The Arab African International Bank (AAIB) was named the “Best Green Bank” in Egypt for 2015 by Capital Finance International (CFI) for adopting green banking principles.
CFI’s recognises AAIB for being the first to introduce social and environmental risk reporting to measure the impacts of the bank’s loan portfolio on an annual basis. AAIB adopted the Equator Principles (EPs) in 2009, a risk management framework that allows financial services providers to measure environmental and social ramifications of any project submitted.
Hassan Abdalla, Vice Chairman and Managing Director at AAIB commented: “The bank’s understanding for corporate social responsibility has evolved in the last decade to embed sustainability concepts in all our banking traditions.”
In addition, CFI acknowledges the bank’s leadership for being the first bank in Egypt to publish the first Carbon Footprint Report. AAIB also had widespread initiatives to engage its employees in reducing their carbon emissions.
As such, AAIB is the first bank in Egypt to embrace sustainable finance as a strategic concept that coherently ties with its notion of growth.
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