Abu Dhabi Islamic Bank (ADIB) Egypt recently published its inaugural sustainability report for 2023, titled “Preserving Values on Our Journey to the Future – Unleashing the Potential of Sustainable Finance.” This significant milestone underscores the bank’s unwavering commitment to integrating environmental, economic, social, and governance (ESG) considerations across all aspects of its operations, aligning with the Global Reporting Initiative (GRI) standards.
According to the bank’s statement, this report highlights ADIB Egypt’s adoption of sustainability and sustainable finance principles, which have become critical benchmarks for evaluating banking institutions locally and internationally. The report showcases the bank’s leading practices and initiatives in sustainability, recognized by various global financial institutions through accolades and ratings.
Mohamed Ali, CEO and Managing Director of ADIB Egypt, emphasized: “Sustainability is integral to our strategic vision. Over the years, we have diligently implemented environmental, economic, social, and governance practices. Our commitment to sustainability is intertwined with our financial success, serving as a pathway toward comprehensive economic development in Egypt, aligned with Egypt’s Vision 2030.”
Ali further stated: “Our inaugural sustainability report, under GRI standards, underscores our commitment. It focuses on how we integrate sustainability indicators and elements within the bank, demonstrating our application of sustainable finance concepts. By incorporating environmental and social considerations into our activities, we contribute to both global and local development, supporting the Egyptian economy.”
“We aspire to be a transformative force in the banking sector,” Ali continued. “Our sustainable performance mobilizes capital for green economy practices. Priorities include addressing climate change, reducing carbon emissions in banking operations, and promoting financial inclusion. We align our goals with the United Nations Sustainable Development Goals (SDGs) across all subsidiaries. Additionally, we prioritize raising awareness and knowledge of sustainability and sustainable finance among our employees, recognizing their pivotal role in achieving leadership in Islamic banking and supporting sustainable development.”
The report details ADIB Egypt’s achievements in various fields, making significant contributions to sustainable growth. It outlines efforts to integrate sustainability into operations and continuously monitor social, economic, and environmental performance. The bank complies with the directives of the Central Bank of Egypt, thereby strengthening sustainable finance practices within the banking sector. Furthermore, the report confirms that ADIB Egypt’s sustainable finance policy is an integral part of its credit policy. It provides a comprehensive framework for identifying, assessing, and managing risks while evaluating environmental and social impacts. All financed projects adhere to Islamic Sharia principles, Egyptian laws, regulations, and international standards.
Lastly, the report summarizes the bank’s sustainability initiatives, highlighting eco-friendly practices and efforts to enhance the working environment and employee efficiency, along with its commitment to corporate social responsibility. The report emphasizes the crucial role of governance in ensuring the implementation of all regulations and laws that contribute to the effectiveness of its strategy toward sustainability and sustainable finance.
