Commercial bank of Egypt (CIB), leading private sector bank in Egypt, commits to take an active role in creating a more sustainable future pursuing a goal of economic development that will continuously improve its business results while guaranteeing environmental protection.
CIB recognises the direct and indirect impacts on the environment arising from the bank's own operations and is fully committed to minimising these impacts where and when possible and through the promotion of a culture of environmental protection in all its sphere of influence, particularly among employees, clients and suppliers.
We have set clear objectives and we will regularly and publicly report on our progress.
POLICY AIM & SCOPE
The Policy for the Environment and Climate identifies the guiding principles of the company's strategy and goals vis-à-vis the environment and climate change. Our goal is to create a robust framework for the management of our environmental impacts that identifies and manages risks and opportunities that may affect the development of our core business and our ability to create long-term value.
MAIN AREAS OF INTERVENTION
In order to make the Policy operational and pursue a satisfactory environmental performance, CIB has identified areas of intervention for which specific indicators and targets will be selected and disclosed.
- COMPLIANCE: CIB is committed to comply with all relevant environmental legislation, regulations and approved codes of practice;
- REDUCTION OF THE ENVIRONMENTAL IMPACT FROM ITS OWN OPERATIONS: CIB is committed to optimise and reduce the impacts from energy, water, waste and paper. To this extent it has developed a Road Map with a phased approach that will first quantify our footprint and then set ambitious reduction targets;
- PROMOTION OF ENVIRONMENTALLY FRIENDLY ELEMENTS in the development of new products and services;
- EMPLOYEES AWARENESS: CIB strongly believe that raising employees awareness through dissemination of information and specific training programmes will contribute to the achievement of the company's environmental goals;
- DISCLOSURE AND TRANSPARENCY: CIB commits to disclose and convey transparently progress made towards the achievement of its environmental goals.
OUR CARBON FOOTPRINT
In light of this report and in line with the Bank’s commitment to sustainable development, CIB aims to minimize the negative impact of its operations on the environment. The first step was to calculate CIB’s organizational footprint, which has allowed us to identify our carbon footprint and learn what needs to change the most.
In 2018, a consolidated Carbon Footprint report for all CIB branches and premises was developed, measuring the Bank’s direct and indirect environmental impact.