Sustainable finance players are backing the new accounting standards and draft Central Bank of Kenya (CBK) rules to prevent unethical firms from making misleading claims on championing for environment-conscious business practices.
The stakeholders say the CKB-backed draft Kenya Green Finance Taxonomy (KGFT) and draft Climate Risk Disclosures Framework—both undergoing public participation—and the adoption of two International Financial Reporting Standards—S1 and S2— will stamp out green washing.
