Statement/ CBI joins the IFC Sustainability Network

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The Sustainability Framework defines the organization's strategic commitment to sustainable development through the adoption of environmental and social sustainability performance standards. CBI strives, through community initiatives adopted and implemented directly and indirectly, to achieve this objective arising from its law and through its Board of Directors.

 

In order to keep abreast of the international developments in this field, the Bank announces that it has joined the IFC Sustainability Network, which includes several countries (developed and developing) in order to implement the principles of sustainability mentioned in the Corporate Governance Guide which is (9) Principles: -

 

1. Business Activities: Banking and Environmental Risk Management - Integrating environmental and social considerations into the decision-making process of the institution's activities to avoid, minimize or compensate negative impacts.

 

2. Business Processes: Environment and Social Footprint - Avoiding, minimizing or compensating the negative impacts of business operations on communities and the environment in which they operate, and where positive impacts can be enhanced.

 

3. Human rights - respect for human rights in the operations and business activities of the institution.

 

4. Economic Empowerment of Women - Enhancing women's economic empowerment through the workplace culture of both male and female in the business operations of the institution.

 

5. Financial Inclusiveness - Striving to provide financial services to individuals and communities that are traditional and have limited or no access to the formal financial sector.

 

6. Governance - Apply strong and transparent corporate governance practices.

 

7. Capacity Building - Develop individual and sectoral institutions needed to identify social and environmental risk management and opportunities associated with business activities and processes.

 

8. Collaborative partnerships - Collaborate with all sectors and benefit from international partnerships to accelerate collective progress and improve the sector as a single unit to ensure that the organization's vision is in line with international standards.

 

9. Reports - Review and view reports regularly on the course of progress to meet these principles at the individual and sectoral level