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Geneva: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has become an official signatory of the United Nations Principles for Responsible Banking – a single framework for a sustainable banking industry developed by the United Nations Environment Programme Finance Initiative (UNEP FI) alongside banks worldwide.
The Principles are the leading framework for ensuring that banks’ strategy and practice align with the vision society has set out for its future in the United Nations Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business, while allowing them to remain at the cutting-edge of sustainable finance.
Under the Principles, signatory banks identify and measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress. The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.
Vijay Bains, Chief Sustainability Officer and Group Head of ESG for Emirates NBD, said: “We are very proud to achieve this significant milestone to commit to the UN Principles for Responsible Banking. At Emirates NBD, we are committed to driving significant change, both in propelling clients’ growth towards more environmentally friendly financial practices, and in shaping a more sustainable world by incorporating Environmental, Social, and Governance (ESG) into our culture and operations. The adoption of this framework is a reflection of our dedication to fostering a future where financial success and environmental stewardship go hand in hand.”
Signatories to the Principles take on a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building a positive future for both people and planet. These banks also join the world’s largest global banking community focused on sustainable finance, sharing best-practice and working together on practical guidance and pioneering tools of benefit to the entire industry.
This is a journey of unprecedented scale and scope at a time when such ambition is urgently needed to address the major planetary crises of climate change, nature loss, pollution and social issues. Together, these efforts will ensure that profitability goes hand in hand with a sense of purpose.
As a leading local banking group, sustainability is embedded into Emirates NBD’s culture, operations and strategy. It supports all strategic decision-making across the Group.
Emirates NBD's sustainable and responsible business practices have had a direct, meaningful impact on the communities it serves, and the Group continues to lead the way in building more inclusive and empowered communities. By forging meaningful sustainability and innovation through focused collaborations with other private sector companies and government entities, Emirates NBD Group plays an important role in supporting the transition to climate neutrality across client sectors.
For more information on the Principles for Responsible Banking, please visit: www.unepfi.org/responsiblebanking
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 30th June 2024, total assets were AED 931 billion, (equivalent to approx. USD 253 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 859 branches and 4,491 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.89 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE’s Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Burson
Dubai, UAE
Tel: 971-4-4507600;
Email: emiratesnbd@bm.com