Standard Chartered Bank has partnered with East Africa’s leading Water and Energy Solutions provider Davis & Shirtliff to launch Kenya’s first green financing instrument to support a sustainable, low-carbon and resilient future.
The partnership is aimed at supporting individual clients’ transition to cleaner technologies, harness and scale more climate friendly business practices.
Under the arrangement, Standard Chartered Bank will extend credit facilities to its huge customer base at discounted rates to enable them acquire solar energy and water treatment equipment from Davis & Shirtliff.
The green financing partnership will also see Davis & Shirtliff will offer up to 25% discounts on the products under this portfolio, while Standard Chartered will offer a 12-month repayment by instalment plan.
“We’re partnering with Davis & Shirtliff to introduce the first sustainable finance retail product that will help improve the livelihoods of retail clients across Africa. Standard Chartered will offer discounted personal loans and credit cards to both existing and new clients to finance solar water heaters and water treatment solutions.
We hope that these products will help our client’s transition to renewables
and help facilitate the access to clean water and sanitation,’’ said Standard Chartered Kenya CEO, Ngari Kariuki.
Davis & Shirtliff will offer the equipment at discounted prices to encourage more people take up and adopt use of cleaner and sustainable energy solutions.
“Environmental protection is critical to life and to creating a more sustainable world. Severe factors from climate change, urbanization, pollution and other factors have collectively put millions of lives are at risk and holding back social and economic progress. However, the opportunity to mitigate these issues through innovation and shared purpose are also growing,” said Davis & Shirtliff Group Chairman Alec Davis.
Davis &Shirtliff has lined up its range of smart equipment including, Ultrasun UFS Flat plate solar hot water systems available in various tank sizes and collector configurations to suit domestic and smallscale institutional applications.
The company will also offer customers affordable prices to its range of smart water purifiers for home and industrial use. “By encouraging uptake of smart solutions, we improve livelihoods by enhancing quality of life through ensuring the masses have affordable power and clean water. These are key drivers to lifting up economies from poverty,” said Davis.
The World Economic Forum Global Risk Report 2019 highlights a growing threat to rise in climate related risks. Similarly, the World Bank and United Nations Environment Programme estimates shows, Sub-Saharan Africa requires Sh 500billion- 1trillion […]