In efforts to combat climate change disastrous effects on the globe and achieve the global climate goal to limit warming below two degrees and striving for 1.5 degrees Celsius, Net Zero Banking Alliance has been convened by the UN to align member banks’ lending and investment portfolios with net-zero emissions by 2050.
As a founding signatory of the Net-Zero Banking Alliance, CIB has been selected to represent Africa in the Alliance’s new governance, made of a 12-member Steering Group. CIB will be represented by Mr. Hussein Abaza, CEO and Managing Director, and Dr. Dalia Abdel Kader, Chief Sustainability Officer.
The new governance will provide a level of accountability for the alliance and is designed to leverage the diversity of the membership, build consensus and ensure best practices can be adopted worldwide.
Since 2015, CIB has been gradually enhancing its commitment towards sustainability through ground-breaking initiatives to integrate environmental, social and governance (ESG) dimensions into CIB policies, procedures, operations and culture. CIB is also focused on advancing its local and regional mandate to raise awareness about climate change management.