2023-09-06 22:06:52
Emirates NBD announced yesterday the launch of the Sustainable Finance Framework, which allows the issuance of green and sustainable debt instruments to finance projects that enable the transition to a low-carbon economy that is able to deal with and adapt to climate change.
The bank stated in a statement that the framework also allows for the issuance of social debt instruments capable of having a positive societal impact.
The framework will cover Emirates NBD Group entities such as Emirates NBD, Emirates Islamic, Deniz Bank and Emirates NBD Asset Management.
It will accelerate the group’s efforts in terms of innovative sustainable financing propositions.
HSBC and ING Banking Group acted as sustainability structuring banks in developing the framework, which is in line with the group’s ambition to encourage more lending and investment in assets with a positive environmental and social impact.
The framework will support Emirates NBD in achieving the UAE’s ambitious Sustainable Development Goals, those set out in the Paris Climate Agreement and the United Nations Sustainable Development Goals; While ensuring the implementation of the necessary due diligence procedures and the application of international best practices to mitigate ESG risks.
“There is no doubt that adopting this framework will enable us and our customers to contribute to completing the country’s efforts to achieve climate neutrality by 2050,” said Shane Nelson, CEO of Emirates NBD Group.
Emirates NBD’s sustainability strategy is in line with the most prominent global and national frameworks, including the United Nations Sustainable Development Goals, the UAE Vision 2030, and the United Nations Environment Program’s Dubai Declaration on Sustainable Finance, which indicates the bank’s commitment to transforming the UAE into a green, low-carbon economy to support Sustainability agenda in the UAE Centennial 2071.
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