Lybra supported the Capital Markets Authority of Kenya (CMA) in a comprehensive assessment of ESG adoption across Kenya’s capital markets and the wider market ecosystem.
The work assessed the depth and maturity of ESG adoption, existing standards and reporting practices, stakeholder incentives and barriers, costs and benefits of ESG compliance, and the ESG risks and opportunities facing market participants. It combined market research and stakeholder engagement with benchmarking against international standards and practices, including the IFRS Sustainability Disclosure Standards.
The assessment identified gaps and opportunities across policy and regulation, technical capacity, data, reporting, sustainable finance products and market incentives. It also examined the existing ESG policy architecture and developed recommendations on ESG governance, reporting and assurance, taxonomy development, market support and ESG listing requirements.
The work laid important foundations for the evolution of ESG regulation in Kenya’s capital markets, providing evidence on market practices, regulatory gaps, stakeholder needs and international benchmarks ahead of CMA’s subsequent development of more comprehensive ESG Guidelines.
The engagement demonstrates Lybra’s experience working at the intersection of market assessment, policy development, sustainable finance and practical ESG implementation, helping translate evolving sustainability expectations into frameworks relevant to African financial markets.