Environmental Protection

Special Feature Story

Bank Audi signed the Lebanon Climate Act, an innovative platform in developing a climate for a sound Lebanese economy in line with environmental concerns. The Lebanon Climate Act is a program organised by Green Mind in collaboration with the United Nations Development Program (UNDP) under the patronage of Central Bank Governor H.E. Riad Salameh.
The program mainly aims at creating economic growth in a way that also creates value for the society by addressing climate change challenges. The Lebanon Climate Act was launched through an inspiring power panel presided by Governor Salameh, Mr. Carlos Ghosn, CEO of the Renault-Nissan Alliance, Mr. Luca Renda, UNDP Lebanon Country Director, Mrs. Nada Zaarour, President of Green Mind, and moderated by Mr. Gilbert Tegho, CEO of e-EcoSolutions.
The Panel addressed more than 250 individuals of the private sector’s elite CEOs and decision-makers, to empower them towards catalysing their involvement in the wider climate change community. Its objective was to provide a space for businesses to showcase and support climate action through concrete initiatives and multistakeholder approaches, thus helping them contribute in a sustainable and profitable manner to a strong and effective response to climate change.

Governor Salameh declared that “economic growth cannot be achieved without environmental initiatives that protect our country’s environment and our health“. The Central Bank is greatly backing and believes in the Lebanon Climate Act initiative which complements the financial incentives that the Central Bank has already put in place to support the development of environmental projects through subsidised environmental loans [...]. More than 500 million dollars have been invested in the construction industry through low interest loans over 7 years.”

Mr. Carlos Ghosn underlined that “climate change is a threat, but there are many solutions and opportunities to overcome the challenge, and that is where business comes on the table. All the sectors have to contribute in order to get results while witnessing economic growth. The reality comes in changing mindsets, changing products, acting.” Ghosn mentioned that “the solution comes in a combination between technology development on one side, and taxation and financial incentives that can get the real drive towards eco-friendly products and towards reaching our CO2 reduction goals on the other.” He added, “we should be ready to tackle the hard tasks to put things in action and reach our objectives.”
The Lebanon Climate Act was launched with the
”ليرجع يتنفس لبنان وقّف نفسك دقيقة“ (hold your breath for a minute so that Lebanon can breath) campaign through which hundreds of Lebanese citizens expressed their support to the program and urged the private sector to join the Act through holding their breath for one minute, filming it, and sharing it on social media.

The Lebanon Climate Act’s one-year program includes a roadmap of support sessions for the private sector and non-governmental organisations entitled “The Business Knowledge Platform” and hosted by the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon.
This platform aims at enabling businesses to design and implement activities which reduce the impact of climate change, and at capturing success stories to inspire others. Participants are led through the fundamentals of climate change and how organisations can measure and manage their impact, using case studies and practical exercises and tools. In sum, it provides the essentials for establishing a credible strategy and developing leadership in the field of climate change.
Bank Audi Signs the Lebanon Climate Act.