September 2nd, 2025

Opening session

Day 1 of the Green Finance Kenya 2025 Roundtable opened with Tamara Cook, CEO of FSD Kenya, highlighting the critical role of green finance in driving sustainable, inclusive growth. She shared that Kenya needs $55 billion to develop a robust green finance ecosystem. Find Tamara’s presentation below.

FinAccess data shows that while 41% of rural households are already investing in climate initiatives, many still rely on firewood, and climate-related shocks continue to intensify. Tamara spotlighted the $50M Nanyuki Bulk Water Project, a public-private partnership ensuring safe water access for 85,000 people and 23,000 households, illustrating the social, economic and resilience impacts achievable through inclusive financing.

Bodo Immink, Country Director at GIZ Kenya, emphasised the urgency of scaling climate adaptation and green finance for SMEs and communities across Kenya and Africa. He highlighted the need for innovative solutions and private sector investment to reduce climate risk while creating resilient green economies. By mobilising climate capital and supporting MSMEs, GIZ aims to catalyse green job creation and strengthen sustainable development, stressing the importance of partnerships and collaborative ecosystems.

Paul Muthaura, Programme Investment Committee (PIC) member at FSD Kenya, encouraged stakeholders to collaborate and ignite conversations that will transform Kenya’s green economy, reinforcing the roundtable’s role in advancing continental climate action.

Leigh Stubblefield, Development Director at the British High Commission Nairobi, reflected on progress since the first Africa Climate Summit, highlighting Africa’s centrality in global climate solutions, the UK’s climate finance commitments, and the importance of connecting bankable projects to the right investors to scale access to clean energy and green infrastructure.

The Principal Secretary for Public Investments and Asset Management, National Treasury and Economic Planning, Mr. Cyrell Wagunda Odede representing CS John Mbadi, EGH, Cabinet Secretary, National Treasury, highlighted Kenya’s commitment to green finance through innovative policies and fiscal instruments. He emphasised the Vision 2030 green initiatives, including credit guarantee schemes for MSMEs, enterprise funds for youth and women, green bonds, and debt-for-nature swaps.

Ogunda stressed transitioning from traditional financing to innovative structures that remove barriers, increase absorption capacity, and provide predictable, policy-driven investment frameworks for climate action.

The morning set a strong foundation for scaling Kenya’s green economy, showcasing how policy, regulation, private sector engagement, and innovative finance can come together to accelerate sustainable investment, strengthen resilience, and create long-term economic and social impact.

Fireside chat: Scaling Kenya’s green economy: accelerating sustainable investments for a resilient future 

Dr. Yvonne Maingey-Muriuki reflected on her five-year engagement with FSD Kenya, noting that the climate crisis is becoming increasingly personal. For her, climate risks are not abstract projections but pressing realities. She emphasised the financial and social costs of the climate transition and described her efforts to help farmers understand how climate change is transforming agriculture into a business challenge, one that requires preparation and adaptation.

The discussion turned to the role of financial institutions, whereas banks and other intermediaries, continue to struggle with the practicalities of generating, structuring and disbursing green finance. A clear roadmap for scaling such capital flows remains elusive.

She contextualised the challenge by pointing to Kenya’s financing needs. The 2022 Nationally Determined Contributions (NDCs) estimate that the country will require $40.2bn by 2030 $17.7bn for mitigation measures and $22.5bn for adaptation, including efforts to address loss and damage.

While some $2bn had already been mobilised as of 2018, the vast majority of financing needs remain unmet. Kenya intends to raise 19% of this capital domestically, while the remaining 81% will need to come from international sources. Despite Kenya being relatively advanced within the IFC’s Sustainable Banking and Finance Network, knowledge gaps persist in tracking flows, assessing impact, and ensuring the effectiveness of green finance.

Still, the structural challenges are stark. Climate-aligned lending constitutes only a small share of a bank’s portfolios. Pipelines of bankable projects remain weak, and a taxonomy framework for green finance while emerging has yet to be fully operationalised.

Concluding the fireside chat, Mugwe Manga, Senior Green Finance Advisor,  FSD Kenya, reflected on the value of green finance for institutions, noting that scale and sustainability cannot be achieved in isolation.

Dr. Yvonne emphasised that financial institutions must collaborate to jointly fund data and mapping to strengthen market intelligence. Her call to action to all young professionals is to strive to connect with organisations, build their skills, and boldly create the space for broader participation in green finance.

Panel 1 – Unlocking green finance through effective policy and regulation 

Panel 2: Mobilising private capital for climate adaptation – from case to capital 

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