A new step for CIB towards consolidating its leadership position in sustainable international trade finance is the first bank to produce an Ecological Footprint Report in Africa
The Commercial International Bank – Egypt (CIB) announced ) – The largest private sector bank in Egypt – for its active participation in the efforts to promote the green transformation of the economy by issuing the first report to measure the environmental footprint in Egypt and Africa at the level of commercial banks. This report is an important step in the Bank’s sustainability strategy to transform towards a green economy in Egypt, and to enhance the role of banks and institutions with regard to their responsibility to affect the environment and provide the best solutions to reduce the negative effects of climate change. In addition, this report reflects the Bank’s efforts to develop a sustainability disclosure plan to go beyond the usual carbon footprint reports, and include the issuance of integrated reports to measure The ecological footprint, which includes a more comprehensive presentation of the ecological footprint indicators, as the report focuses on monitoring the three main indicators of the ecological footprint; Land footprint (total land consumed to utilize available resources), carbon footprint (total carbon dioxide emissions), and water footprint (total water consumed including volume of polluted water), which makes this report a more comprehensive approach to sustainability with its assessment of All the negative effects of the operations and activities of institutions on the environment.
In this context, Mohamed Sultan, CEO For the operations sector of CIB, preparing the environmental footprint measurement report, which is more comprehensive than the carbon footprint report, is a turning point because of its many advantages, including the use of a single indicator to facilitate the process of communication with concerned parties, understanding environmental impacts, comparing and evaluating products, activities and services, in addition to creating A clear link between the volume of local and global consumption, and the exploration and evaluation of the relationship between sustainability and the factors affecting it, since the evaluation has become based on fixed environmental facts rather than random assumptions.