• How does CSR contribute to the creation of value for BMCI?
Corporate Social Responsibility (CSR) consists of the integration by the company of social and environmental concerns in its activities and its relations with its stakeholders. It allows the company to contribute to sustainable development and have a positive impact on society while being economically viable. CSR therefore contributes to the creation of more inclusive value for all stakeholders: customers, shareholders, investors, employees, partners and suppliers, communities, territories and civil society. Indeed, CSR requires continuous dialogue and attentive listening, which makes it possible to better understand the key expectations of stakeholders and the issues on which the company’s strategy must be based.
• What is your view on the awareness of Moroccan companies as to the importance of having a CSR line of conduct?
The CGEM has been promoting CSR since 2006 via its CSR label. In 2019, the AMMC published circular 03/19 which requires listed companies to submit annual ESG reporting. Bank Al-Maghrib published Directive 5/W/2021 in 2021, which recommends that financial institutions integrate climate and environmental risks into the risk management process. In addition, Morocco is committed to the global effort to implement the requirements of the Paris Agreement and the implementation of the 17 Sustainable Development Goals of the 2030 agenda. Several local initiatives and strategic plans can be cited as the National Sustainable Development Strategy (SNDD), the National Climate Plan 2030 (PCN) or the New Development Model. These events and initiatives demonstrate the strong awareness of Moroccan institutions and regulators of the need to implement an approach focused on sustainable development and aligned with sound practices and best practices. Moreover, the consequences of climate change are increasingly visible with the increase in the frequency and severity of extreme weather conditions. All of this only further strengthens the awakening of individual and collective consciences.
• What CSR approaches have you implemented at your bank?…
The BNP Paribas Group implemented a CSR approach in 2002, which was subsequently reinforced in 2010. This approach is structured around 4 main pillars: economic, social, civic and environmental responsibility. BMCI implemented its CSR approach in 2012 under the responsibility of the Strategy and Quality Department, which implemented a CSR action plan in 2013, with the priority of raising awareness and involving employees so that they can be fully involved in this process. It should be emphasized that even before the formalization of the CSR policy, BMCI implemented actions in line with the company’s social and environmental responsibility. Regarding civic responsibility, the BMCI Foundation, created in 2008, brings together all of the bank’s support actions to support socio-economic development in Morocco. BMCI also launched its volunteer program to encourage employees to become more actively involved in the association. In terms of environmental responsibility, BMCI was already one of the entities subject to Group environmental reporting, which makes it possible to audit energy consumption indicators, paper consumption, etc. each year. In 2013, major efforts were made under the Economic Responsibility pillar, with the implementation of sectoral policies. In reality, the different pillars are linked, because through sectoral policies, the environmental impact of business activity is taken into account. Another example of cross-functional action concerns responsible purchasing. Indeed, a company’s commitment to a responsible purchasing policy is fundamental to testifying to the solidity of its CSR approach. Thus, BMCI proceeds to the integration of CSR criteria in calls for tenders, in order to take into account the impact of suppliers on the environment, the impact on the health and safety of employees, as well as the social and societal impact. In 2016, BMCI formalized its CSR commitments in a CSR charter published on its corporate website. In 2019, BMCI carried out its first materiality study through a survey that involved thousands of people representing all of its stakeholders. This study made it possible to identify and prioritize the most material issues.
In addition, BMCI was the first bank to publish, in July 2020, a 100% digital, interactive CSR Report that meets international GRI reporting standards. In July 2022, BMCI published its first 2021 integrated report which highlights the bank’s CSR approach, its commitments, its financial and extra-financial performance: https://rapport-integre.bmci.ma. To this end, in 2022 BMCI received the 2nd prize for the best sustainable development report awarded as part of an annual competition organized by the Mohammed VI Polytechnic University of Benguerir, the Chair in Innovations and Sustainable Management at the University Mohammed VI, the Casablanca Stock Exchange and Finance Montreal. This distinction rewards the efforts undertaken by the bank to align its ESG reporting with the best international norms and standards.
BMCI is also assessed annually by Moody’s ESG on its extra-financial performance. This assessment allowed BMCI to integrate the ESG10 stock market index which brings together the 10 best companies listed on the Casablanca Stock Exchange, in terms of CSR performance. BMCI is also 2nd bank and top 5 in the Best Emerging Market Performers ranking, by VE Part of Moody’s ESG Solutions, which brings together the 100 best companies out of a total of 843 companies from 31 countries across all sectors.
All of this is an integral part of BMCI’s ambition to become a major player in sustainable finance.
• …and at the level of financing products?
Signed in September 2018, BMCI officially launched the Women In Business program in December 2019. This line of financing of 15 million euros to improve access to financing and know-how for women entrepreneurs. The program is aimed at SMEs run by women and combines financing and support in the form of advice, training, coaching and networking.
In December 2021, BMCI renews its partnership with the EBRD within the framework of the “GEFF Morocco” Program (Green Economy Financing Facility) or MorGEFF, up to 25 million euros. The latter is an EBRD program dedicated to…
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