The report relies on GRI reporting guidelines for the first time in Egypt to demonstrate the interconnectedness with the global group and reflect a clear vision of the Bank’s business model
The sustainability report covers an important period in the history of the bank that reflects the results of its development plan for its benefit of its clients and community
The Bank taps QR Code sharing tool to preserve natural resources
The report highlights the Bank’s keenness on preserving the environment and its commitment to the Paris Climate Agreement to reduce carbon emissions
Cairo, Egypt, December 2020 – Crédit Agricole Egypt presented its first integrated sustainability report covering the period 2017-2019, as well as the bank’s efforts during the outbreak of the COVID-19 global pandemic. The report, entitled Innovation and Sustainability to Create an Impact, is the first sustainability report in Egypt to follow the most advanced reporting framework Integrated Reporting (IR) and comply with the Global Reporting Initiative (GRI).
Crédit Agricole Egypt’s IR report comes within the framework of its parent group’s strategy to underpin the Bank’s social responsibility and showcase the positive marks its operations leave on clients, employees, the community, and the environment. The report also maps the Bank’s operations in Egypt and how it taps into its most valuable assets, its employees and data base, to deliver responsible growth, create sustainable value, and maintain strong and sustainable performance.
The report also highlights Crédit Agricole Egypt’s strategy, as an extension to the global group, in preserving the environment and its commitment to the Paris Climate Agreement. Case in point, Crédit Agricole Egypt has effectively set a European reference in Egypt with its iconic head office, which is the 1st Platinum LEED Certified building in Egypt and North Africa.
Commenting on the report, Mr. Pierre Finas, Managing Director of Crédit Agricole Egypt, said: “Crédit Agricole Egypt’s sustainability report highlights the success of our strategy in Egypt through underscoring the achievements we have realized in helping our customers and stakeholders as well as the Egyptian economy and community. The report also reflects the integration of the Bank as part of the world and its mission to fulfill the United Nations’ sustainable development goals and Egypt’s 2030 Vision. We have done so by identifying the expected challenges and the potential opportunities to support day-to-day operations and our stakeholders today and in the future.
He further added: “The report covers a significant period, 2017-2019, and the bank’s efforts during the covid-19 pandemic. This has been a transitional period marking the pursuit of the Bank’s growth path and the transformation strategy engaged since 2015 in the interest of our customers and the entire community. By selecting this period, we ensured that our strategy has shown an impact on the bank’s business results, its expansion, and network. Using integrated reporting helps us show the efforts that we have made across all sectors and the integration between the parent group and Crédit Agricole Egypt in light of a clear, transparent, and comprehensive business model and identity. The report covers all financial aspects, as well as human sources, customer base growth, our contributions to preserve the environment, and support for the Egyptian economy and community. This milestone report shall become a model to be followed by all sustainability-seeking institutions working in Egypt.”
For his part, Mr. Walie Lotfy, Deputy Managing Director of Crédit Agricole Egypt said: “The report covers an important transitional phase in the bank’s history, which reflects our sustained growth and the transformation that occurred as a result of the development plan for the benefit of the Bank’s clients and the community. It also reflects the bank’s contributions to the Egyptian economy and keeping pace with the directives of the Central Bank of Egypt in digitizing financial services and financing the mega projects of Egypt’s 2030 vision.”
The report highlights Crédit Agricole Egypt’s transformation is in full alignment with the medium-term strategy of the parent group, the bank’s governance, its policies to maintain efficient and sustainable operations, managing risks, clients’ data protection. I also brings out its endeavor to add value to all stakeholders, including clients and employees, as well as the economy, the environment, and the community as a whole.
Since sustainability is in Crédit Agricole Egypt’s DNA, the bank chose a sustainable channel of communication that is both innovative and impactful. CAE IR report was distributed as a QR Code on a full planting kit, to highlight the bank’s mobilization towards sustainability on every day basis.