- oins group of 15 companies that took the pledge at the 11th National Climate Ambition Dialogue by the UAE Ministry of Climate Change and Environment (MOCCAE)
- Pledge further solidifies Group’s commitment to fight climate change and reduce its carbon footprint
- Group to also support the Third Update of the Second Nationally Determined Contribution (NDC), aiming to slash carbon emissions by 40 per cent by 2030.
Dubai, UAE Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has signed the UAE Climate-Responsible Companies Pledge initiated by the UAE Ministry of Climate Change and Environment.
As a part of its ongoing commitment to achieving net-zero goals, Emirates NBD Group is among the seventh cohort of 15 signatories in the UAE to sign the pledge and commit to implement carbon emission reduction goals and follow more sustainable methods in managing their operations, according to a timeline compatible with the UAE’s national path to climate neutrality by 2050. The pledge was made in the presence of Her Excellency Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment at the launch of the 11th National Dialogue for Climate Ambition organised by the Ministry under the slogan ‘Accelerating the Shift; Decarbonizing Ground Mobility’ in collaboration with Emirates Driving Company.
The initiative coincides with the UAE’s Year of Sustainability as the Emirate of Dubai prepares to host the Conference of the Parties (COP28) meetings this year.
The pledge commitments include organisations stepping up their collective efforts to combat climate change by measuring and reporting their greenhouse gas (GHG) emissions in a transparent manner, developing ambitious science-based plans to reduce their carbon footprint, and sharing these plans with the UAE government to contribute to achieving the national net-zero target by 2050. Moreover, signatories pledge to factor in climate change mitigation and adaptation as core values and principles of their businesses and operational models, and adopt an all-inclusive approach that engages youth, women, and vulnerable segments of society in developing their net-zero plans.
Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, said: “We are honoured to be a part of the UAE Climate-Responsible Companies Pledge and thank the UAE Ministry of Climate Change and Environment for the opportunity to support this initiative. As a leading local banking group, sustainability is embedded into our culture, operations and strategy and supports all strategic decision-making at the Group. The signing of the pledge further solidifies our commitment to supporting the UAE’s decarbonization efforts and is closely aligned with the Group’s sustainability framework.”
He added: “As the UAE prepares for COP28 this year, we look forward to innovative collaborations with other private sector companies and government entities in our effort to mitigate climate change.”
Aligned to its commitment to gender equality and diversity, the Group also joined the UAE Gender Balance Pledge to accelerate the achievement of the UN Sustainable Development Goal 5 (achieve gender equality and empower all women and girls) in June 2023. As a pledge member, the banking group shall work closely with the UAE Gender Balance Council to align with UAE’s vision to achieve the 17 UN SDGs specifically goal number 5 which aims at achieving gender equality and empowering women.
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 20 million customers. As at 30th June 2023, total assets were AED 811 billion, (equivalent to approx. USD 221 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 854 branches and 4,173 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 and is an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.