Egypt’s Ahli United Bank signed a cooperation protocol with DCarbon aiming to coordinate efforts between the two sides to enhance sustainability standards and sustainable financing practices through the bank’s operations and financing activities.
The decision fits into the bank’s larger plan to apply corporate governance (ESG) standards to all operational aspects of the bank’s operations, including the financing portfolios it offers to clients, and to integrate its activities with environmental and social issues.
In this regard, Ahli United Bank’s CEO and board member, Hala Sadiq, stated that the collaboration is an extension of the bank’s continued and innovative role in promoting a range of green development areas as well as its unwavering desire to offer sustainable financing to support social and environmental issues.
She went on to clarify that as part of the cooperation, senior bank officials will be introduced to all the foundations and standards surrounding sustainable financing, along with the newest techniques for managing social and environmental risks. This will ensure that the bank is compliant with local and international standards for both financing and operations.
To promote practices that preserve the environment, Sadiq continued: The bank has adopted all practices that work to reduce carbon emissions and limit environmental risks through the bank’s earlier launch of the emissions reduction initiative through the “Green Finance” program under the slogan “green financing for a better future.” The phenomenon of climate change
The CEO also mentioned that the bank has provided funding to its clients’ initiatives to reduce energy use, employ clean and renewable energy sources, conserve water, manage waste, and boost operational effectiveness. These initiatives also include strengthening the role of community development, assisting women in all spheres of life, and achieving financial inclusion.
It is worth noting that the Ahli United Bank – Egypt’s efforts in this file align with the Egyptian government’s strategy, as embodied in “Egypt Vision 2030,” and the Central Bank of Egypt’s objectives to strengthen the role of sustainable development and sustainable final.
