Regulatory Alerts2022-12-20 | CBE14.3Added · Updated
CBE Regulation Book 14.3 - Instructions On Sustainable Finance
All banks operating in the Arab Republic of Egypt must integrate sustainable finance policies into their credit and investment frameworks by October 1, 2023, and establish an independent sustainability and sustainable finance department by April 1, 2023. Banks are required to submit semi-annual implementation reports by July 31 and January 31, quarterly quantitative reports on sustainable finance activities, and an annual sustainability report aligned with Global Reporting Initiative (GRI) standards by March 31, starting in 2024. Additionally, banks must engage an environmental consultant approved by the Ministry of Environment to assess environmental risks for major corporate projects beginning in July 2023.
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