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Morsy: Finance in Motion organizes workshop for banking sector on sustainability, green finance
Mohamed Morsy, Country Head at Finance in Motion, said Finance in Motion organized today a workshop for the banking sector in the field of sustainability and green finance, focusing on senior management and c-level executives.
He made the remarks during the 6th Forum on Strategies for Transition to Green Economy that kicked off earlier Monday.
Morsy said Finance in Motion is directly financing these projects like engaging in the Benban solar plant in Egypt, noting “we financed two projects under the umbrella of EBRD and IFC; in partnership with them.”
“We also back regulators and industry unions through offering technical assistance for regulators, like the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) to help them with regard to sustainable finance and green finance, and to industry unions, like microfinance institutions to boost their capacity and enhance their infrastructure risk of corporate governance of microfinance companies,” he added.
“We also offer direct technical assistance to borrowers or investors, whether companies or banks, especially through supporting their environmental and social standards,” he said.
He referred also to backing a bank for full transformation into a green bank, through considering their regulatory framework and its best sustainability and green practices, revising its policies and procedures, building capacity, training staff, rewriting policies, cutting carbon footprint, as well as Task Force on Climate-Related Financial Disclosure (TFCD) reporting, GRI reporting, etc, and help in publishing sustainability reports.
“We work on several fronts,” he highlighted.
“Our main goal is reducing CO2 emissions, creating jobs, increasing on-lending for green projects, and this happens through incentives offered to banks, including technical assistance,” he concluded.
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