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The United Bank demonstrates its 19 initiatives, green projects

06/11/2022

Mr Ashraf

On the sidelines of COP 27

The United Bank demonstrates its 19 initiatives, green projects, and their economic, social and developmental impacts.

Ashraf El Kady- The president of The United Bank

  • UB’s strategy towards maximizing the green economy mechanisms.
  • UB participated in 19 initiatives and projects regarding green practices.
  • 4 green aspects, social, economic, health and development in UB strategic applications.
  • 4 dimensions to localize the green economy culture in Egypt.

On the margin of Egypt’s hosting COP 27, The United Bank announces its steps towards strategic applications that support Egyptian State vision 2030. In the way towards green, eco- friendly practices transformation on the economical, social, environmental, health, and human resources level. Serving the Egyptian society specifically, and the international community in general, in the framework of the international recommendations to reduce the harmful carbon emissions.

The United Bank demonstrates in its statement today, coinciding with COP 27 events, the 19 practices and projects that have been made on four basic aspects.

First: The Green Economic Aspects

  • The first carbon emissions report issued for the three headquarters. Last October. UB announced its first carbon foot print measurement in its 3 headquarters. That’s in accordance with the Egyptian state and The Central Bank of Egypt orientations towards the transformation into green economy applications, and reduce the negative impacts of climate change. The carbon footprint report includes an accurate measurement process to UB practices on 2 stages:
    • the first dimension: the direct emissions, resulted from fuel burning and cooling gas leakage.
    • the second dimension: the indirect emissions, resulted from energy and water consumption, supply chain, and waste management.

 

  • UB’s participation in the initiative of car conversion to operate with natural gas in 2021. The United Bank launched financial product to convert cars to operate with natural gas. On the sidelines of the first exhibition of technology for converting and replacing vehicles to work with clean energy “Go Green”, under the patronage of the president of the Republic, and with the coordination of the Ministry of Trade and Industry, and CBE, and a number of relevant ministries. The initiative aims to maximizing the benefits of the economic reform gains to the Egyptian citizen, through:
  • Maximizing the use of natural gas as an alternative for fuel for diesel and gasoline. This would achieve great economic and material savings in the general budget of Egypt. It contributes in directing these savings to support the sectors of health, education and scientific research to advance the system of services provided to the Egyptian citizen and improve his life.
  • Eliminating pollution and harmful environment emissions that affect the health of the citizen and the surrounding environment from the effects of using the fuels.
  • Achieving the maximum benefit of the production capacity of the Egyptian car factories and the related industries. The thing that contributes to production maximizing and increase the local production and raising the employment rates. So, reducing unemployment and increasing exports.

 

  • The soon opening of UB administrative headquarter in the new capital. The building has a unique design with an area of 30 thousand meters. The unique design of the building was chosen to combine the latest eco- friendly architectural applications. The new headquarter complies with global green standards, more sustainable internally and externally. It holds the International Leadership in Energy and Environment (LEED) certification for green building which defines the main areas of green building standards in terms of: location, water, energy efficiency, atmosphere, resources, and indoor environmental quality.

 

  • Banking solutions to expand financial inclusion base through packages of banking services to encourage non- client to deal with the banking system. UB has issued the financial inclusion account that allows youth aging 16 years old to open accounts. As well as, for those who have economic activities can join formal sector by opening accounts with easy and fast procedures.

The UB spreads the financial culture, especially within residential communities in a number of governorates, also among universities students. The thing that achieve the state’s and CBE goals towards expanding the base of financial inclusion, and improving the life style of the citizen, reducing unemployment rates, inflation rates, eliminating internal migration. As well as, developing job opportunities, educational and health services, empowering women and youth. This is through a package of distinctive bank products: micro finance, Ajyal youth prepaid cards, laky woman’s card. Besides, prepaid card, the national network card “Meeza”, and Millionaire certificate that helps the winners to achieve their dreams.

 

  • Launching the digital services package under the name of “Your Bank Online”. UB aims from launching this distinctive and high quality digital package to let the client enjoys more luxury, and reduce the harmful carbon emissions. The service provides the client with all banking transactions just from where s/he is, in order to save her/ his time and effort. The digital services package works around the clock, 24/7, with the highest efficiency and latest international technology: internet banking (for individuals and corporates), Mobile banking, digital UB wallet. As well as, virtual ATMs services, which provides many developed solutions, like: I score inquiry, currency exchange, withdrawal and deposit, bills payment, donation, cash transfer services with or without the use of a card.

 

Second: The green social aspect

  • The United Bank contribution to support Sharm El Sheikh conversion into “Green City”. In 2022, UB financially supports the march of qualifying Sharm El Shiekh to be an eco- friendly green city. In preparation for hosting COP 27, that happened in cooperation with Gernral Khaled Foda- Governor of South Sinai. Sharm El Sheikh has witnessed the launch of many green eco- friendly practices, like: campaign to reduce the plastic bags consumption, a campaign to clean land and sea from plastic. As these steps are the most important to reduce climate change negative impacts on the biological diversity in the Red Sea. Besides, the launch of a campaign that calls to converting the city transportations into green sustainable transports, and also smart waste management.

 

  • Empowering people of Saint Catherine to operate 350 families. In cooperation with General Khaled Foda, and General Talaat El Anany- head of the local council in Saint Catherine, UB launched “TAGALY” project to empower the people of Saint Catherine and the region of Tagaly mountain. The project provided job opportunities for 350 families, to empower them economically through boosting entrepreneurships and improving the competitive and productive abilities of their projects, whether agricultural or handicrafts or food- related products, like: mountain honey extracting, olive oil extracting, natural herbs and almond cultivation, soap industry, and Sinai distinctive handicrafts.

 

Third: Human Health Aspect

  • Virus “C” elimination initiative:
    UB spared no effort to support the health system and the Egyptian state, to eliminate the endemic of virus “C”. UB was the first financial institution to announce it is free of virus “C”.
  • Purchasing Corona vaccine initiative:

UB participates with The Federation of Egyptian Banks to purchase Corona vaccine with an amount of 15 million L.E in 2021.

  • 100 Million Health initiative to examine and treat diseases. UB participated in the initiative within its 68 branches, whereas the teamwork, their families, the outsource employees and a number of clients in a number of branches and sectors have been examined.
  • The blindness Causes and Anemia initiative:

UB, in cooperation with “Sonaa El Kheir” foundation, and the Ministry of Education have examined the children in schools in a campaign named “Our children in Our eyes”.

  • Woman’s health initiative:

UB cooperated with Baheya foundation raised awareness about breast cancers and examined a number of women.

  • Eliminating waiting lists initiatives:

UB participated with Tahya Misr Fund to eliminate waiting lists in the governmental hospitals.

 

Fourth: Human Resources Development

The United Bank pays a great attention to the investment in youth, as they are the future leadership. UB’s strategy is based on the importance of qualifying them scientifically and practically to ensure the sustainability of the integrated development plans in Egypt.

  • UB provided support to a number of initiatives and youth activities, such as: World Youth Forum, with its four editions.
  • UB provides all kinds of technical and financial support to Nile Pioneers initiative, since its launch in 2018, UB has opened three entrepreneurships centers in Delta, Upper Egypt, and Cairo.
  • UB sponsored Cairo University team from Engineering Faculty in the competition to design an eco- friendly car. The team won in Shell Eco 2019 competition.
  • UB sponsored Cairo University team from Engineering Faculty, who participated in Paris Design Week 2022, to design furniture out of construction waste.
  • UB sponsored Cairo University team from Engineering Faculty students, until winning the 1st and 2nd places in the international competition for innovative urban agriculture held in Italy in 2020 and 2021.
  • On the internal level, UB invests in developing its human resources and qualifying them to future leadership through the High Fliers program, to start the practical participation in framing the strategies and executive plans and practicing the real managing rules in UB.

 

The young leadership participated in a number of projects, such as: Nile Pioneers initiatives, developing digital products, banking awareness, training groups internal and external groups to rationalize the consumption, banking products development group, developing the cultural internal banking identity to UB team, and create corporate common values. As well as, giving the chance to young banking cadres to senior offices.

 

Commenting on The United Bank green and eco- friendly practices, Ashraf El Kady – president of The United Bank states that UB strategy in marching towards more eco- friendly practices and maximizing the green economy tools. The thing that needs to settle green economy on four dimensions:

  • Compliance: sustainable practices to save the environment and reduce climate change negative impacts.
  • Innovation: financial solutions and banking products that keep pace with green banking strategies, such as: green deposits, eco- friendly finance, green credit cards, green saving, and checking accounts. The thing that helps corporates with the ability to invest money in sustainable projects.
  • Support: in achieving fair and equity principles, such as: the right to work and equality among males and females.
  • Raising environmental awareness: through different media platforms to spread the “green banking” mechanisms.

El Kady, pointed out that banks have a fundamental role in empowering economic institutions and maximizing its role in boosting green growth. That’s through opening new investments horizons to business men and encouraging them to move into applying green economy mechanisms, while taking into consideration environmental dangers, climate change, project evaluation in terms of economy, environment and society.

The economic perspective: pushing the investment in innovating banking solutions and green financial products, and setting mechanisms to expand business horizons, whether banking or non- banking tools, especially modern digital technology field. The thing that contributes to reducing the need to new high- cost bank branches and maximize its market share.

The social perspective: the bank supports green banking projects to double up development rates and serve the citizen through funding sustainable projects.

The environmental perspective: applying green banking contributes to reducing carbon emissions. As well as, raising the awareness in rationalizing consumption in many banking business aspects, such as: reducing paper transactions, availability of services, bill payment through digital channels instead of the need to go to branches. The thing that wastes time and effort and energy. Many international alliances have been established, among them is the Global Banking Alliance, that acknowledges principles of “green banking”, which is built on developing communities and transparent governance.

 

End.