Original scientific paper

https://doi.org/10.7906/indecs.24.5.10

Climate Change Risk Management in the Banking Industry – Case Study of South Africa and Kenya

Janos Besenyo orcid.org/0000-0001-7198-9328 ; Óbuda University, Budapest, Hungary
Tamas Somogyi orcid.org/0000-0003-1397-697X ; Óbuda University, Budapest, Hungary *
Rudolf Nagy orcid.org/0000-0001-5108-9728 ; Óbuda University, Budapest, Hungary

* Corresponding author.

Abstract

Climate change is recognised as a serious concern that jeopardise the essential services. Although the effects of climate change have been extensively studied, its impact on the banking industry has received scant attention. The aim of this article is to provide an overview of the climate change risk management in the banking industry in South Africa and Kenya through the lenses of the central banks. This paper analyses policy measures and approaches in these countries. Elements of content analysis were used within the qualitative research framework where relevant literature and sector-specific data was analysed.
The results demonstrate that the examined entities are aware of the risks and of their social responsibility. Banks are motivated to discover new types of activities, assets and products in order to support the effort of keeping the global temperatures within an acceptable range. However, the banking industry could do further work. Thus, recommendations are provided, which may be useful for the stakeholders and policymakers.

Keywords

South Africa; Kenya; climate change; risk management; banking industry

Hrčak ID:

349660

URI

https://hrcak.srce.hr/349660

Publication date:

30.10.2026.

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