Hill
Phone +254 709 876 100
Email upperhill@vicbank.com

Promenade - 002
The Promenade,
1st Floor
General Mathenge Road
Phone +254 709 876 200
Email westlands@vicbank.com

Lunga Lunga Square - 003
Lunga Lunga Square,
3rd Floor
Lunga Lunga Road
Phone +254 709 876 300
Email lungalunga@vicbank.com

Ruaraka - 004
Abacus House, 4th Floor
Abacus Complex
Baba Dogo Road, Ruaraka
Phone +254 709 876 400
Email ruaraka@vicbank.com

Two Rivers - 005
Victoria at Two Rivers,
7th Floor
Limuru Road
Phone +254 709 876 500
Email tworivers@vicbank.com

Nyali, Mombasa - 006
Nyali Centre,
5th Floor
Links Road
Phone +254 709 876 600
Email nyali@vicbank.com

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Victoria Commercial Bank Secures USD 7.5 Million Green Financing Facility to Support SMEs in Transition to a Low-Carbon Economy

Nairobi, Kenya: 8th September - Victoria Commercial Bank PLC (VCB) has announced the successful closure of a green financing facility with Symbiotics. Symbiotics, the leading market access platform for impact investing, has arranged a USD 7.5M investment funded by the BII Green Basket Bond, a partnership with the British International Investment, UK’s development finance institution and impact investor. The funds will be channelled exclusively into eligible green projects, reinforcing VCB’ s commitment to driving inclusive and sustainable development. The facility supports VCB’s broader strategic ambition to expand its green loan portfolio by 20% by 2030 and strengthens the Bank’s positioning as a sustainable financial institution.

Aligned with international Green Loan Principles, the financing ensures responsible fund deployment, effective impact tracking, and adherence to robust sustainability standards. The funds will primarily support small and medium-sized enterprises (SMEs), the backbone of Kenya’s economy, by enabling their transition to a low-carbon and climate-resilient future.
Through this facility, the bank will provide tailored green financing solutions in high-impact sectors such as climate-smart agriculture, clean transportation, renewable energy, green buildings, infrastructure, and other resilience-building initiatives.

“This facility marks a significant milestone in our journey to finance a greener, more resilient future,” said Poonam Shah. “We are committed not just to providing capital, but to walking alongside our clients as they integrate sustainability into their businesses. Together, we can unlock the full potential of SMEs to drive Kenya’s transition to a climate-smart economy.”

VCB is fully committed to aligning its lending with Kenya’s Green Finance Taxonomy (KGFT), introduced by the Central Bank of Kenya, as well as with Kenya’s revised Nationally Determined Contribution (NDC). These instruments provide the foundation for the country’s transition to allow -emissions, climate -resilient economy and VCB is proud to play a catalytic role in advancing these national priorities.

Beyond financing, the Bank will continue to provide advisory services to clients to help them integrate sustainability into their business models and seize emerging green opportunities. By facilitating subsidized green financing, this partnership strengthens the relationship between VCB and its customers—empowering them to grow their businesses while contributing meaningfully to Kenya’s sustainable development agenda.

This initiative is a significant step in delivering on VCB’s sustainability strategy, financing a greener future, and building a bank aligned with the principles of resilience, climate action, and inclusive economic growth.

For more information, please reach out to:

Tel:0709876000/221,

Email: Servicedesk@vicbank.com

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A Beacon of Responsible Banking

Since 2015, Victoria Commercial Bank Plc, has embraced KBA led Industry Sustainable Finance Initiatives, committing to a sustainable future aligned with local standards and international best practices. Our dedication is focused on developing and contributing towards positive environmental, social, and economic outcomes aligned with Kenya's commitment to Paris Agreement and National determined contributions. The Bank also recognises effective ESG risk management as a competitive and strategic differentiator and has developed an ESG risk management policy informed by our national and international regulatory framework.

Sustainability in Lending & Investment
The Banks lending and investment approach revolves around the Environmental and Social Management Systems (ESMS) process. The policy adheres to IFC Performance standards, ILO standards, and local laws.
The framework ensures that our financial activities contribute to sustainable development, mitigate risks, and maximize opportunities. The process ensures consideration of all environmental and social factors as we aim for positive impacts and resilient, long-term financial returns.

Responsible Banking | Adaptation & Mitigation Strategies
Going beyond profit margins, our commitment to responsible banking includes contributing to adaptation and mitigation strategies. Proactively addressing environmental challenges ensures a secure future and sustained financial prosperity for our clients and stakeholders.

Resource Scarcity & Sustainability
Acknowledging the challenges of resource scarcity, we adopt best practices for sustainable resource management. The bank has aligned Waste management collection to Kenya Sustainable Waste Management Act, 2022. Other Initiatives include circularity and recyclizing of paper waste, promote energy efficiency, and encourage responsible consumption contribute to a more sustainable and resilient global economy.

Environmental Responsibility
The Bank plays a pivotal role and values environmental responsibility seriously. Our bank actively engages in environmentally friendly practices, from minimizing our carbon footprint to implementing nature-based solutions like tree planting and supporting renewable energy projects. Together with our clients, we aim to make a positive impact on the planet.

Partnerships
The banks seeks and actively collaborates with sector players and companies, we forge partnerships as part of our commitment to sustainability. These collaborations leverage collective expertise to address global challenges and create lasting positive impacts. Partnerships include initiatives such as solar referrals to clients, reducing energy costs, and promoting renewable energy and circular economy practices.

Social & Economic Responsibility
We are committed to promoting social welfare, community development, and financial inclusion. The bank promotes staff training on mental health, occupation health & safety to enhance safe working spaces.

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National Tree Growing Day 2023

In a resounding act of environmental responsibility, Monday, the 13th of November, etched a remarkable chapter in our journey as a of the staff of Victoria Commercial Bank PLC staff participated wholeheartedly in the National Tree Growing Day initiative through planting of seedlings. Amidst the complex challenges our global ecosystem confronts, this initiative emerges as a powerful symbol of our commitment to the planet. Each tree planted serves as a tangible investment in a future characterized by sustainability and well-being for generations to come. As we witness these seedlings evolve into mighty contributors to our ecosystem, let us stand resolute in our dedication to fostering a greener and healthier planet. Our actions today resonate far beyond our immediate surroundings, echoing on a global scale, and broadcasting a compelling message of unity and shared responsibility. Let this day etch in our collective consciousness a potent reminder that, together, we wield the transformative power to forge a lasting impact and craft a world where the vibrancy of nature harmonizes with our progress.

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Equator Solar Energy Signing

VCB signed a partnership agreement with Equator Energy to help clients transition towards a clean and affordable energy pathway through solar uptake.

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UN Global Compact Network Kenya

Victoria Commercial Bank has been an active member of the United Nations Global Compact, a pact to get businesses worldwide to adopt sustainable and socially responsible policies since June 2021. Seen above are staff of Victoria Commercial Bank receiving the Bank’s annual membership certificate from the Participant Engagement Manager of Global Compact KE, Mr. Harun Mukiiri.

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Governance & 2X Challenge

Victoria Commercial Bank actively meets the 2X Challenge at the Board, EXCO and staff levels in regard to the women to men ratio on leadership. The 2X Challenge is an initiative launched at the G7 summit in 2018 by the G7 Development Finance Institutions which calls on DFIs to collectively commit and mobilize funds that provide women in developing countries markets with improved access to leadership opportunities, quality employment, finance, enterprise support and products and services that enhance economic participation and access. Recognizing the importance of contributing to SDG Goals, we have adopted and expanded our impact measurement to include key goals aligned with our 5-year strategy.

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