Patrick Njoroge: The importance of green finance guidelines as Nairobi seeks to become a global hub

Keynote address by Dr Patrick Njoroge, Governor of the Central Bank of Kenya, at the launch of NSE listing rules incorporating listing requirements for green bonds, Nairobi, 20 February 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good morning!

First, I want to thank Geoffrey Odundo for getting me out of the office on this fine Wednesday morning. I had a choice between attending a meeting in my office - which overlooks a car park, by the way - and joining you, not just for breakfast, but to breathe some fresh air. This was a good choice of hotel, seeing as it is located in Central Park, which partly serves as a lung for this busy city. When I was appointed to this position, one of the things I sought was regular respite from the pressures of the job. I have told many of you the story before, of how Karura Forest and my Saturday morning runs there help clear my head. Some of you may have joined me on these runs.

I'm not just re-telling this story to prove my running credentials. Karura's existence, and the dogged work put in by the late Professor Wangari Maathai, brought home to Kenyans the value of protecting the environment. I need not remind you that she was also instrumental, three decades ago, in protecting Uhuru Park just next door, and keeping it safe for the people of Nairobi to use. This was years before climate change and environmental protection became buzzwords.

Kenya was a leader in proving the fact that the environment matters.