Commercial International Bank - Egypt (CIB)

The new framework includes the Sustainable Finance Steering Committee, Chief Sustainability Officer, the Sustainability Strategic Network and the Sustainable Finance Department, which all work in tandem to empower us to stay agile, efficient, and accountable, and ensures the proper implementation of the Principles for Responsible Banking. [...] This year we welcomed Dr. Dalia Abdel Kader as Chief Sustainability Officer. We are proud to have her join us during this pivotal new phase in CIB's development. Dr. Abdel Kader's leadership is vital in helping us conceive and implement a well-integrated sustainability strategy. She will leverage her expertise and network in the field of sustainability to help enhance the bank's competitiveness both locally and internationally, propelling us further towards our vision. [...] In 2020, CIB enhanced its sustainability governance framework entailing the bank's commitment to and ensures effective implementation of the principles for responsible banking. The Bank has launched its sustainable finance policy and revised its Sustainable Finance Policy Statement. We have ensured board commitment and alignment through the newly formed Sustainable Finance Steering Committee (SFSC) and maintained accountability of our governance structure through the appointment of a Chief Sustainability Officer who is heading the sustainable finance department. We have also ensured the effectiveness of the governance system and implementation of the PRB through the creation of a sustainability strategic network of focal points to provide interlinkages between the sustainable finance department and other bank departments, ensures the achievement of targets and maintains accountability and transparency in reporting. [...] A cross-functional committee that includes Board and Executive Management representation, the Sustainable Finance Steering Committee's mission is to establish, guide, empower, and monitor the sustainable finance function, in line with CIB's business needs and international best practices. The committee's scope covers risk management, revenue generation, ecological footprint, and sustainable finance initiatives and programs. It is mandated to endorse and formulate strategic sustainability frameworks, enable the implementation of sustainability systems, ensure stakeholder engagement, and oversee monitoring and reporting.

**5.1 Governance Structure for Implementation of the Principles**

Describe the relevant governance structures, policies, and procedures your bank has in place/is planning to put in place to manage significant positive and negative (potential) impacts and support the effective implementation of the Principles.

This includes information about:

� which committee has responsibility over the sustainability strategy and targets approval and monitoring (including information about the highest level of governance the PRB is subjected to),

� details about the chair of the committee and the process and frequency for the board having oversight of PRB implementation (including remedial action in the event of targets or milestones not being achieved or unexpected negative impacts being detected), as well as

� remuneration practices linked to sustainability targets.

**Cib Sustainability Governance Structure**

The Bank is continuously working on enhancing its governance structure, highlighting its commitment to ensuring effective implementation of the Principles through the creation of the following sustainability bodies:

Board Sustainability Committee (BSC)

The Sustainability Committee acts on behalf of the Board in overseeing all sustainability-related efforts. It supports the integration of ESG aspects across the Bank to generate value for all stakeholders. It approves CIB's sustainability framework, strategies, policies, international affiliations, and memberships. The BSC meets quarterly.

Sustainable Finance Steering Committee (SFSC)

The SFSC is a cross-functional committee that includes Board and Executive Management representation, with a mission to establish, guide, empower, and monitor the Sustainable Finance department in line with CIB's business needs and international best practices. The committee ensures the seamless integration of the ESG pillars across the Bank's policies, operations, functions, and lines of business. The SFSC meets quarterly, and it also convenes as deemed necessary.

Chief Sustainability Officer (CSO)

CIB's first CSO was appointed in June 2020. The CSO's role drives the development of the Bank's sustainability infrastructure and the launch and implementation of policies, systems, and strategies.

Sustainable Finance Department

The Sustainable Finance department ensures the centrality of sustainability as a core business strategy. It provides a solid platform for integrating sustainability and ESG principles across the Bank's functions.

Financial Inclusion Division

The department was established following the CIB's Financial Circular on establishing a Financial Inclusion Department and created a five-year financial inclusion strategy to provide easier access to financial services to the most vulnerable segments of society.

Sustainability Strategic Network (SSN)

The SSN is a cross-functional, multi-stakeholder organizational structure that includes key representatives from across the Bank, linking functions and departments together. It is an integral component of the Bank's sustainability governance structure, ensuring an inclusive and participatory approach to embedding sustainability within CIB.

**_CIB's six-tier sustainability governance ensures an effective implementation of the six Principles of Responsible Banking._**

More information about CIB's governance can be found in the [Bank's 2021 Sustainability Report](https://www.cibeg.com/-/media/project/downloads/about-cib/cib-corporate-responsibility-formerly-community/corporate-sustainability/publications/sustainability-reports/cib-gri---final.pdf) under "Delegating Authority" (p.101).

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes