MANAMA: The National Bank of Bahrain (NBB) is exploring ways of introducing environmental, social, and governance (ESG) risk assessment into its business proposals.

The bank announced that integrating ESG considerations within its core business is a core component of its three-year sustainability roadmap.

This step further emphasises NBB’s commitment towards adhering to ESG considerations across the organisation and driving the strategy to achieve sustainability.

And as a part of its initial steps, NBB has signed a partnership with Sustainability Excellence, a recognised leader in sustainability advisory services, to benefit from its expertise in this field.

Commenting on the integration, Isa Maseeh, group chief risk officer at NBB, said: “The integration of ESG and sustainability practices into the bank’s risk framework embodies the essence of NBB’s business model, as it takes steps to implement ESG considerations within lending and investment proposals.”

Ali Ehsan, chief credit officer at NBB, said: “As ESG continues to grow in significance in our industry, this partnership is a key step in augmenting our credit risk management framework at NBB. Our investment in ESG strategy will help us scale our credit activities across the bank, ultimately furthering our ambition to be a sustainability leader bank in Bahrain and the region.”

Darin Rovere, founder and chief executive of Sustainability Excellence, said: “More than most companies - and faster than most companies - NBB has taken a proactive approach to adopting sustainability in the ways that matter most to a bank. In particular, this now means integrating sustainability factors, such as positive social, environmental, and socio-economic impacts – into lending and investment decision-making. This reduces lending risk, positions the bank for outperformance in the fastest growing sectors, and improves positive impacts for society. Sustainability Excellence is pleased to expand our collaboration with NBB to support all aspects of these sustainable finance efforts.”

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