Climate Change Data

Crédit Agricole Egypt (CAE)

Climate Impact & Sustainability Data (2020-12 to 2022-12, 2023)

Reporting Period: 2020-12 to 2022-12

Environmental Metrics

Total Carbon Emissions:3,416.32 tCO2e/year (Head Office, 2021)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:11,483,778.74 KWh/year (2022)
Water Consumption:3,576 m3/year (2022)
Waste Generated:51,513 tons/year (paper, 2022)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Financial Inclusion
  • Customer Centricity
  • Cyber Security and Data Privacy
  • Digital Transformation
  • Climate and Energy
  • Circular Economy
  • Sustainable Finance
  • Community Development
  • Governance, Compliance and Business Ethics
  • Employees’ Retention and Development

Environmental Achievements

  • Installed PV systems at Head Office, 6th of October branch, 10th of Ramadan branch, and Hurghada branch, generating green power and reducing the Bank’s carbon footprint.
  • Head Office achieved Platinum LEED Certification.
  • Reduced total energy consumption by 11.42% from 2021 to 2022.
  • Reduced carbon footprint at Head Office (quantified in the report but not directly stated as a percentage reduction).

Social Achievements

  • Established the SMEs Department to provide specialized financial services and support to SMEs.
  • Launched various programs in collaboration with CBE to ensure accessibility and affordability for SMEs.
  • Increased the number of female employees.
  • Provided specialized training for 60 female employees.
  • CAE Foundation for Development invested in health, education, social entrepreneurship, and environmental projects (quantified in the report).

Governance Achievements

  • Established a Sustainability Department reporting directly to the Managing Director.
  • Implemented the “Smart Compliance” initiative, automating compliance-related tasks.
  • Launched an anti-corruption compliance program, achieving ISO 37001:2016 Certification.
  • Implemented a whistleblowing tool (BKMS).

Climate Goals & Targets

Long-term Goals:
  • Align with CA Group's Net Zero ambition by 2050.
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Reduce Scope 1 emissions by 15% (compared to 2019) by 2025.
  • Reduce Scope 2 emissions by 20% (compared to 2019) by 2025.
  • Achieve 70% ESG implementation in borrowing files by June 2023 and 100% by December 2023.

Environmental Challenges

  • Supply chain disruptions (implied, not explicitly stated)
  • Economic instability impacting remittances
  • Inflation and global recession affecting remittances
  • Liquidity squeeze in FCY resources affecting remittances
  • Pandemic and war impacting remittances
  • Processing delays and data issues in remittances
  • Limited digital awareness among customers regarding remittances.
Mitigation Strategies
  • Developed alternative sourcing strategies (implied)
  • Launched a new project enabling faster LCY transfers from branches.
  • Launched a new Soft Transfer Request Application (paperless) to reduce data issues.
  • Provided multiple digital channels for remittances.
  • Encouraged customers to use remittance services instead of cash transactions.
  • Waived commissions and charges for LCY transfers through digital channels for individual customers.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Know Your Supplier (KYS) form
  • Supplier screening against sanction lists
  • Implementation of an end-to-end digital procurement system.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Development of energy-efficient products and services (implied)

Reporting Standards

Frameworks Used: IIRC Integrated Reporting Framework, GRI Sustainability Reporting Standards (2021)

Certifications: ISO 37001:2016 (Anti-Bribery Management), LEED Platinum (Head Office)

Third-party Assurance: Non Limited Assurance

UN Sustainable Development Goals

  • SDG 8 (Decent Work and Economic Growth)
  • SDG 5 (Gender Equality)
  • SDG 13 (Climate Action)

Various initiatives mapped to SDGs throughout the report.

Sustainable Products & Innovation

  • Green finance products and services
  • Recycled plastic debit cards

Awards & Recognition

  • Best Local Currency Loan award at the EMEA Finance Achievement Awards (2021)
  • Best Mobile Banking Application in Egypt

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:3,091.29 tCO2e/year (Scope 1 & 2)
Scope 1 Emissions:1,594.99 tCO2e/year
Scope 2 Emissions:1,496.31 tCO2e/year
Renewable Energy Share:30-45% of total energy use (in some branches)
Total Energy Consumption:11,915,353 kWh/year
Water Consumption:45,718 m3/year

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Governance
  • Community Engagement & Development
  • Financial Inclusion
  • Green Finance
  • Resource Efficiency
  • Ethical Procurement
  • Employee Well-being
  • Digital Transformation
  • Risk Management
  • Cybersecurity and Data Privacy

Environmental Achievements

  • Reduced water consumption by 20% compared to 2022.
  • Reduced energy consumption by 21% compared to 2019.
  • PV installations meet 30-45% of annual energy needs for branches.
  • Head Office achieved Platinum LEED Certification.
  • Madinaty Open-Air Mall branch became the first LEED-certified retail bank branch in Egypt.
  • Initiatives to use recycled plastics in debit cards.

Social Achievements

  • Launched Solar Energy Loan to promote sustainable energy use.
  • Implemented ESG Questionnaire tool for corporate lending activities.
  • Significant reduction in employee turnover (10% in 2023).
  • Provided 111,434 training hours in 2023.
  • Supported five projects with EGP 25M in donations (CAE Foundation).
  • Increased financial inclusion initiatives, particularly for MSMEs and underserved populations.
  • Improved customer experience through digital transformation and branch accessibility improvements.

Governance Achievements

  • Integrated sustainability into corporate governance framework.
  • Established a Sustainability Development Committee.
  • Implemented robust cybersecurity measures and data privacy policies.
  • Strengthened anti-corruption measures and compliance programs (ISO 37001:2016 certification renewed).
  • Improved risk management processes, including integration of ESG-related risks.
  • Implemented a new complaints management system.

Climate Goals & Targets

Long-term Goals:
  • Net-zero emissions by 2050.
Medium-term Goals:
  • Reduce energy consumption by 20% compared to 2019 levels by 2025.
  • Achieve top second position in CRI by 2025.
Short-term Goals:
  • Reduce Scope 1 emissions by 15% and Scope 2 emissions by 20% compared to 2019 levels.

Environmental Challenges

  • Cybersecurity risks.
  • Resistance to change in digital transformation.
  • Market volatility in green investments.
  • Regulatory uncertainties in sustainable finance.
  • Social impact measurement challenges.
  • Changing social trends.
Mitigation Strategies
  • Strategic planning for digital transformation.
  • Prioritizing areas in need of digital transformation.
  • Implementing comprehensive risk management strategies.
  • Developing green financing options and promoting sustainability awareness.
  • Supporting social initiatives and community development.
  • Fostering employee engagement.

Supply Chain Management

Supplier Audits: 183 suppliers assessed on environmental, social, and ethical responsibilities.

Responsible Procurement
  • Code of Conduct
  • Supplier sustainability requirements
  • End-to-end digital supply chain system

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IIRC Integrated Reporting Framework, GRI Sustainability Reporting Standards (2021), UN SDGs, UN Global Compact (UNGC), Net Zero Banking Alliance (NZBA), Egypt Vision 2030, CBE Sustainable Finance Guiding Principles

Certifications: ISO 37001:2016 (Anti-bribery management)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 9 (Industry, Innovation, and Infrastructure)
  • Goal 10 (Reduced Inequalities)
  • Goal 13 (Climate Action)

CAE's initiatives contribute to these goals through sustainable finance, financial inclusion, employee well-being, community development, and environmental protection.

Sustainable Products & Innovation

  • Solar Energy Loan

Awards & Recognition

  • Best Digital Transformation Program (International Business Magazine)
  • Best Mobile Banking App (Global Finance Magazine)
  • Most User-friendly Multichannel Digital Banking Initiative (Global Business Outlook)
  • Digital Banking Provider of the Year (World Business Outlook)
  • Most Innovative Retail Banking App (Global Banking and Finance Review)