The Commercial International Bank (CIB), Egypt’s leading private sector bank, announced that its Hurghada and Mohandessin branches are the winners of the Amal El Araby Award for Paper and Energy Champs.
The award, given for the second quarter (Q2) of 2020, is a sustainability initiative designed to raise awareness and employee engagement in sustainability practices. Over the years, CIB has gradually enhanced its commitment to sustainability across all spheres, developing initiatives, and integrating sustainability values into its policies, procedure, operations, and culture.
“Congratulations to the Hurghada Main Branch for winning the Q2 Paper Champs, and the Mohandessin Branch for winning the Q2 Energy Champs,” said Mohamed Sultan, Chief Operating Officer of CIB.
He added, “CIB has always been a step ahead in its robust commitment to the environment, and our Paper and Energy Champs reflect the bank’s efforts to mitigate our environmental impact, and follow the highest standards in monitoring, measuring, and managing resources.”
In 2019, CIB conducted its first consolidated carbon footprint report for all its branches, serving as a baseline for the bank’s carbon emission reduction targets. These cover electricity, refrigerant leakage, water, paper usage, aerial transportation, ground transportation, and waste generation.
In 2018, CIB’s total emissions reached 36,373.09 MtCO2e, and the bank has committed to reducing greenhouse gas emissions by 10% by 2025.These efforts have been systematically delivered by the Facility Management, Premises Projects and Corporate Services Departments.
The Paper and Energy Champs initiative monitors the paper and electricity consumption of all CIB branches, and encourages the adoption of new, innovative ideas and technologies by employees.
The Hurghada Main Branch winners reduced their paper consumption by 65%, saving over 70,000 paper sheets in Q2 of 2020 versus Q2 of 2019. The Mohandessin Branch winners reduced their electricity consumption by 38%, saving over 41,000 kW in Q2 of 2020 versus Q2 of 2019.
The winners were awarded the Amal El Araby award, named in memory of a beloved member of the CIB family and fierce advocate for sustainable development.
Since beginning its sustainability journey in 2013, CIB has since set the tone for responsible business models in Egypt’s banking sector. The bank prioritises not only profitability, cost savings, and operational efficiency, but also social and environmental impact.
In an effort to establish a new standard of responsible banking in the region, CIB became the first bank in Egypt to establish a sustainable finance division in 2020. The new division ensures the centrality of sustainability as a core business strategy. It also provides a solid platform to integrate Environmental, Social and Corporate Governance (ESG) principles across the bank’s functions.