Enabling Sustainable Mobility and Responsible Finance for a Livable Future
Table of
Introduction
Economic Performance
Contents
About this Report 04
Letter from the CEO 05
2024 Corporate Achievements 06
and Highlights
Brief Portrait
Overview of GB Corp 12
Our Portfolio 13
GB Corp's Shareholding 18
Structure
03
Sustainability Fundamentals
Stakeholder Engagement 21
Materiality Assessment 22
Sustainability Progress 23
04
Corporate Governance
Governance and Management 33
Business Integrity 37
and Conduct
Quality, Compliance 38
and Risk Management
Business Performance
Responsible Investment and Finance
Digitalization and Innovation Supply Chain Management Customer Experience
and Sustainability
Social Performance
Well-Being, Health and Safety
Diversity and Inclusion Human Potential
and Career Growth Supporting Society
Livable Planet
Climate and Energy
Sustainable Mobility Circular Economy Green Facilities
Annexes
Abbreviations and Acronyms
Limited Assurance Letter ESG Data
GRI Content Index SASB Content Index UNGC Content Index TCFD Content Index
44
48
53
58
61
67
69
71
74
83
85
87
89
95
96
99
108
120
122
123
01 Introduction
In this chapter
About this Report 04
Letter from the CEO 05
2024 Corporate Achievements 06
and Highlights
The Power of Mobility 3
INTRODUCTION BRIEF PORTRAIT SUSTAINABILITY FUNDAMENTALS CORPORATE GOVERNANCE ECONOMIC PERFORMANCE SOCIAL PERFORMANCE LIVABLE PLANET ANNEXES
About this Report
GB Corp is proud to present its 2024 Sustainability Report. This Report highlights our commitment to responsible growth, innovation, and sustainability across our operations. As we move forward, we remain focused on driving positive impact and shaping a more sustainable future.
Reporting Content and Scope
GB Corp 2024 Sustainability Report outlines our performance and progress on defined material topics and aligns with the expectations and requests of our stakeholders. The report covers the activities of GB Corp's headquarters, manufacturing facilities, service centers, and other administrative office buildings.
The Report has been prepared through collaboration among the various businesses and departments that comprise the group, and it has been overseen and approved by the GB Corp Board of Directors.
This is our eighth Sustainability Report and our third GRI Report. All reports are accessible on the GB Corp website. The provided data is limited to GB Corp's own operations unless stated otherwise.
Reporting Frameworks
This Report has been prepared in alignment with the GRI Standards and includes disclosures that follow the guidelines of the following frameworks: Sustainability Accounting Standards Board (SASB) - Automobiles Standard, the United Nations Global Compact (UNGC), and the Task Force on Climate-related Financial Disclosures (TCFD).
Assurance
Masader, Corporate Sustainability Consulting Firm (S.A.E.), has provided a limited assurance statement on the content of this report. For further details, please refer to the Limited Assurance Statement.
Reporting Period
This Report covers activities that took place from January 1st, 2024, to December 31st, 2024. The reporting cycle for this Report is one year.
Contact Point
SARAH MAGED
Investor Relations CSR Manager
sarah.maged@gb-corporation.com
GB Corp
Cairo Alex desert Road - Km 28 Mohawelat Road - Industrial Zone - Abo Rawash, Giza - Egypt
ir.gb-corporation.com
The Power of Mobility 4
INTRODUCTION BRIEF PORTRAIT SUSTAINABILITY FUNDAMENTALS CORPORATE GOVERNANCE ECONOMIC PERFORMANCE SOCIAL PERFORMANCE LIVABLE PLANET ANNEXES
Letter from the CEO
NADER GHABBOUR
Chief Executive Officer, GB Corp
Dear Stakeholders,
As we reflect on 2024, it's evident that our approach to sustainability is naturally embedded in the way we do business. At GB Corp, we've remained focused on aligning our growth with environmental stewardship, social responsibility, and strong governance. This Report highlights the impact we've made in these areas and the ongoing efforts to drive change.
Shaping the Future of Sustainable Mobility and Local Industry
In 2024, we continued to expand our electric and alternative fuel vehicle portfolio, introducing models that meet the evolving needs of our customers. Each innovation and partnership reinforces our commitment to green mobility. Simultaneously, we focused on enhancing our local manufacturing capabilities, particularly through the modernization of the GB Bus facility, which is vital for improving production efficiency and sustainability. As part of our broader strategy, we also increased local production of key automotive components, reducing reliance on imports and fortifying our supply chain. This commitment to local sourcing drives operational efficiency and supports industrial self-sufficiency and economic resilience.
Expanding Renewable Energy Across Our Operations
Our sustainability efforts extend beyond our products and into our operations. This year, we took further steps in incorporating renewable energy into our
manufacturing processes, expanding solar power usage across our facilities. This is an integral part of our strategy to achieve 75% renewable energy usage across all our facilities by 2030.
Empowering People Through Education and Community Initiatives
People are at the core of our sustainability efforts. In 2024, we proudly celebrated the 10th anniversary of GB Academy, which has empowered thousands of engineers, technicians, and business professionals to thrive in the rapidly evolving automotive industry. Through the Ghabbour Foundation, we continued to make impactful contributions to education, vocational training, and community development, further solidifying our role in driving long-term positive change. Our partnerships also expanded this year, with a focus on healthcare, financial support for underserved communities, and youth empowerment.
Advancing Financial Inclusion and Digital Innovation
Sustainability extends beyond environmental impact, creating equal opportunities, and driving digital transformation. Through GB Capital and its subsidiaries, we have made substantial progress in advancing financial inclusion, enabling individuals and businesses to access the tools and resources needed for growth. This year, we introduced innovative green financing solutions to support Egypt's transition to sustainable transportation. We also made significant advancements in digital lending and
payment solutions to further enhance financial inclusion for businesses and individuals alike. We also harnessed automation and virtual reality technologies to optimize our operations, boosting efficiency across multiple business units.
Strengthening Corporate Governance and ESG Practices
Strong governance is critical to our longterm sustainability. In 2024, we took notable steps to enhance our governance framework, ensuring transparency, accountability, and alignment with best environmental, social, and governance performance practices.
Looking Ahead
As we continue on this journey, our commitment to sustainability remains constant. While the road ahead presents challenges, it also brings abundant opportunities to innovate, create value, and make a meaningful impact.
I would like to extend my gratitude to our employees, partners, and customers for their continued trust and support. Together, we will continue to lead the way in sustainable mobility and finance, working towards a brighter, more sustainable future.
The Power of Mobility 5