Cairo, Egypt –In context of International Bank (CIB), Egypt’s leading private sector bank presence in COP 26 in collaboration with the Ministry of Planning and Economic Development and the Ministry of Environment, CIB was invited to participate in a session titled “The Road to COP 27” as part of its contribution to the "Net Zero Delivery Summit" in London which is considered as a mid-way between COP 26 and COP 27.The summit was held on 11 and 12 May 2022 with the aim to maintain momentum on key policy initiatives for finance from COP 26, present the role of financial institutions in helping the wider economy achieve net-zero emissions.
The session was chaired by Kate Abnett, Reuter’s European Climate and Energy Correspondent, CIB's session focused on Egypt and UAE’s public and private sector efforts in the sustainable finance realm leading up to COP 27. It included prominent speakers such as H.E. Dr. Rania Al-Mashat, Egypt’s Minister of International Corporation, Dr. Dalia Abdel Kader, Chief Sustainability Officer at CIB, H.E. Dr. Nawal Al-Hosany, UAE Permanent Representative to the International Renewable Energy Agency, and Nigel Topping, UN High-Level Champion for Climate Action appointed by UK's prime minister. During the session, Dr. Abdel Kader discussed with Topping the efforts of the Egyptian financial industry in Sustainable Finance and how CIB is preparing for the upcoming COP 27 in Sharm El-Sheikh.
The summit witnessed the presence of Mark Carney, Co-Chair of GFANZ and UN Special Envoy for Climate Action and Finance; John Kerry, US Special Presidential Envoy for Climate Change; the Rt Hon Kwasi Kwarteng MP, Secretary of State, Department of Business, Energy and Industrial Strategy; Mairead McGuinness, European Commissioner for Financial Services, Financial Stability & Capital Markets Union; Alok Sharma, MP, and COP 26 President; Vincent Keaveny, Lord Mayor of London; and Mary Schapiro, Vice Chair and Head of the Secretariats for GFANZ and Task Force on Climate-related Financial Disclosures. “As a founding signatory of the Net-Zero Banking Alliance and representing Africa in the Alliance’s Governance Committee, we are pleased to have taken part in this session, which has helped pave a roadmap to COP 27, along with the other valuable points discussed during the summit,” said Dr. Abdel Kader. “Our participation in the summit comes as part of our consistent efforts to support international and regional initiatives to mitigate climate change.”
CIB has been strongly committed to sustainable finance since the beginning of its journey in 2012. The Bank has successfully embedded sustainability across all banking operations, creating a culture of responsible banking within society and among stakeholders, which aligns with Egypt Vision 2030 and the UN’s Sustainable Development Goals (SDG).