Crédit Agricole Egypt’s 2nd Sustainability Report abides by IR, GRI standards

08 / 04 / 2024

By Marwa Nassar - -

Crédit Agricole Egypt (CAE) has released its second integrated sustainability report spanning the years 2020-2022, marking the bank’s distinction as the first in Egypt to apply integrated reporting.

Themed “Shaping a Sustainable Future” the report focuses on the bank’s environmental, social and governances (ESG) realms, offering insights into its performance, management, operations, customers satisfaction, societal impact, environmental practices and economic contributions.

Released in late December 2023 on both Crédit Agricole Egypt and the Global Reporting Initiative (GRI) platforms, the report underscores the bank’s commitment to transparency, accountability and sustainable banking practices.

Jean-Pierre Trinelle, Managing Director of Crédit Agricole Egypt commented “Sustainability represents an integral part of our bank strategy. We will continue to work towards advancing our ESG efforts to bring tangible benefits to the communities we serve”.

Through adherence to the advanced Integrated Reporting (IR) framework, compliance with GRI standards, and in alignment with the United Nations Sustainable Development Goals, the report showcases the Bank’s advancement in sustainability reporting, as well as its collaborative efforts with various stakeholders to drive impactful change.

The report shows examples of the Bank’s solutions towards the transition to a more sustainable low-carbon future.

Crédit Agricole Egypt’s Head Office solar panel is the largest owned by a bank in Egypt generating green power that save 550,000 kilograms of CO2 emissions annually equivalent to the consumption of 305 households.

Another example is CAE’s “Women Pioneer Program” which offers public university graduates valuable on-the-job training across different bank departments. The program provides young women with extensive learning experiences in banking and enhance their preparedness for the job market. This is in addition to CAE “SAWA” program, which focuses on enabling Persons with Disabilities (PWDs) to access banking services.

The report outlines progress made in generating positive impacts across to 6 key forms of capitals essential to sustainability and responsible business practices; financial, intellectual, manufacture, human, social & relationship, and natural.

Amongst the key areas addressed are the digital advancements and commitment to excellence and customer satisfaction, under which Crédit Agricole Egypt has been awarded from esteemed international publications for different criteria such as the Most Innovative Retail Banking App award from Global Banking & Finance Review and the Best Performing Egyptian Bank award from International Business Magazine in 2022.

Nevertheless, the community development programs under the Credit Agricole Foundation for Development came as another clear example with total investment over the years 2020, 2021, 2022 amounted to EGP 87 million, positively impacting over 52,000 lives.

Jean-Pierre Trinelle added “We made consistent progress in the past years, and we are well positioned to keep up the momentum as we ensure deploying our ESG strategy across all our business. Supporting our customers in their energy transition is a key priority for the bank.”