Insurance Regulatory Authority (IRA), in collaboration with FSD Africa and UK Aid, hosted a meeting Themed “Mobilizing Financial Markets for Nature-Positive Growth,” on 5th September 2024, at IRA offices in Upper Hill, Nairobi. The meeting brought together CEOs from key financial regulators including the Capital Markets Authority, Retirement Benefits Authority, Sacco Societies Regulatory Authority, and Nairobi International Financial Centre.

The meeting was part of ongoing efforts by the Joint Financial Sector Regulator (JFSR) to align Kenya’s financial policies with the global shift toward sustainable, environmentally conscious growth.

IRA CEO and Commissioner of Insurance, Mr. Godfrey K. Kiptum, highlighted the importance of developing policies to tackle environmental challenges, particularly in mitigating biodiversity loss. He emphasized that collaboration among financial regulators is critical for building the capacity required to promote sustainable, nature-positive financial products and investments.
The presentations from UNDP Biodiversity Finance Initiative (BIOFIN) and the UK’s Department for Environment, Food, and Rural Affairs underscored the need for Kenya’s financial sector to adopt best global practices in supporting nature-related initiatives.

The forum discussions focused on the preparedness of Kenya’s financial sector to address biodiversity loss and other environmental risks while driving sustainable investments. Necessary actions to close gaps in policy and mobilize private capital toward nature-positive growth were also discussed.