Celebrate Earth Day with us!
As a leader in sustainable finance, CIB is taking Earth Day to reflect, appreciate, and demonstrate action to mitigate climate change and protect our planet.
Earth Day is an annual international event to demonstrate support for environmental protection and the world's largest environmental movement.
Human activities directly contribute to climate change, such as burning fossil fuels and cutting down forests, resulting in increased greenhouse emissions. The Intergovernmental Panel on Climate Change (IPCC) predicts global warming will cause serious changes in water supplies around the world, in addition to an increase of about 0.2 degrees Celsius per decade in the average global temperature. Climate change puts millions of people at risk of water shortages, increased heat waves, and extreme weather patterns.
CIB has been at the forefront of tackling climate change for the past several years, incorporating sustainable practices into our core business operations and aligning our banking activities with UN SDGs and Egypt Vision 2030. CIB was the first bank in Egypt to implement the Energy Efficiency Improvement Project in LED lighting transformation, saving 40% of the Bank's energy consumption.
CIB was also the first bank in Egypt to acquire the Egyptian Green Pyramid Certificate (GPRS) for three of CIB's "Green Buildings," awarded by the Ministries of Housing, Utilities and Urban Communities, Electric and Renewable Energy, and Environment. CIB is also the first bank in Egypt and second in the region to join the Task Force on Climate-Related Financial Disclosures (TFCD) and disclose its environmental impact through the Carbon Disclosure Project (CDP) as part of the Bank's efforts to support local and global sustainable practices and take precautionary measures to reduce climate change risks in the short and long term.
As we assess different climate change scenarios and determine their impact on the banking industry, it is our responsibility to raise awareness about the risks and opportunities of climate change as we develop into a green economy.
For more information about Earth Day and what you can do, visit www.earthday.org.