Wed 22 Mar 2023 3:52 pm - Jerusalem Time
Bank of Palestine issues its first sustainability report in accordance with the standards of the Global Reporting Initiative
Bank of Palestine issued its first sustainability report under the title “For a Green and Sustainable Future”, in accordance with the standards of the Global Reporting Initiative, as a commitment from the Bank to periodic and voluntary disclosure about adopting best practices in applying sustainability principles to deal with all segments of society and measuring the impact of these dealings on the environment.
The report focused on the main sustainability axes at Bank of Palestine (environment, society, governance), especially detailing the Bank’s achievements in the field of sustainability for the year 2021, in line with the Bank’s approach to achieving the sustainable development goals of its strategy, which is in line with the Bank’s internal strategy and the standards of sustainable development of the United Nations. United.
The report sheds light on Bank of Palestine’s efforts in achieving sustainability in previous years, including the year 2021, especially its financial, banking and service activities and operations, with the aim of reducing environmental impacts, enhancing social responsibility, working within the framework of governance, transparency, and striving to achieve financial inclusion.
The report includes several sections related to the Bank's approach to sustainability and its main indicators achieved internally and externally.
Mr. Hashim Shawa, Chairman of the Board of Directors of Bank of Palestine, expressed the utmost importance to the completion of this report, indicating the centrality of the Bank’s sustainability strategy, stressing that the focus on sustainability will continue through the adoption of a clear, ambitious and long-term policy and strategy, which will contribute significantly to the Bank’s direction towards a better future. He added that submitting such a report would increase the confidence of customers and investors in the bank and its performance, as it is the safety valve for the work of any institution seeking to advance its work and ensure its continuity.
For her part, Dr. Tafeeda Al-Jarbawi, Chair of the Sustainability Committee in the Board of Directors of Bank of Palestine, expressed her happiness at issuing the first sustainability report in Bank of Palestine for the year 2021, in line with its strategic directions towards focusing on sustainability as a main focus in planning, developing policies, operations, and banking and service activities, stressing that the Bank’s involvement in The path of sustainability stems from its compliance with values and concern for future generations by preserving the environment and the highest ideals in management and governance.
Al-Jarbawi added that the timing of the launch of the sustainability report, which will be launched periodically, coincides with the ambitious goals set by the Board of Directors within its strategy, since sustainability is an essential part of the fabric of our work, especially since we aspire to become pioneers in this field at the level of the banking and national sectors, by following Best practices that have a positive impact on the life of the Palestinian people.
In his turn, Mr. Mahmoud Shawa, General Manager of Bank of Palestine, confirmed that our future success as an institution is linked to enhancing transparency and effective communication with the bank’s customers, adding that the report constitutes a transparent and reliable reference for the bank’s various achievements and efforts during the past period, hoping that we will witness a clearer and practical application of sustainability standards in all of the bank’s operations. , including customer loans related to environmentally friendly projects, such as green energy, agriculture, water purification, waste and solid waste treatment, and its recycling process.
It is noteworthy that Bank of Palestine adopts international best practices, in accordance with sustainability standards, which take into account the provision of value-added financial and banking services that meet the aspirations of customers from various segments, while ensuring the measurement of the impact of operations on the local environment, to ensure the best methods of management and good governance.