CIB’s energy-saving initiative reduces consumption by 35 Percent

26/02/2015

In recognition of the importance of saving energy, the Commercial International Bank (CIB) along with the Egyptian Ministry of Electricity and Renewable Energy launched an energy-saving initiative aims at reducing the energy consumption in the Bank’s branches, which count for more than 160 outlets across Egypt.

CIB commissioned a specialized company to replace the current traditional lighting systems with LED system; a modern technology used globally for energy saving purposes.

CIB succeeded to reduce 35% of energy consumption in the business tower of Merryland Branch. CIB, along with other entities such as CEDARE Organization, Oracle and UN whose offices are located in the same building, agreed to install the new LED system, which has led to this outstanding achievement. The LED installation process comes in the context of the “Project for Energy Efficiency Improvement”, which is implemented by the Ministry and UNDP.

Hisham Ezz Al-Arab, CIB Chairman and Managing Director, said that the implementation of this initiative reflects the bank’s full commitment towards the community and its social responsibility to support the national drive to better manage and save our energy. He added, CIB does believe in the importance of sustainability and this energy-saving initiative is an open invitation to all national organizations to support and contribute to its success.

Nadia Makram Ebeid, CIB Board Member and Executive Director of CEDARE stated that this initiative led to 35% decrease of the average monthly consumption of electricity in the building, in 2014. This achievement has exceeded our expectations, thanks to the replacement of the old traditional lighting system with the LED, she added.

From his side, Mohamed Moussa, First Undersecretary of the Ministry of Electricity declared that the ministry is supporting this type of voluntary initiatives, whether adopted by the private or public sectors, as they help reducing the load on the national grid. Moussa highlighted that 10 million LED lamps to be distributed to citizens, who can pay it in installments.

According to CIB

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