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Green finance players bank on CBK rules to curb greenwashing
A green finance taxonomy is a classification system that highlights which investments are environmentally sustainable and, by extension, which are not.
Stakeholders in the country’s sustainable finance landscape are now banking on the Central Bank of Kenya (CBK) generated Draft Green Finance Taxonomy, Draft Climate Risk Disclosures Framework and adoption of International Financial Reporting Standards (IFRS) S1 and S2 to weed out rogue elements engaging in greenwashing.
Greenwashing refers to tactics used to misguide the public into believing that an entity is doing more than it actually is in aligning its day-to-day practices with sustainability goals.
