EFG Hermes Reaffirms its Commitment to Being at the Forefront
of Change with the Issuance of its First Sustainability Report
Stemming from a commitment to public responsibility and sustainable business practice, EFG
Hermes details the integration of sustainability within its overall strategy
Cairo, 2 June 2015
EFG Hermes, the leading investment bank in the Arab world has redefined its vision for the future as
an institution that fosters a culture of inclusion and incorporates sustainability practices across its five
lines of business. Today the firm announced the issuance of its first Sustainability Report for 2014
detailing the integration of sustainability in the firm’s overall strategy, which is firmly rooted in the
adherence to six core principles: People, Products, Positioning, Presence Profitability and Public
Responsibility.
“As the leading investment bank in the region, it is EFG Hermes’ responsibility to set the
example by constantly evolving and adopting global best practices,” said EFG Hermes
Chairperson, Mona Zulficar. “The world around us has evolved and we must rise to meet the
new challenges. Economic prosperity can no longer be measured purely on the basis of
financial rewards, we must also seek the integration of environmental and social
sustainability across all growth and development models.”
“That is why in 2014 we have integrated public responsibility as a new principle to our
guiding strategy. It is a responsibility that sees us truly committed to aligning our business
practice with sustainability and ensuring that value creation does not come at the expense of
the society, environment or overall economies of the countries in which we do business,”
Zulficar added. “The issuance of our first Sustainability Report is only a first step in instilling
sustainability at the corporate governance, business units and community development levels
of our organization.”
In 2014 EFG Hermes established a sustainability committee, which is in charge of setting
targets and establishing procedures to integrate sustainable business practices across all lines
of business. In addition to streamlining financial and sustainability reporting across the firm,
EFG Hermes has actively invested and will continue to invest in landmark projects that bring
about both financial and environmental benefit.
“We recognize that staying at the forefront of our industry entails integrating sustainability
parameters into our investment models,” said Karim Awad, CEO of EFG Hermes. “Our
newly articulated social purpose sees us committed to leveraging our financial expertise and
human capital to promote investments that have significant environmental and social returns
in addition to being financially rewarding.”
Awad highlighted that EFG Hermes is keen on promoting innovation of all forms and has
thus far shown particular interest in the areas of clean and renewable energy with recent
investments in three landmark projects that will have a significant positive impact on both the
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environment and the economy. Private Equity acquired a 49% equity stake in French wind
energy company EDPR France and through its infrastructure investment fund, InfraMed, the
firm has also invested in Tafila Wind Farm in Jordan and the Egyptian Refining Company,
which will produce Euro V diesel, the cleanest-burning diesel fuel in the world.
As a responsible corporate citizen, EFG Hermes is also striving to tackle some of Egypt and
the region’s most pressing social problems such as poverty, illiteracy and the lack of proper
healthcare through the projects undertaken by the EFG Hermes Foundation.
“The EFG Hermes Foundation aims to achieve maximum impact by adopting an integrated
development approach that relies on partnership to maximize resources and ensure that
projects are sustainable,” said Hanaa Helmy, CEO of the EFG Hermes Foundation and
Chairperson of the Sustainability Committee. “We believe that this approach is both
ambitious and unique as it allows us to work on the rehabilitation of entire communities
starting with infrastructure development and encompassing comprehensive economic and
human development initiatives with the overall objective being the long-term alleviation of
poverty,” she added.
Thus far the integrated development approach has been implemented successfully by the EFG
Hermes Foundation in the village of Ezbet Yacoub in Beni Sweif. The Foundation is
currently implementing the same approach in Al Makhzan village in Qena.
“Underpinning all of these endeavors is our core value of integrity. We place the highest
value on ethics, transparency, accountability and risk management, and strive to always be
trusted partners to all our stakeholders,” added Awad.
To view the full report please click here
— Ends —
Notes for Editors:
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world, draws on 30
years of experience to serve as the preeminent investment bank in the region to provide a
comprehensive spectrum of financial services including Investment Banking, Asset Management,
Securities Brokerage, Research and Private Equity. Additionally, EFG Hermes owns a 63.7%
majority stake in the Lebanese commercial bank Crédit Libanais.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the UAE,
with more than 800 employees of 25 nationalities, EFG Hermes serves a considerable and diversified
client base from the Middle East and North Africa to Europe, Africa and the United States. Our
clients include governments, corporations, financial institutions, high net worth clients and individual
customers.
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In 2015, the firm announced the start of operations for EFG Hermes Leasing, a whollyowned subsidiary offering leasing services and highly sought-after, value-added advisory to
large corporations and SMEs across Egypt.
About EFG Hermes Foundation
As part of its social responsibility towards the communities in which it operates, EFG Hermes
established the EFG Hermes Foundation in 2006. The EFG-Hermes Foundation is an independent,
non-profit, non-governmental organization. Its mission is to assist people and institutions overcome
the financial, educational and health-related challenges facing our society.
The Foundation aims to support innovative and sustainable programs that increase the opportunities
for those most in need to make a positive change in our local communities.
The EFG Hermes Foundation mainly focuses on healthcare and poverty alleviation in Egypt by
helping combating widespread diseases and supporting development initiatives in the housing, water,
sanitation, and income generation areas. Other program of interest include education, the
environment, gender equality, employment, children rights, youth development, and microfinance.
Since its launch, the Foundation has played a significant role in the development of the society by
working with reputable institutions and NGOs on several projects including and not limited to: Unite
for Children: Street Children Initiative; Youth Sustainability and Viability Fund; The Paper Recycling
and Graphics Center; Nazlet Hussein Housing Project in Menya; Bani Khaled Water and Latrine
Facilities in Menya; Hepatitis C Awareness and Combat; Hepatitis B Vaccination campaign for
college students; Microfinance; Medical Convoys; School Feeding Program; Community Center for
Art for Development; Poverty Alleviation of Ezbet Yacoub in Beni Sweif; Support Children with
Cerebral Palsy and the Student in Free Enterprise (SIFE).
For further information about EFG Hermes, please visit www.efghermes.com and stay connected with
us:
For further information, please contact:
EFG Hermes Media
media@efg-hermes.com
May El Gammal
Head of Marketing
melgammal@efg-hermes.com
Note on Forward-Looking Statements
In this press release, EFG Hermes may make forward looking statements, including, for example, statements
about management’s expectations, strategic objectives, growth opportunities and business prospects. These
forward-looking statements are not historical facts but instead represent only EFG Hermes’ belief regarding
future events, many of which, by their nature are inherently uncertain and are beyond management’s control
and include among others, financial market volatility; actions and initiatives taken by current and potential
competitors; general economic conditions and the effect of current, pending and future legislation, regulations
and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date on which they are made.
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