Message from top Executives

Sustainability is key to Economic Recovery

“Sustainability is therefore key to the economic recovery. it is about devising a strategy for the upcoming generations, about striking the right balance, and doing the right thing for future generations.”

Pierre Guy Noël

Chief Executive of MCB Group Ltd

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“The Group’s corporate sustainability strategy aims at aligning business development and profitability with the notion of sustainability over time.”

Alain Law Min

Chief Executive Officer of MCB Ltd

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“Aiming for carbon neutrality for our country is ambitious, but it is a necessity. As a key financial actor, our role is to finance this transition to a low carbon economy by providing the appropriate financial products, services and support to our clients.”

Raoul Gufflet

Deputy Chief Executive Officer of MCB Ltd

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Our Sustainability Strategy

‘Success Beyond Numbers’ is MCB Group’s philosophy behind its strong commitment to be a responsible organisation. As a key financial institution in Mauritius, the organisation has a critical role to play in the economic development of the country by helping to tackle the known social, environmental and economic issues. The Group has redefined the way it measures success through ‘Success Beyond Numbers’, which focuses on value creation for its diverse stakeholders. There are three pillars for action in its Corporate Sustainability Programme, which was launched in November 2018.

The Group’s 2020-2026 sustainability strategic plan covers the three pillars:

A vibrant and sustainable local economy
Preservation of environmental and cultural heritage
Individual and collective
Responsible behaviour and governance

Our Material Issues

We have identified our material issues by considering our economic and geographical features as well as international issues affecting the banking sector. Our methodology is underpinned by two key analyses.

Our Sustainability Journey

Responsible Behaviour

MCB Group views responsible behaviour as a fundamental condition to secure the trust of its stakeholders. The organisation has built a strong ethical culture over the years by putting into place several corporate policies and procedures complying with all rules and relevant regulations and codes of conduct. The Group’s corporate values have a critical role to play in shaping the strategy and in engaging employees in order to promote ethical business.



Claim through whistleblowing


Sessions on fraud awareness, cybercrime, and Anti-Money Laundering and Combating the Financing of Terrorism. Participation of 197 employees from the Group including local and overseas subsidiaries


Financial crime risk management alerts investigated and closed


Internal suspicious transactions reports investigated, out of which 208 were filed at the Financial Intelligence Unit


Fraud/ alleged fraud cases investigated

The Group has several responsibilities that are directly linked to the support of human rights. These include creating employment and engaging its workforce, responsible banking, provision of financial services to clients, the purchase of goods and services, and social investment and philanthropy. MCB has committed to the Ten Principles of the United Nations Global Compact since 2007. We continuously apply these principles to our operations to ensure that human rights are included and respected. By also adopting the Equator Principles for project financing, we have demonstrated a strong commitment to upholding human rights.

We have implemented many actions in this area by engaging with our stakeholders namely employees, clients, suppliers, subcontractors, and the communities we serve. These actions are highlighted throughout this Sustainability Report.
MCB Ltd has voluntarily adopted the Equator Principles in May 2012 to identify, assess and manage environmental and social (E&S) risks in projects financed by the Bank. Those principles aim at implementing due diligence to support responsible risk decision-making. The Bank’s Environmental and Social Risk Management (ESRM) policy is founded on this framework and applies to any project entailing loans of an aggregate amount greater than or equal to USD 2 million and having a maturity of at least 24 months. Projects are grouped into three categories namely A, B and C, based on their potential impacts and risks. Category A indicates projects with potentially significant adverse and irreversible E&S impacts, Category B denotes projects with potentially limited adverse but largely reversible E&S impacts, and Category C designates projects with minimal or no E&S impacts.

Projects financed under the Equator Principles for the period July 2018 to June 2019

2 projects of Category A (as per EP reporting)

• Sector: 1 in Infrastructure and 1 in Power

• Geography: Europe, Middle East & Africa

We always place clients at the heart of everything we do. As the leading bank in Mauritius, we strive to offer clients tailored and simplified solutions and experiences to help them meet their goals, therefore contributing to their financial well-being and prosperity. MCB is continuously improving on the accessibility of its products and services through the geographical locations of its multiple branches and by connecting digitally to its customers.



Individual Customers


Non-individual Customers


Rupys Accounts (for children aged under 18)


Branches including kiosks (24/7)



A Vibrant and Sustainable Local Economy

The Group has been supporting entrepreneurship and innovation in Mauritius for over 180 years and as a result, has contributed to the country’s prosperity. We are very conscious of the fact that global challenges such as climate change, water crisis, biodiversity loss and natural disaster, in addition to the current economic crisis, are influencing our way of doing business. This systemic assessment has motivated the Group to redefine its responsibilities and review its role as an active steward of the country’s economic growth. The thinking has led to exploring new ways to achieve greater and sustainable prosperity.



In 2019, a study entitled ‘Lokal is Beautiful’ together with a corresponding credit facility ‘Lokal is Beautiful’ scheme targeted at small and medium local enterprises (SMEs), were launched. The aim was to inspire entrepreneurs to explore three kinds of avenues in order to build the prosperous, sustainable and resilient Mauritius of tomorrow. The scheme has lower interest rates and more flexibility for SMEs that have a local impact and responsible operations, and was initially designed for financing capital expenditure. We are currently reviewing the ‘Lokal is Beautiful’ scheme by widening its scope to make it a general purpose loan through partial adoption of Sustainability-Linked Loan Principles.


Making Mauritius a ‘maker island’ means increasing its ability to produce what it consumes using local ressources (human, material, technical, natural)

‘Looping the loop’ of local economic and material circuits to make Mauritius a ‘circular island’ can be a powerful generator of wealth and innovation.

What if the island’s economic intelligence consisted in creating value rather than products ?

Our Environmental and Cultural Heritage

The preservation of the environment is all the more important for an island like Mauritius. MCB Group recognises the importance of preserving this natural heritage, which not only supports people but also the ecosystem, biodiversity and habitat of many species. We are also aware of the potential impacts of climate change on the natural heritage, the country’s economy as well as the living conditions of its population. Mauritius’ rich cultural heritage comprises historic features, national monuments, museums and UNESCO sites.

Although the direct environmental impacts of the Bank are relatively lower than those generated from its financing activities, there is continuous effort toward reducing the intensity of said impacts. We have identified four objectives and have set targets until 2023 to address our key direct impacts on the environment.



23% reduction on energy intensity by 2023

Carbon footprint

To be carbon neutral by 2023


25% reduction on water consumption intensity by 2023


Below 100 tonnes of paper use by 2023
[Data shown for each objective including waste management cover the calendar years (January to December) and relate to MCB Ltd only.
The base year period for monitoring of the objectives is January-December 2018 except for paper consumption.]

Carbon Footprint

The direct GHG emissions of the Bank are continuously being measured and monitored since 2010. Measures taken recently for reducing direct carbon emissions focused mainly on efficient energy consumption in buildings, the purchase of hybrid cars, provision of a common transport system for employees who commute as well as a reduction in business travel by air as far as practicable.

In 2019 our total carbon footprint* was 17,345 tonnes CO2-eq, showing a decrease of 6% from 18,412 tonnes CO2-eq in 2018 in absolute terms. The carbon emissions intensity decreased significantly by 13% during the same period.


Target: To be carbon neutral by 2023 (operations)
Progress: Carbon neutrality has been achieved for total carbon emissions in 2018

Employee commuting
(Scope 3)
Business travel by air
(Scope 3)
Loans Financed projects**
(Scope 3)
Paper use
Water consumption
IT resources
Waste generation**
(Scope 3)
(Scope 2)
Fuel and Refrigerants
(Scope 1)
*[MCB Carbon emissions was calculated according to the Greenhouse Gas Protocol, developed by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD) that set the global standard on how to measure, manage, and report greenhouse gas emissions.]
**Emissions from paper and water consumption, purchase of IT resources, waste generation, and loan disbursed and financing activities are excluded in the total carbon emission figures shown.

Our Commitment to the New Climate Economy

Climate change is one of the biggest challenges of our century with scientific evidence that shows the vulnerability of human and natural systems to a global warming that exceeds 2°C. Scientists estimate that an increase of 1.5°C will still have huge implications but would be manageable. Conversely, a rise in temperature above 2°C would cause severe impacts. In this struggle to getting to the 1.5-degree pathway, actors of the finance and banking sectors will have a crucial role to play in financing the transition from a carbon-intensive present to a climate-friendly future. As part of its ‘Success Beyond Numbers’strategy, MCB Group intends to play its part by adapting its operating and financing practices, but more broadly by educating and mobilising all the economic, social and political actors of Mauritius. The Group has therefore commissioned a study ‘Klima Neutral 2050’ to address the challenge relating to climate change. Promoting carbon neutrality is a way to help Mauritius look ahead to a future that is secure and sustainable.

Find out more on

Klima Neutral 2050
The Group has setup an online carbon compensation platform (, allowing its corporate clients to estimate and compensate for their greenhouse gases emissions through funding of energy transition projects and carbon sinks in the Indian Ocean region and worldwide. ‘Klima Neutral’ is a platform set up in partnership with BNP Paribas’ social enterprise ClimateSeed.

More information

Individual and Collective Well-Being

The Group’s success is attributed, inter alia, to teamwork and integrity as well as the experience and skills of its people. It has always focused on meeting the expectations of its people and its customers, in addition to helping the community at large. MCB Group is consistently engaged in its Corporate Sustainability Programme in the following areas:

  • • Employee development and engagement
  • • Workforce diversity and inclusion
  • • Human rights and labour
  • • Financial literacy
  • • Community support


  • 1,419
  • 1,504



  • 168
  • 230



  • 159
  • 38



  • 84
  • 69



  • 45
  • 13



  • 1,875
  • 1,854



Workforce Diversity and Inclusion

Our workforce reflects the diversity of our multicultural population. The Group has an Equal Opportunity Policy in place since 2013. This policy dictates that, all employees be given full opportunity to use their talents, skills, experience and competence. It also enumerates that employees feel respected and valued regardless of their status, that is, age, caste, colour, creed, ethnic origin, impairment, marital status, place of origin, political opinion, race, sex or sexual orientation. In 2019, we made a commitment for at least 40% women to be appointed at middle and senior management level by 2026 at MCB Ltd. This includes women at Business Manager, Business Leader and Business Executive levels. A gender working group has been set-up to execute the identified courses of action in alignment with the ‘Success Beyond Numbers’ strategic priorities.

Target: At least 40% women to be appointed at middle and senior management level by 2026 at MCB Ltd Progress: For the year ending 30 June 2020, we had 27% women representing middle and senior management level


  • 0% 100%
  • 25% 75%
  • 29% 71%
  • 42% 58%
  • 46% 54%
  • 65% 35%
  • 1% 99%
  • 54% 46%

Social Leave Programme

In an endeavour to increase the engagement of employees in CSR activities, the MCBFF in collaboration with Marketing and Communication SBU coordinated the implementation of the MCB Social Leave programme.
Our 385 employees have dedicated 2,126 hours to six NGOs in various activities :

service image

Ebony Forest

Weeding and planting

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Leonard Cheshire Home

Entertaining the elders

service image

Mauritian Wildlife Foundation

Cleaning up of islets, weeding and potting

service image

Plankton Recycling

Recycling of bottles

service image

SOS Village Beau-Bassin

Painting of housing units

service image

Union Park Women Association

MCB Group

Annual Report 2020