Introduction to Climate Change Risk Management (CCRM)

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What is climate change?

It’s the increase in the average temperature and weather patterns of the planet.

Greenhouse gases from human activities are the most significant driver of observed climate change since the mid-20th century.

What is the Greenhouse Effect?

The greenhouse effect is the natural process by which absorption of heat keeps our planet warm enough to sustain us.

What are the consequences of global warming?

What is being done about climate change globally?

  1. The Net Zero Challenge

The United Nations came up with the Net Zero challenge through the Intergovernmental Panel on Climate Change (IPCC). The initiative seeks to balance the amount of greenhouse gases released into the atmosphere by human activity, with what is removed.

What is net zero? Put simply, net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance.

Why Net Zero? The IPCC has confirmed that global warming of 2ºC will be exceeded in the 21st century unless deep reductions in GHG emissions occur in the coming decades. Warming in excess of 2ºC  is expected to usher in an era of catastrophic adverse climate changes that will be impossible to reverse. All sectors of society need to decarbonize to collectively reach Net Zero emissions by 2050.

Click here to learn more

2. COP 26- Glasgow Climate Pact

The UN Climate Change Conference in Glasgow (COP26) brought together 120 world leaders and came up with the COP 26- Glasgow Climate Pact.

Click here to learn more on the COP 26- Glasgow Climate Pact

What is being done about climate change in Kenya?

  • Kenya passed the Climate Change Act 2016 which establishes a National Climate Change Council, chaired by the President.
  • Kenya launched its 2nd 5 yr National Climate Change Action Plan (NCCAP), 2018-2022, with the following key focus areas – Disaster Risk Management, Food & Nutrition, Water & Blue economy, Forestry_Wildlife & Tourism, Health & Sanitation, Manufacturing, Energy & Transport
  • The Central Bank of Kenya issues the Guidelines on Climate-Related Risk Management (CRRM) in Oct 2021, in order to entrench climate risk management in bank operations and business models.

What is the role of Banks in climate change?

Cost of Credit

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Key Facts Document

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CRS: What You Need to Know

The Common Reporting Standard (CRS) is a global initiative aimed at combating tax evasion and ensuring tax system integrity across participating countries. As part of this standard, we at ABC Bank, along with all other financial institutions, are required to gather and report specific information about your tax residency status. This includes details about your accounts and financial activities. To help you navigate these requirements and understand how they may impact you, we have provided a comprehensive overview of CRS and its implications. To review the Frequently Asked Questions (FAQs) on CRS, please click here.


FATCA Statement

FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. ABC Bank is FATCA compliant in all its operations. To find out more about FATCA and how it affects you, please contact any of our branches or offices. We may contact you to request further information or documentation in order to verify your tax status under FATCA. For more information on FATCA, click here.
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