NAIROBI, Kenya–Nearly $5 billion in annual remittances from the Kenyan diaspora is being mobilized to support climate solutions through a new pilot program that creates a direct pathway for savings to finance renewable energy, water access, climate-smart agriculture and green housing projects through savings and credit cooperatives (SACCOs), according to the World Council of Credit Unions.
WOCCU said it developed the initiative along with the Irish League of Credit Unions International Development Foundation (ILCU Foundation), with support from the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA). WOCCU added it led the technical design and implementation, 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,” the World Council said. “While these funds play a critical role in supporting families and local economies, they have historically lacked dedicated pathways for investment in climate mitigation and resilience. This pilot addresses that gap by enabling diaspora members to channel their savings directly into climate-related projects in their home communities.”
Three SACCOs Launch Products
According to the World Council, three SACCOs—Stima, K-Unity and Kenya USA Diaspora SACCO—have already launched climate deposit products, offering competitive interest rates alongside transparent reporting on how funds are used and the impact they generate. Early investments are supporting solar energy systems, irrigation and water infrastructure, climate-smart agriculture and green housing initiatives, the organization added.
“This model demonstrates how credit unions connect global capital to local climate solutions in a way that is both accessible and impactful,” Eileen Miamidian, technical director of inclusive financial services at WOCCU, said in a statement. “With billions in annual remittances, diaspora savings represent a significant opportunity to finance the types of investments communities need most.”
Added Alan Moore, CEO of the ILCU Foundation, in a statement, “This initiative reflects the very best of what the global credit union movement stands for—people helping people. 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.”
‘Well-Positioned for Approach’
The World Council said Kenya is “well positioned” for this approach, as the country’s SACCOs serve more than seven-million members and have deep roots in communities facing climate-related shocks, which cost an estimated 3%-5% percent of the economy each year. Many SACCOs already offer climate-related financing products, creating a strong foundation for scaling climate-focused savings, WOCCU added.
“The pilot is designed to test and refine a scalable model,” WOCCU said. “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 said its technical implementation included market research across key diaspora corridors, product design and feasibility analysis, and capacity building to strengthen governance, climate impact tracking and operational systems. The initiative also facilitated partnerships with remittance platforms and digital onboarding providers to improve access for diaspora members.
About the Initiative
The initiative was implemented between July 2025 and April 2026, with the ILCU Foundation serving as lead partner and WOCCU leading technical design and implementation.
“Insights from the pilot will inform future efforts to expand climate-focused savings and investment models across additional remittance corridors, helping scale access to sustainable finance within the global credit union system,” WOCCU reported.
