Global Compact International Yearbook 2016

For measuring the key performance
indicators in the GRI report, the bank
conducted a series of sessions and workshops
for the employees to create awareness
on different levels among juniors
and liaison officers, first-line managers,
senior managers, and top management.
Although the most common approach in
endorsing the culture of sustainability
in the organization is the top-down approach,
AAIB introduced sustainability
awareness horizontally and vertically to
achieve the highest impact and transmit
the sustainability gene from one generation
to the next.
The internal awareness process took
place for five consecutive days for 97
employees in order to educate different
lines of business across all managerial
levels about sustainability and reporting.
External stakeholders engagement:
The Partners Club
Sustainability awareness extends beyond
the internal culture of AAIB and
reaches the bank’s external stakeholders,
such as clients, subsidiaries, government,
brokers, fund managers, as well as insurance
and financial advisors. The external
stakeholders were selected based on their
high influence on AAIB, as well as the
reliance of AAIB on these stakeholders
in day-to-day operations and long-term
business relations. The Partners Club
saw the attendance of 97 influential
stakeholders in AAIB that represented
the bank’s corporate clients, subsidiaries,
advertising agencies and suppliers, printing
houses, business partners, investors,
and consultants.
AAIB’s Partners Club is aimed at:
• external stakeholder engagement
• establishing stakeholder relations and
networking
• creating awareness on sustainability
matters and issues
Building a sustainability strategy is a
way to develop a more structured and
coherent sustainability approach that
demonstrates commitment – not only
to AAIB’s shareholders, but also to the
community and the environment. As CSR
and sustainability are about value creation,
AAIB has developed a framework
and approach that follows the bank’s
spheres of influence, including core business
operations, voluntary contributions,
and policy advocacy.
Moving forward, the GRI assessment
and organization’s screening directed
the top management toward establishing
strong levels of support from top
leadership to promote the concept of sustainable
finance over the coming years.
Accordingly, 2016 witnessed the launch
of the second phase of the MOSTADAM
platform for promoting sustainable finance
in Egypt and the MENA region.
MOSTADAM collaborated strategically
with the Frankfurt School of Finance
and Management in Germany to certify
experts in small and medium enterprises
as well as climate and renewable energy.
The platform registered candidates from
Egypt, Somaliland, and the Netherlands.
AAIB aims at creating an industry movement
in Egypt and the MENA region by
introducing new sustainable products
and services, preparing expertise, and
supporting a sustainable business model.
Post-assessment goals and objectives:
• lead and create a forum for sustainable
finance globally
• embrace sustainability in core banking
operations and branding
• educate financial institutions in Egypt
about sustainable finance
• develop comprehensive models for
sustainable finance
• exchange best practices and successful
role models globally
AAIB has established a solid foundation
with regard to sustainability. The
bank is still on its way to reaching an
“advanced” level of sustainability behavior.
AAIB has had success in engaging
the work environment and generating
strong commitments about responsible
business operations. The overall
performance reflects AAIB’s vision for
sustainability.
AAIB’s sustainability
decade and milestones
AAIB was the first bank in Egypt’s
financial sector to accomplish the
following:
2003 – 2010: Launches AAIB Award
– annual banking competition for
university undergraduates
2005: Joins the UN Global Compact
2007: Joins the LBG to measure
community investments
2007: Establishes the first independent
foundation for social development
in health and education:
We Owe It to Egypt foundation
2009: Joins the Equator Principles
for environmental and social
risk-assessment in project lending
2010: First to release a sustainability
report within the banking sector in
Egypt
2013: Launches the First Platform
for Promoting Sustainable Finance in
Egypt and MENA region within the
banking sector
2014: Launches the first certified
module on sustainable finance to
12 banks in Egypt; certified by EBI
2016: Launches the first certified
training modules for banking
executives on renewable energy
and climate change finance, and
SME finance
2016: AAIB publishes its second
sustainability report based on GRI G4
Regional and international
recognition:
2010: CSR Arabia Network Regional
Awards, Dubai
2011 – 2015: Good Practice in
UNGC Yearbook
2015: CSR Golden Shield, Dubai
2015: Best Green Bank Award by CFI
2016: AAIB awarded by Euromoney as
"Best CSR in the Middle East," Dubai
Global Compact International Yearbook 2016 105