Development Department

CIB strives to adapt and contribute to the evolving landscape of the business community and harness challenges and opportunities alike to support long-term value creation while ensuring a more sustainable, inclusive, and climate-resilient future. Aligning CIB’s activities with the Sustainable Development Goals (SDGs), Egypt’s Vision 2030, and the Paris Agreement on Climate Change is a crucial step in this direction. Equally important is partnering with leading global entities to achieve synergies.

Instilling a bank-wide culture of sustainability remains at the core of CIB’s agenda. We are also gradually and responsibly integrating environmental, social, and governance (ESG) considerations into our policies, core business, and day-to-day practices. This effort is reinforced by systematic awareness-raising activities, cross-departmental training, e-learning programs, and the use of a variety of social media channels.

Managing our Ecological Footprint

CIB is managing its environmental footprint by applying the highest standards and employing the greatest resources when it comes to mitigating its energy and water consumption, carbon footprint, and waste management. Considerable progress has been made since 2014 in this regard despite significant growth in the Bank’s operations and headcount.

CIB Carbon Footprint Calculations

Stemming from its serious commitment to sustainability and transparency, and in line with the SDGs and Egypt’s Vision 2030, CIB issued its first Carbon Footprint Report in 2017. This new reporting effort is a natural progression following the Bank’s sustainability reports published in 2015, 2016, and 2017. This initiative places CIB at the forefront of Egypt’s banking sector with regards to a comprehensive carbon footprint assessment and sets the standards for our peers.

The report provides insight into the Bank’s energy use and net greenhouse gas (GHG) emissions in terms of tons of carbon dioxide equivalent (tCO2e). CIB’s 2017 report covers 52 branches and 899 employees in the Giza and Alexandria governorates — two of the top GHG emitting governorates in Egypt, with populations of 8.7 million and 5.2 million inhabitants and emissions of 28 million and 17 million MtCO2e, respectively.

CIB’s emissions per employee for scopes 1 and 2 were 5.60 MtCO2e, higher than the median of the banking sector’s emissions for scope 1 and 2 emissions of 4.50 MtCO2e/employee and the international best practice 2.82 MtCO2e/employee, according to the Carbon Disclosure Project organization (CDP). The Bank needs therefore to cut its emissions by at least 20% to reach median ranges.

  • Lighting Efficiency

    In support of Egypt’s promising nation-wide Lighting Efficiency Improvement Initiative, we transitioned to LED lighting systems across our premises in 2017. This reduced the Bank’s energy consumption by 11 KWs between 2014 and 2018, according to a review conducted by the Egyptian Ministry of Electricity and Renewable Energy. Annual savings on electricity consumption reached 40%, and the payback period was 14 months. CIB received a special award from the Energy Efficiency Project in recognition of its outstanding energy efficiency efforts.

    Outcome: CIB’s electricity consumption is consistently being monitored and figures show that usage in 90 mega CIB buildings (large premises) located in Egypt’s main cities has dropped 2.53% in 2018 to 18204316.67 KWs from the 18666336.64 KWs consumed in 2017.

  • Water Efficiency

    In 2018, CIB initially installed 1,600 aerators as part of a trial effort to reduce water consumption across its premises. This project was highly successful, and the Bank developed a plan to install aerators across all premises in Egypt and all new buildings in the coming years. This effort has led us to save 103 million liters of water in 2018, a 40% reduction in consumption.

    Outcome: This effort has led us to save EGP 518,000 in water-related expenses and achieved a return on our investment in only four months.

  • Paper Reduction

    Paper reduction is a promising area for the division. Paper reduction efforts spurred a healthy “Paper Champs!” competition between branch offices seeking to cut down on paper waste. Any paper waste our branches create is sold to paper recycling startups. Proceeds are credited to the Sustainability Account, whose credit is subsequently used for green projects such as green rooftops.

    Outcome: In 2018, a total EGP 184,326 was credited to the Sustainability Account as part of these efforts. Despite the annual increase in CIB’s staff and number of branches, bank-wide paper consumption rose marginally to record 38 million sheets in 2018, up from 35 million sheets in 2017.

  • Electronic Waste (E-waste)

    With the world becoming digitally dependent, reducing digital waste is vital. CIB began to implement an e-waste management initiative during the latter part of 2017 to safely dispose of mobiles, computers, iPads, and similar devices.

    Outcome: In 2018, a total of EGP 1 million was credited to the Sustainability Account as part of these efforts.

  • National Initiative on Plastic Bag Consumption Reduction

    CIB is cooperating with the Ministry of Environment to participate in a national campaign to promote the use of biodegradable plastic bags. It sets to increase public awareness of the hazardous effects of non-biodegradable plastic on human health, the environment, and the economy. Biodegradable plastic bags are now used across the Bank; a change consistent with the international trend of sustainable consumption and production.

  • Internal Carpooling Application

    CIB encourages its employees to use a tailored carpooling application called Raye7 CIB that connects CIBians who want to carpool to and from work every day. In 2018, the application was used by over 1,000 employees. This initiative has generated a positive environmental impact, strengthened ties in our community, and allowed us to support young Egyptian entrepreneurs.

  • Green Buildings

    CIB collaborated closely with the Housing and Building National Research Centre and the Ministry of Housing, Utilities, and Urban Development to obtain an Egyptian Green Pyramids Certificate. This world-class, home-grown initiative is comparable to the internationally recognized Leadership in Energy and Environmental Design (LEED) standards. It is a mark of distinction signifying that a building has been constructed or is operated in a way that is green, high-performing, and resource-efficient. CIB also contributed to the development of a Green Building Rating System – Green Pyramids Rating System (GPRS). Two of our head offices were awarded the highest environmental GPRS Green Level for meeting the following criteria:

    • General accessibility and design quality that provides easy access to all stakeholders
    • Use of renewable energy sources, such as covering the building with solar sheets (rooftop panels and curved façade panels) and installing a central solar water heater
    • Establishment of internal and external vertical gardens that improve air-quality, insulation, and visual comfort; native plants are used and consume the minimum amount of water through an automatic irrigation system
    • Roof designed as a social space with seating and a cafeteria shaded by solar-grids
    • Efficient energy performance through use of LED lighting, occupancy sensors, and double-glass for insulation
    • Connection of all electrical, PV, HVAC, and water meters to a building management system that ensures effective monitoring and optimization
    • Prevention of ozone depletion through use of split units with environmentally friendly refrigerant 407-A
    • Installation of photocell taps in toilets and a gray water system to minimize water consumption
    • Adherence to sustainable housekeeping practices, such as environmentally friendly pesticide control, waste management policies, and use of segregated trash bins
  • Noise Audit on Branches

    In line with our goal to protect the environment and provide a better setting for both employees and customers, the Bank has voluntarily conducted a review of noise ratios at five branches that serve a large number of clients from a cross section of the population.

    CIB is following up on the recommendations of the noise audit report. We have created a task force responsible for implementing the following changes:

    • Periodic maintenance to maintain device efficiency
    • Use of soundproof glass and double-glass in louder areas
    • Reduction in the sound of the Qmatic system in branches
  • Electronic Tuk-tuks

    CIB led an initiative to transform the tuk-tuk taxi system in El Gouna, a luxury Egyptian resort on the Red Sea. El Gouna has made significant efforts to preserve its environment and community through efforts such as becoming a zero waste town, producing organic food, and working to become the only carbon-free resort in Egypt.

    Because of the noise and pollution created by tuk-tuks, El Gouna was eager to replace the existing fleet with state-of-the-art, zero-emission solar electric vehicles. CIB proudly contributed to the project by delivering the necessary e-tuk-tuks to El Gouna.

Inclusion Efforts

Special-needs Accessibility: A Holistic Approach

This issue has been high on CIB’s list of priorities for a few years now, and by 2018 we successfully equipped 26 branches with ramps, low teller desks, and toilet rails. Additionally, we installed 95 talking ATMs at key locations across Egypt. In addition, we conducted training sessions for 250 front-liners and customer representatives on how to best serve customers with special needs. This training was conducted in partnership with an NGO with an extensive track record in the field of special needs advocacy. CIB is also developing a code of accessibility that evaluates branches’ and ATMs’ ease of use to identify gaps and appropriate improvements. We are also establishing partnerships to increase job accessibility and recruitment levels for special needs individuals in Egypt.

Recently, CIB extended even more accessibility to visually impaired customers by providing easier access to POS terminals. Prior to this, access was limited to the use of ATMs.

Monitoring and Reporting

Science Based Targets Initiative

As no widely accepted approach exists to assess whether investing and lending activities are aligned with a 2°C trajectory, the Science Based Targets initiative (SBTi) invited CIB to participate in a financial sector working group to develop a new assessment methodology. SBTi is a partnership between CDP, UN Global Compact, WRI, and WWF that seeks to increase corporate ambition on climate action by mobilizing companies to set greenhouse gas emission reduction targets so that by 2020 we limit global warming to 2°C. Embedding science-based targets as a fundamental component of sustainability management practices is crucial in achieving this goal.

CIB Sustainability Report

To track our performance and periodically benchmark and communicate our progress to stakeholders, we identify and report on sustainability KPIs relevant to our business. CIB adheres to the Global Reporting Initiative (GRI) standards, which provide the most comprehensive framework for sustainability reporting. The Bank has been developing a standalone sustainability report every year since 2014.

Carbon Disclosure Project

CIB participated for the first time in early 2018 in this global disclosure system, making it the first Egyptian company to do so. The Carbon Disclosure Project enables companies and states to measure and manage their environmental impacts.

Bloomberg Gender Equality Index (GEI)

CIB was included on the 2019 Bloomberg Gender Equality Index (GEI) based on data collected and reported in 2018. Of the 230 companies selected for the GEI, CIB became the first Arab and African company to be named on the index. The Bloomberg GEI is the world’s only comprehensive, investment-quality data source on gender equality. Collectively, these companies have a combined market capitalization of USD 9 trillion and employ over 15 million people, 7 million of whom are women.

FTSE4Good Sustainability Index

CIB was recognized by the Financial Times as a constituent of the FTSE4Good Sustainability Index for the third consecutive year in 2018.

EGX Sustainability Index

In 2018, CIB ranked first on in the EGX Sustainability Index for the fifth consecutive year.