Last checked at 1 Feb 2017 09:10
Press Release
EFG Hermes' Inclusion in the FTSE4GOOD Emerging Index Reflects Firm-Wide Commitment to Sustainable Business Practices
EFG Hermes is among only six MENA constituents included in the new FTSE4GOOD Emerging Index, which measures the performance of companies demonstrating strong environmental, social and governance practices (ESG)
Cairo, 30 January 2017
EFG Hermes, the leading financial services corporation in the Middle East and North Africa (MENA) region, was named as one of six MENA constituents in the FTSE4GOOD Emerging Index, launched by FTSE Russel in December 2016 to measure and recognize the performance emerging market companies, in more than 20 countries, who have demonstrated exemplary ESG practices. Inclusion in the index is a culmination of a firm-wide effort to integrate sustainability into every aspect of EFG Hermes' operations.
"To ensure that the creation of shareholder value does not come at the expense of the societies, the environment, or the economies of the countries in which we operate, we decided to add Public Responsibility as one of the six pillars of our business strategy against which we benchmark our performance," said EFG Hermes CEO, Karim Awad. "Being a constituent of an important, new global sustainability index is a strong indication that we are on the right track. We will continue to advocate social responsibility, environmental awareness and governance both internally and externally."
In addition to validating the firm's commitment to global best practices in ESG, inclusion on the FTSTE4GOOD, which is used as a transparent and objective performance benchmark, will give potential investors further assurance that EFG Hermes leads by example when it comes to incorporating strict ESG guidelines across its lines of business, operations and internal practices. The index includes over 300 indicators and criteria across 14 themes such as climate change, water usage, human rights & community, labor standards, health & safety as well as governance, an area that EFG Hermes views as vital to the integrity of its operations.
"By aligning corporate strategy with best-in-class ESG practices we have been able to successfully challenge traditional operating models," said Hanaa Helmy, Head of CSR at EFG Hermes. "Today, our strategy incorporates environmental, social and governance in addition to corporate social responsibility through the work of the EFG Hermes Foundation. Sustainability as a concept has impacted new investments we have made in microfinance and leasing solutions for SME's through EFG Hermes Finance as well as ventures in renewable energy through our private equity division."
EFG Hermes has been a member of the United Nations Global Compact (UNGC) since 2011 and has won numerous sustainability awards such as Social Sustainability Leader of the Year (2016) from the UK's CEO Insight Magazine.
For more information on our sustainability programs kindly access our latest sustainability report here.