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Crédit Agricole Egypt releases first integrated sustainability report - Daily News Egypt

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Crédit Agricole Egypt releases first integrated sustainability report

Bank’s report highlights its keenness to preserve environment and commitment to Paris Climate Agreement’s target of reducing carbon emissions

Crédit Agricole Egypt has released its first integrated sustainability report covering the 2017-2019 period, as well as its efforts during the novel coronavirus (COVID-19) outbreak.

The report, entitled Innovation and Sustainability to Create an Impact, is the first sustainability report in Egypt to follow the most advanced reporting framework, the Integrated Reporting (IR), and comply with the Global Reporting Initiative (GRI).

Crédit Agricole Egypt’s IR report comes as part of its parent group’s strategy to underpin the Bank’s social responsibility. It aims to showcase the positive marks its operations leave on its clients and employees, the community, and the environment.

The report also maps the Bank’s operations in Egypt, and how they tap into its most valuable assets, employees, and database. This is with the aim of delivering responsible growth, creating sustainable value, and maintaining strong and sustainable performance.

The report also highlights Crédit Agricole Egypt’s strategy, as an extension to the global group, in preserving the environment and its commitment to the Paris Climate Agreement.

The Bank’s local operations have effectively set a European reference in Egypt with its iconic head office, which is the first Platinum LEED Certified building in Egypt and North Africa (MENA) region.

Pierre Finas, former Managing Director of Crédit Agricole Egypt, said, “Crédit Agricole Egypt’s sustainability report highlights the success of our strategy in Egypt, through underscoring the achievements we have realised in helping our customers and stakeholders as well as the Egyptian economy and community.”

“The report also reflects the integration of the Bank as part of the world and its mission to fulfil the United Nations’ sustainable development goals and Egypt’s Vision 2030,” he added, “We have done so by identifying the expected challenges and the potential opportunities to support day-to-day operations and our stakeholders today and in the future.”

Finas also said that the report covers a significant period, from 2017 to 2019, and the bank’s efforts during the COVID-19 pandemic. The period has been transitional, marking the pursuit of the Bank’s growth path and the transformation strategy, put into effect in 2015, in the interest of its customers and the entire community.

By selecting this period, Finas said that the Bank ensured that its strategy has shown an impact on the bank’s business results, its expansion, and network.

“Using integrated reporting helps us show the efforts that we have made across all sectors and the integration between the parent group and Crédit Agricole Egypt in light of a clear, transparent, and comprehensive business model and identity,” he said.

Finas noted that the report covers all financial aspects, as well as human resources, customer base growth, the Bank’s contributions to preserve the environment, and support for the Egyptian economy and community.

This milestone report shall become a model to be followed by all sustainability-seeking institutions working in Egypt, he added.

Walie Lotfy, Deputy Managing Director of Crédit Agricole Egypt, said, “The report covers an important transitional phase in the bank’s history, which reflects our sustained growth and the transformation that occurred as a result of the development plan for the benefit of the Bank’s clients and the community.”

He added, “It also reflects the bank’s contributions to the Egyptian economy and keeping pace with the directives of the Central Bank of Egypt (CBE) in digitising financial services, and financing the mega projects of Egypt’s 2030 vision.”

The report highlights that Crédit Agricole Egypt’s transformation is in full alignment with the medium-term strategy of the parent group, the bank’s governance, and its policies to maintain efficient and sustainable operations. It also falls in line with the strategy governing managing risks and clients’ data protection.

At the same time, the report highlights the Bank’s endeavours in adding value to all stakeholders, including clients and employees, as well as the economy and the environment.

Since sustainability is important to Crédit Agricole Egypt, the bank chose a sustainable channel of communication that is both innovative and impactful. The report was distributed as a QR Code on a full planting kit, to highlight the bank’s mobilisation towards sustainability on every day basis.

Topics: Credit Agricole

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