QNB Group takes into account all sustainability and environmental and social governance standards in all its internal and external activities

Fathi Al-Sayeh and Iman Al-Wasily

$5 billion worth of loan portfolio for small, medium and micro companies in the group

QNB Group, the largest financial institution in the Middle East and Africa, announced Its participation in the activities of the Conference of the Parties to the United Nations Convention on Climate Change COP27 Egypt 2022, which is scheduled to be held during the period from 7- 27 November 2022 in Sharm El-Sheikh, with the participation of about 197 countries. The international community will discuss issues related to climate change and how to transition to more efficient and sustainable economies. The conference will also provide an opportunity to consider the effects of climate change in Africa.

In this regard, QNB Group is keen to support efforts to transition towards a green economy in all The sectors, especially the industrial sectors, especially industries with high energy consumption, in order to work on reducing carbon emissions that have a negative impact on current and future generations and that constitute an obstacle to sustainable development. In addition, the Bank also focuses on supporting companies and small and medium enterprises to face environmental and social risks. And taking into account the principles of sustainability.

The Group is also keen to integrate environmental, social and corporate governance standards into all financing activities, instead of integrating “ESG” standards in all business operations across its supply chain, as The Bank offers a range of programs, financial services and banking solutions that contribute to enhancing sustainability in all sectors.

The Bank did not stop at providing financial services and Egypt In it only, it has provided a package of non-financial services that provide technical support services to its clients, raise environmental and societal awareness, empower youth and women, participate in many initiatives that support the culture of sustainability locally and internationally, and cooperate with many international and development agencies to create promising opportunities for growth. sustainable development, in addition to focusing on the quality of life for citizens through the group’s social responsibility activities in the communities in which it operates.

The group has taken many measures to support the transition to a more neutral and sustainable economy, including the launch of the first green “repo” deal 34 A product and service to reduce the negative effects that affect the environment and society, including loans for women entrepreneurs, green real estate finance, services for clients with special needs, financial inclusion and green bonds. The value of the loan portfolio for small, medium and micro-enterprises amounted to $5 billion.

In this context, Mr. Mohamed Badir, CEO of QNB Al-Ahly, confirmed that Egypt’s hosting of the Climate Summit in its

It reflects the importance of the role that Egypt plays in the Middle East and Africa and its interest in all economic, political and international issues. With the rate of increasing the temperature of the planet to less than 1.5 degrees Celsius, according to international recommendations in previous agreements.

The CEO added: “The Bank is distinguished by its innovative model for financing green projects that have contributed significantly to reducing carbon emissions. Including projects to generate energy from new and renewable natural resources and projects that invest in smart solutions to improve energy efficiency and rationalize water consumption, resources, and production inputs, as well as projects for managing and recycling waste and producing alternative fuels and other projects aimed at Protecting natural resources for current and future generations, in order to achieve the United Nations sustainable development goals adopted by Egypt’s vision 2030.

In this context, QNB Al Ahli is keen to establish strategic partnerships with major institutions Development finance worldwide aims to exchange experiences in the field of sustainable finance, which resulted in the launch of specialized programs for the transformation of the green economy and environmental commitment, which are not limited to providing finance, but also include providing technical support to clients and providing investment incentives. These initiatives have been translated into many success stories that won the largest awards and won the appreciation of the most important international institutions such as the European Bank for Reconstruction and Development and the European Union as strategic partners of QNB Al Ahli. Joining the United Nations Environment Programme’s Financing Initiative, and recently signing the principles of responsible banking that ensure that the participating banks’ strategy and practices are in line with global vision and goals, and support the process of financial inclusion, digital transformation, and the application of the highest principles of governance and transparency. The Bank has also completed measuring the carbon footprint of its internal activities at the Bank’s head office in conjunction with the Conference of the Parties to the United Nations Convention on Climate Change (COP