Kenya Power launches its sustainability strategy

Kenya Power has launched its Sustainability Strategy that provides a roadmap for the entrenchment of sustainable business operations in the utility.

The strategy was launched at the Nairobi Arboretum in Nairobi in a function where the United Nations Global Compact Network Kenya Executive Director Judy Njino was the chief guest.

The company, which announced a record net profit of Ksh30.08 billion in the year to June 2024, says the strategy will drive the implementation of measures to reduce environmental carbon footprint, prioritization of inclusivity and well-being of the company’s stakeholders.

To reduce carbon emissions, the strategy features four main priority areas namely:

• E-mobility –Kenya Power targets to develop a network of e-charging stations across the country to foster the adoption and sustainable use of Electric Vehicles.
• E-cooking – the company says it will achieve this through adoption and promotion of affordable electric gadgets with lower electricity consumption and clean cooking options for Kenyans.
• Clean energy sourcing – the utility targets to progressively eliminate the non-renewable fuel component in electricity production. Currently over 92% of Kenya’s electricity is produced by clean and renewable energy sources including; geothermal, hydro, solar, and wind.
• Eco-friendly Infrastructure – guided by SDG Goal 12 on Responsible Consumption and Production, Kenya Power says it will progressively seek to eliminate the use of materials that are harmful to the environment or lead to the negative exploitation of the environment.

The Sustainability Strategy will guide us to anchor our operations as a responsible corporate citizen on reliable short-term and long-term activities that will enable us to remain responsive to emerging challenges such as climate change

kenya power managing director dr jospeh siror

The launch of the strategy comes at a time when the Nairobi Securities Exchange (NSE) has been pushing to promote environmental, social, and governance (ESG) reporting by listed companies. Kenya Power, in which the government owns a 50.1% stake, is listed on the NSE.

In November 2021, the NSE published the ESG Disclosures Guidance Manual, providing guidelines for listed companies on how to collect, analyze, and disclose ESG information. The manual aims to help investors, owners, and the public understand a company’s performance and activities beyond its financial numbers.

However, the uptake of ESG reporting by firms listed on the bourse remains low. As of December 2023, only one in four NSE-listed firms were compliant with ESG reporting and disclosures. 

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