PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

606930

Primary Business Area

Financial Institutions Group

Disclosure Date

Feb 6, 2024

Country

Kenya

Region

Africa

Status

Active

Estimated Total Budget

$1,500,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Feb 7, 2024

Project Estimated Start Date

Feb 28, 2023

Project Estimated End Date

Sep 30, 2025

Project Description

The project is structured into 4 components and given the breadth and depth of Climate risks analytics, and climate risk related financial disclosure, the team anticipates that a diversity of skill sets will be required. The program will also play a key role in supporting IFC clients in their pathway towards Paris Alignment and in meeting IFC's corporate commitment targets. Wherever needed, the team will tap into other IFC and WB resources to implement the activities under the three components as follows. - Component 1: Knowledge building and tools customization for Africa. This component will focus on building knowledge on climate risk analytics, climate risk assessments, and best practices in climate risk management. It will also help to develop or tailor tools relevant to African countries and prioritized sectors to help the banking sector to evaluate/screen transition risks, physical risks and identify climate smart investment opportunities. Activities include webinars, training workshops, skill training for bankers, tool development and testing. FIG team will coordinate closely with internal resources (the Climate Business Department, ESG Department, and EFI) and external resources (UNEP, TCFD, UNSSE, etc.) in the implementation of this component. - Component 2: Institutional capacity building for FIs through direct one-one one engagements to support them in Climate risk assessment and disclosure - Component 3: Support to targeted FIs to become Paris Accord (PA) Aligned - Component 4: Development of lessons learned, and a FIG climate AS toolkit or guidance note for banks, and monitoring the maturity/progression level of climate risk reporting/disclosure in Africa though survey and knowledge products in the target countries

Development Results

E&S Risks / Impacts and Mitigation