KCB backing schools’ transition to clean energy
- All secondary schools in Kenya, both public and private, would be able to access KCB funding.
- KCB Foundation will raise between 10% and 30% cost of purchasing LPG system.
- About 90 percent of public schools in Kenya use firewood for cooking.
KCB has unveiled an ambitious plan to extend financial support to learning institutions to transition to clean energy cooking solutions. The undertaking will be carried under the regional lender’s social investment arm, KCB Foundation.
KCB Foundation will contribute between 10 percent and 30 percent of the cost of liquefied petroleum gas (LPG) system. All secondary schools in Kenya, both public and private, would be able to access the remaining funding through pre-arranged financing.
About 90 percent of public schools in Kenya use firewood for cooking. On average, the cost of the wood can reach $20,000 per year, making it one of the highest outlays for school meals.
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The launch of the clean cooking initiative, according to Caroline Wanjeri, head of KCB Foundation, is evidence of the bank’s efforts to help Africa’s push to reach SDG 7. This target seeks universal access to modern energy services for everyone.
Additionally, it will make it possible for it to step up its efforts to encourage the use of clean energy. Clean energy solutions consume less fuel, and restrict smoke emissions. By turning to LPG, schools will help lover the quantity of greenhouse gases released into the atmosphere.
Schools as cornerstone of Kenya’s sustainable future
“Schools have been identified as large contributors to inefficient cooking. They prepare high volumes of meals by consuming over 685,000 tonnes of firewood and charcoal per year. This has drastic consequences on the environment, economic development, and public health. We are therefore keen to position schools as the cornerstone of Kenya’s sustainable future,” Wanjeri said.
The bank has so far given 30 schools Kes60 million loans, while KCB Foundation has provided Kes30 million in grants for the pilot phase.
“By supporting the transition to cleaner fuels like LPG, we shall be enabling learning institutions to realize up to 40% savings in their cooking budget with better health and environmental outcomes, improved kitchen hygiene, and motivation of workers. It will also be an opportunity to build on our existing efforts to widen the range and reach of activities in support of a just energy transition that is partly spearheaded by our own greening programme dubbed “Linda Miti” which has seen us plant over 160,000 trees in 943 schools this year,” Wanjeri added.
