Abu Dhabi Commercial Bank Egypt issues its second sustainability and carbon footprint report for the year 2022 And Concludes the activities of the first business accelerator in Egypt in clean energy technology and climate change
Abu Dhabi Commercial Bank Egypt has released its second sustainability and carbon footprint report for 2022. This report reaffirms the bank’s commitment to environmental, social, and corporate governance (ESG) principles, aligning with the group’s overall strategy. It covers the financial year 2022 and follows global reporting standards, GRI and SASB, as well as aligning with Egypt’s Vision 2030, the UN Global Compact (UNGC), and UN Sustainable Development Goals.
The report reflects the bank’s ESG strategy across its various operations, integrating ESG aspects into its business plan. It highlights the bank’s achievements in 2022 and its efforts to adapt to the growing focus on ESG practices. The bank’s environmental and social initiatives are shown to be an integral part of its core operations and governance. The report also demonstrates an assessment of the relative importance of topics affecting the bank through stakeholder engagement.
In the same context, the bank celebrated the completion of the first ClimAccelerator program in Egypt , which is considered one of its kind. This accelerator targets startup companies in the clean energy sector and was launched by youthinkgreen Egypt, in collaboration with Schneider Electric and under the patronage of Abu Dhabi Commercial Bank Egypt.
Regarding these achievements, Ihab El Sewerky, the CEO and Managing Director of Abu Dhabi Commercial Bank Egypt, commented: “The bank has managed to be among the fastest-growing banks in Egypt since its inception, achieving robust growth rates. We are confident that this growth aligns with the pursuit of sustainability, which has already become a core focus in the group’s strategy in the UAE and for Abu Dhabi Commercial Bank Egypt. This strategy is based on four pillars: environment, customers and society, employees, and governance. Sustainability dimensions have been integrated into the strategy, and an action plan has been developed in alignment with the group’s direction, the country’s strategy, and the decisions of the Central Bank of Egypt. We recognize the importance of transitioning to a low-carbon economy and consider the bank’s environmental impact, both through its operations and financial activities. We aim to support our customers in transitioning to more efficient processes. Today, we are proud to release our second sustainability and carbon footprint report, reaffirming our commitment to transparency and establishing a mechanism for monitoring what the bank has implemented to create sustainable impact and value for all stakeholders, including shareholders, customers, society, and employees. We are also proud to sponsor the first clean energy accelerator to support the ecosystem in Egypt and rely on innovative sustainable practices.”
Abu Dhabi Commercial Group previously announced its sustainability strategy and the steps taken to mitigate the impacts of climate change, including the issuance of green bonds and joining the climate-responsible corporate commitment initiative in alignment with the UAE’s climate action agenda and its strategic initiatives to achieve climate neutrality by 2050. The group has committed to several measures, including the development of an ambitious plan to reduce the bank’s carbon footprint based on scientific foundations.
The bank also has celebrated the graduation of eight startup companies in collaboration with youthinkgreen. The accelerator program served as a catalyst for the growth and success of these eight projects. Through an extensive program consisting of 25 intensive sessions, entrepreneurs learned how to deepen their business models, develop innovation management strategies, adopt effective techniques for customer retention, and professionally use marketing tools. The bank was eager to support through financing as well as contributing with expert lectures in various fields, such as marketing, financial management, and digital banking.
