Overview

The UB Sustainability and sustainable finance Journey

We embark on a journey committed to fostering sustainability and embracing the principles of sustainable finance. UB recognizes a profound impact on the well-being of future generations, aims to embrace a future-oriented perspective, conscious of the profound influence in shaping the society around us. Align with international standards and national regulations, in particular, the principles and regulatory framework laid out by the Central Bank of Egypt (CBE) in November 2022. These regulations mandated the establishment of an independent Sustainability and Sustainable Finance Division to foster seamless cooperation among various divisions within the Bank, CBE, and relevant external stakeholders. These regulations also mandate that the direct reporting line to the Chief Executive Officer (Managing Director) or his appointed deputy, no later than April 1st, 2023. By complying to these regulations and proceeding with the implementation of policy, we emphasize on UB’s belief in the transformative power of Environmental, Social, and Governance (ESG) principles, which we hold central in routing UB’s direction towards the sustainable advancement.

The United Bank is committed to promote sustainability and adopting sustainable finance principles aligned with international standards and Egypt's Vision 2030. In particular, the principles and regulatory framework set by the Central Bank of Egypt for the application of sustainability and sustainable finance. We believe in the power of taking into account the environmental, social and governance (ESG) dimensions in enhancing The United Bank's direction towards sustainable growth.

We are keen to follow the guiding principles of sustainable finance and integrate them into our business plans and operational activities: the principle of capacity and knowledge building, the principle of promoting sustainable finance, the principle of stakeholder engagement, the principle of applying sustainability principles to the Bank's internal activities and business, the principle of climate change risk management and the principle of reporting.

Recognizing the importance of sound governance in the Bank's operational activities, The United Bank is committed to maintaining transparent and ethical decision-making processes at all levels. ; The United Bank also works to provide a diverse and inclusive work environment, which ensures fair opportunities for employee growth, development and well-being in general, and the bank also works to create positive societal impact by financing and sponsoring initiatives and projects that enhance sustainability and provide a package of financing products with an environmental and social dimension.