Opinion| UNIDO Egypt fosters manufacturing sector recovery in a changing economy    Opinion| Consequences of US withdrawal from Middle East    Cairo joins in 'Orange the World' campaign raising awareness on gender-based violence    EU, Egypt partner in supporting gender-targeted programmes: Ambassador Berger    Luiza Formenius launches new single 'I'll Be Home For Christmas'    Korean Ambassador urges need to enhance space cooperation with Egypt    Export-Import Bank of Korea delegation visits Cairo to chart Roadmap for future cooperation    Egypt renews call for nuclear weapon-free zone in Middle East    Wegz is most streamed artist in Egypt during 2021 for second consecutive year: Spotify    Orange Egypt Continues its Sponsorship for iRead Awards Ceremony    Egypt participates in 8th Forum on China-Africa Cooperation    Egypt, Qatar discuss cooperation in sports infrastructure    Poor sleep habits are associated with deficient control of blood sugar after meals    Prominent Egyptian anchor calls on UK to designate "Muslim Brotherhood" a Terrorist entity    Egypt, Israel sign deal sign MoU to increase gas supplies, hydrogen transport    Egypt's stocks end week in green as benchmark EWX 30 surges 0.69%    Mortada Mansour sets road map for Zamalek, after normalization committee depart    I seek to secure stable financial sources to build strong judo team: Motei Fakhr El-Din    Orascom Construction joins consortium to develop Egypt's first green hydrogen production facility    98 potential candidates run for Libyan presidency    'Lake Victoria – Mediterranean' navigation corridor awaits feasibility studies, funds: official    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Egypt selected to host COP27 international climate conference in 2022    Number of British tourists to Egypt seen hitting 500,000 this winter – envoy    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt, Greece ink deal for first subsea power link between Europe and Africa    SCOHRE sparks discussion on harm reduction, tobacco control    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    Brazil calls up 8 EPL players for World Cup qualifying    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

CIB contributes to UNEP FI Banking Principles among 26 global banking institutions
Published in Daily News Egypt on 29 - 05 - 2018

Commercial International Bank-Egypt (CIB) participated in the first workshop organised by the United Nations Environment Programme Finance Initiative (UNEP FI) for the development of Banking Principles to include social and environmental responsibilities. These principles will be the first to align with the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change, to lead the banking industry to daily sustainable operations.
CIB-Egypt is among 26 other global banking institutions from five continents committed to founding these principles. The existing principles for entities adopt sustainability, but there are no definite overarching principles to bring together and recognise the societal and sustainable development challenges facing the banking industry. In that regard, the Banking Principles derived from the UNEP FI will serve to capitalise on the influence that banks have on other industries, given their intermediary role as finance gurus in the market.
CIB has taken this initiative as part of its commitment to the UNEP FI, having been a member of the platform since 2015. The bank is also the first Egyptian financial institution to join the UNEP FI and to sign the Statement of Commitment, which asserts the members' recognition of the importance of economic development with attention to human welfare and sustainable development goals.
"At CIB, we believe having environmental interests is the core of any sustainable growth. The bank continues to advance a bank-wide sustainability culture and mindset by considering the social, environmental, and economic impact in its daily operations," said Hussein Abaza, CIB chief executive officer and board member.
In an official statement, the UNEP FI highlighted, "the process of developing the Principles will include consultation with a wide range of stakeholders, such as civil society organisations, banking associations, regulators, and UN bodies." The launch of draft principles for global consultation is scheduled during the UNEP FI Global Roundtable 2018, to be held in France in November.

Clic here to read the story from its source.