• Program puts Mashreq at the forefront of shaping the MENA region’s strategic direction towards Net Zero in line with its Rise Every Day motto

Dubai, UAE: Mashreq, one of the leading financial institutions in the Middle East and Africa (MENA) region, has joined the World Green Building Council’s (WorldGBC) Advancing Net Zero Readiness Framework as a Collaborator in the MENA region. The initiative aims to build a community of Net Zero Collaborators to increase confidence and speed up the investment for a Net Zero built environment in the region.

With this collaboration, Mashreq will be able to showcase industry best practice as well as further its own commitment to Net Zero and accelerate the WorldGBC’s MENA Advancing Net Zero programme by engaging with key stakeholders, contributing to various initiatives to support the uptake of Net Zero across the region, and contributing towards the Net Zero positioning of the MENA Regional Network in the run up to the 2023 United Nations Climate Change Conference (COP28) in November this year.

Currently home to over 480 million people, the MENA region’s population growth has been strongly characterised by rapid urbanisation and is projected to double its urban population between 2010 and 2050. With the resulting increasing demand for buildings MENA is set to be critical for the growth of green buildings globally over the next few years. In this context, collaboration between public and private sector entities becomes paramount for nations in MENA to remain on track to achieve the Net Zero global and regional goals.

Commenting on Mashreq’s status as Collaborator for the WorldGBC’s Net Zero Readiness Framework for MENA, Ahmed Abdelaal, Group Chief Executive Officer, Mashreq, said: “Today, we are proud to announce that Mashreq has joined the WorldGBC’s Net Zero Readiness Framework for MENA as a Net Zero Collaborator, another milestone in our commitment to a more sustainable world and in alignment with the UAE’s Net Zero vision. As the UAE gets ready to host COP28 later this year, this program puts Mashreq at the forefront of shaping, contributing, and supporting the MENA region’s strategic direction towards Net Zero at a crucial time for the nation’s climate efforts. As a regional bank with global presence, this strategic collaboration is yet another step in the right direction that allows us to Rise Every Day as the region rises to the challenges of ESG, climate action, and Net Zero.”

The partnership with WorldGBC comes as part of Mashreq’s wider commitment to tackling climate change and supporting sustainable finance as a fundamental enabler of the transition to a more sustainable world. In 2022, the bank also joined the United Nations Global Compact initiative to further push its efforts to embed strong ESG practices across the organization, and developed an overall ESG strategy and Sustainability framework that is being deployed across the Mashreq network, including Egypt.

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About Mashreq

Mashreq is more than half century old bank, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers, all the way to powering some of the region’s most prominent corporations and wealth accounts.

The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them reach fulfillment, achieve financial goals, and unlock their vision of success.

Reassuringly present in major financial centers of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers.

Find your way to Rise Every Day at Mashreq.com/RiseEveryDay  

About the World Green Building Council

The World Green Building Council (WorldGBC) is the largest and most influential local-regional-global action network, leading the transformation to sustainable and decarbonised built environments for everyone, everywhere. Together with 75+ Green Building Councils and industry partners from all around the world, we are driving systemic changes to:

  • Address whole life carbon emissions of existing and new buildings
  • Enable resilient, healthy, equitable and inclusive places
  • Secure regenerative, resource efficient and waste-free infrastructure

We work with businesses, organisations and governments to deliver on the ambitions of the Paris Agreement and UN Global Goals for Sustainable Development (SDGs).

Find out more www.worldgbc.org