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CIB-Egypt joins the UN Environment Programme Finance Initiative

4/9/2016 12:00 AM

Commercial International Bank-Egypt (CIB) is proud to announce joining the United Nations Environment Programme Finance Initiative (UNEP FI), being the first Bank in Egypt to join this esteemed international platform. CIB-Egypt aims to combine efforts for further promoting responsible investment principles in Egypt and the region while setting a regional example for positive impact banking.

The partnership with UNEP FI, which is led by the Bank’s Social and Environmental Credit Risk Department, is in line with CIB-Egypt's commitment to a perceptive longer-term vision of the future that strikes a sound balance between the strategic goal of increased profitability as well as serving the broader socio-economic and environmental interests. Believing that this is the backbone of any sustainable success, the Bank continues to adopt and raise the culture awareness and the concept of sustainability through the integration of social, environmental, economic and cultural considerations in its policies and day-to-day operations, within a responsible and inclusive approach.

CIB is the first financial institution to join UNEP FI in Egypt, and sign the “Statement of Commitment”, which asserts the members' recognition of the importance of connecting the economic development with human welfare and a healthy environment while working in a collective synergetic manner towards common sustainable development goals.

It’s worth mentioning that CIB-Egypt has been integrating sustainability into its day-to-day business operations and all commercial transactions a Social and Environmental Risk Management were launched under the Social and Environmental Credit Risk Department, advocating the social and environmental role for financial institutions.

UNEP FI was founded in 1992, based in Geneva, Switzerland, as a platform associating the United Nations and the financial sector globally. Over 200 members around the Globe from Banking, Insurance and Investment have signed the UNEP FI Statement of Commitment. UNEP FI develops selective collaborations, UN-driven and finance sector-driven, with other partner organizations, in order to increase awareness and support the role of financial institutions in creating positive impact through a sustainable, responsible investments.