NAIROBI, June 23, 2026 — Nearly US$ 5 billion in annual remittances from the Kenyan diaspora is set to support climate solutions through a new initiative that creates a direct pathway for savings to finance renewable energy, water access, climate-smart agriculture and green housing projects via savings and credit cooperative organisations [SACCOs].
The programme was developed by the World Council of Credit Unions [WOCCU] and the Irish League of Credit Unions International Development Foundation [ILCU Foundation], with support from the African Confederation of Cooperative Savings and Credit Associations [ACCOSCA] and funding from the Climate Finance Fund, hosted by the European Climate Foundation.
WOCCU led the technical design and implementation of the initiative, enabling participating SACCOs to develop and launch climate-focused deposit products tailored to diaspora members.
More than three million Kenyans living abroad send billions of dollars home each year. While these remittances play a critical role in supporting households and local economies, they have historically lacked dedicated channels for investment in climate mitigation and resilience.
The pilot seeks to bridge that gap by enabling diaspora members to direct their savings into climate-related projects within their home communities.
Three SACCOs — Stima SACCO, K-Unity SACCO and Kenya USA Diaspora SACCO — have already introduced climate deposit products, offering competitive returns alongside transparent reporting on how funds are deployed and the impact they generate.
Early investments are supporting solar energy systems, irrigation and water infrastructure, climate-smart agriculture, and green housing developments.
“This model demonstrates how credit unions connect global capital to local climate solutions in a way that is both accessible and impactful,” said Eileen Miamidian, Technical Director of Inclusive Financial Services at WOCCU.
“With billions in annual remittances, diaspora savings represent a significant opportunity to finance the types of investments communities need most.”
Alan Moore, Chief Executive Officer of the ILCU Foundation, said the initiative reflects the cooperative movement’s core values.
“This initiative reflects the very best of what the global credit union movement stands for — people helping people,” Moore said.
“With the support of Irish credit unions, the ILCU Foundation is proud to help connect diaspora communities with meaningful climate action at home, turning everyday savings into a force for resilience, sustainability and shared prosperity.”
Kenya is considered well positioned for the model. The country’s SACCO sector serves more than seven million members and has deep roots in communities vulnerable to climate-related shocks, which are estimated to cost the economy between 3 and 5 per cent annually.
Many SACCOs already offer climate-related financing products, providing a strong foundation for expanding climate-focused savings schemes.
The pilot is intended to test and refine a scalable model. By July 2026, participating SACCOs are expected to open more than 200 new accounts, with early demand indicating strong interest among diaspora members for climate-linked financial products.
WOCCU’s technical support included market research across key diaspora corridors, product design and feasibility analysis, as well as capacity building to strengthen governance, climate impact monitoring and operational systems.
The initiative also facilitated partnerships with remittance platforms and digital onboarding providers to improve accessibility for diaspora members.
Implemented between July 2025 and April 2026, the project was led by the ILCU Foundation, with WOCCU overseeing technical design and execution.
Lessons from the pilot are expected to inform future efforts to expand climate-focused savings and investment models across additional remittance corridors, helping to scale access to sustainable finance across the global credit union network.
https://thecooperator.news/kenya-to-host-atidis-26th-agm-following-quarter-century-anniversary/
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