DECARBONIZATION FOR A SUSTAINABLE FUTURE: CIB RECEIVES HIGHER RATING ON 2022 (CDP)
CIB has received a rating higher than last year on the 2022 Carbon Disclosure Project (2022). Our rating jumped from Level C (Awareness) to Level B- (Management), reflecting the Bank’s success in decreasing the environmental impact of its operations. CIB is the only Bank in Egypt to be included in the list, highlighting the Bank’s success in reducing its environmental impacts. This rating also demonstrates the Bank’s commitment to incorporating environmental, social and governance (ESG) principles into its operational activities across all departments.
The bank has disclosed the environmental impact of its internal owned operations for 2022 through the Carbon Disclosure Project (CDP), a global non-profit organization for environmental reporting. Transparently disclosing the impact of the Bank’s internal operations. Moreover, data related to credit and investment portfolio on the to measure its impact on the environment. Our rating improved from the previous year from C Level (Awareness), and reached Level B- (Management) that indicates showing evidence of managing our environmental impact and it reached the maturity level of integrating the Environmental, Social and Governance dimension into our core and day to day business.
In 2022, approximately 20,000 organizations worldwide disclosed their data via CDP, including more than 18,700 companies equaling to nearly half of the global market, representing 1,100 cities. The CDP Project has the largest environmental database in the world, and its results are widely used to influence investment decisions towards a low carbon economy. CIB recognizes transparency and accountability are key factors for continuing progress towards more sustainable future, by complying with the annual CDP requirements and completing questionnaires related to climate change to accelerate the growth of a wider low carbon economy.
CIB is one of the biggest institutions to disclose its environmental data to investors and stakeholders every year through the CDP, showcasing its dedication to transparency and accountability, which are vital in creating a sustainable and inclusive future.