Page 35 - Respond 2016 Magazine
P. 35

rtcc respond

           Stage 1: Strategic Philanthropy
           AAIB has been the first bank in Egypt and the Middle East to establish
           a foundation for social development in the fields of health and
           education, We Owe it to Egypt Foundation. As such, AAIB set a trend
           that opened the way for other financial institutions to establish their
           own foundations and contribute to health and education in Egypt.

           In education, the Bank managed to bridge the gap between
           banking and the academic sectors through initiating a one-of-
           a-kind educational prototype, The Arab African International
           Bank Award. It is an annual banking competition for university
           undergraduates to innovate a banking service and product.
                                                                Hassan Abdalla CEO of AAIB awarded Best Bank in CSR in the Middle East
           Stage 2: ESG integration into core business and sustainability   Award, Euromoney.
           AAIB has been a forerunner in joining and adopting various   In 2015, in partnership with the CBE’s educational arm, the Egyptian
           international frameworks and organizations to help integrate   Banking Institute (EBI), MOSTADAM launched the first Certified
           sustainability into its business operations in a systematic manner.   Training Program introducing sustainable finance, certifying 35
           As early as 2005, AAIB joined and started reporting to the UN Global   professional bankers as sustainable finance champions within the
           Compact. Across 2014-2016 AAIB has been on of few selected   industry representing 11 eleven (11) banks across the region with
           global banks acknowledged in the latter’s annual yearbook.  presence in Egypt. Another key strategic partnership with Frankfurt
                                                                School of Finance & Management in Germany was established
           Responsible Lending was promoted in AAIB’s corporate banking   in2016, to provide two certified modules on Renewable Energy
           and investment practices, when the Bank joined the Equator   Finance, and SMEs Finance.
           Principles in 2009, to assess environmental and social risks within its
           project lending activity. Annual reporting on bank’s portfolio status   There is much room for the financial sector to play a crucial role
           has been another level of commitment to indicate how financial   in bringing about sustainable development creating winning
           performance is linked with social and environmental impact.   synergies that integrate the social, environmental and economic
                                                                dimensions. AAIB believes that the Egyptian financial sector is well
           In 2007, AAIB has also been the first in Egypt to join the London   poised to take the lead and trigger the industry transformation.
           Benchmarking Group (LBG); to measure the bank’s community
           investment and impact and the social return on its investments.
           In support to Climate Change, AAIB has been the first bank in Egypt
           to measure its carbon footprint in 2012. A group-wide awareness
           and educational carbon footprint campaign has been launched
           internally addressing all bank staff from top management to
           support staff members. This facilitated the Engineering, IT and
           Admin Support Divisions embracement of a carbon emission
           reduction strategy as part and partial of their annual business
           agenda starting 2017. Recycling, double side printing, centralized
           operations, and LED lighting system across AAIB’s premises are in
           the implementation pipeline.

           While AAIB published its first sustainability report in 2010 based
           on some GRI components, currently the bank is about to publish
           its G4 based sustainability reporting for more holistic disclosure
           on ESG issues.
           MOSTADAM…An Industry Movement
           Stage (3): Policy Advocacy & Industry Movement “MOSTADAM“
           Accelerating a bank industry movement towards the embracement
           of sustainable finance in Egypt and the region. In 2012, AAIB
           founded MOSTADAM (Arabic translation of sustainable) platform,
           in partnership with the UNDP and the ECRC. The platform aims
           at accelerating the strategic transformation of a traditional
           financial sector into one conforming with innovative sustainability
           principles. It acts as Egypt’s focal point for exchanging sustainable
           finance best practice and knowledge with peers.

   30   31   32   33   34   35   36   37   38   39   40