Kenya’s Wealthy Embrace Green Investments, Knight Frank Survey Shows » Capital News
NAIROBI, Kenya May 1 – A new survey by Knight Frank’s annual report for 2024 has revealed that over 90% of Kenya’s affluent demographic have embraced green thinking in their investment strategies.
Among these individuals, a substantial 60% are actively seeking renewable energy solutions, such as solar panels, to integrate into their properties.
The findings, drawn from insights provided by private bankers and wealth advisors, underscore a growing trend towards environmental consciousness.
Notably, 46% of respondents now meticulously evaluate the environmental impact of their assets.
Mark Dunford, CEO of Knight Frank Kenya, emphasizes the urgency of this shift, citing the escalating global climate crisis marked by rising temperatures, erratic weather patterns, and extreme weather events like droughts and cyclones.
Kenya’s high-net-worth individuals are outpacing the global average in their commitment to green investments, a trend that aligns seamlessly with the nation’s position as a leader in renewable energy adoption.
This shift mirrors Kenya’s ambitious target to reduce its carbon footprint by 32% by 2030, a commitment that resonates strongly with the country’s elite.
President Ruto’s advocacy for climate action further amplifies this momentum, positioning Kenya at the forefront of the global green movement. Ruto’s recognition by Time Magazine as one of the 100 influential Climate Leaders in 2023 underscores Kenya’s commitment to sustainability and environmental stewardship.
The report also reflects on Kenya’s proactive approach to climate advocacy, exemplified by its hosting of the inaugural Africa Climate Summit in September 2023.
This landmark event brought together leaders, experts, and stakeholders from across the continent to confront pressing climate change challenges head-on. Notably, African countries secured substantial climate financing deals totaling $23 billion during the summit, signaling a collective commitment to sustainable development and environmental resilience.
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