The Commercial International Bank-Egypt (CIB) received a special award from the Energy Efficiency Project in recognition of its leading role in supporting and contributing to the national energy efficiency strategy through its various initiatives.
The award was presented to Hisham Ezz Al-Arab, CIB chairperson and managing director, during the monthly luncheon of the American Chamber of Commerce in Egypt (AmCham), attended by Mohamed Shaker, minister of electricity and renewable energy.
CEO of AmCham Sylvia Menassa said in a statement that the CIB has been leading and implementing significant energy efficiency initiatives, which have inspired other organisations to follow suit.
In 2017, the CIB realised a 40% reduction of its annual energy consumption, equivalent to 11m KW. This amount of energy saved is supposedly enough to light up more than 4,500 houses.
This significant energy reduction is the result of integrating many simple ideas into the bank’s operations, including the bank-wide installation of LED technology where more than 3,000 lamps were replaced, and the heavy utilisation of solar technology (solar tie grids, water heaters, etc).
The CIB has been intensively digitising its internal processes and operations to preserve resource, and implement sustainable development practices to present diverse socio-economic and environmental returns for society. Some of the projects in this regard include paper consumption reduction, the implementation of an integrated solid waste management system (ISWM), and the usage of biodegradable plastic bags.