Dubai, UAE: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has been recognised as a leader in ESG initiatives among its UAE peers, by Euromoney Awards for Excellence 2023.

Emirates NBD was awarded ‘Best Bank for ESG in the UAE’ at the Euromoney Awards for Excellence 2023 in recognition of its strong growth in ESG metrics, swift introduction of green products, changes to its internal ESG structure and landmark sustainable deals.

As part of its long-term commitment to sustainability, Emirates NBD recently launched its Sustainable Finance Framework, which allows for the issuance of green and sustainable debt instruments to finance projects and enables the transition to a low carbon and climate resilient economy. Aligned with the framework, the bank was lauded for strong sustainable finance figures, reporting USD 12 billion provision in 2022, which pushed the sustainable financing portfolio above USD 40 billion. Landmark financing for corporate clients were key contributing factors to the award, including a USD 500 million green financing agreement and co-leading the first green sukuk in the UAE.

The bank was also commended for its significant reduction of greenhouse gas (GHG) emissions in its operations, registering internal emissions reduction per employee. The number of green car loans doubled, and bio cards issuance figures increased by 75%.

Shayne Nelson, Group CEO at Emirates NBD commented: “Winning this prestigious industry award is yet another proud moment for Emirates NBD, following our record financial performance over the first nine months of the year. It strengthens our position as industry leaders, defined by our commitment to innovation, financial excellence and above all, our customers and community. Looking forward, we are now very well positioned to continue enabling our customers’ efforts to be sustainable in their businesses and individual lifestyles. In doing so, we will also carry forward Emirates NBD’s proud legacy of supporting the UAE’’s remarkable growth and innovation story, just like we have over the last 60 years.”

Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, said: “At Emirates NBD we firmly believe that finance plays a key role in sustainability and we are pleased with the recognition we have received from Euromoney. It is a testament to our efforts in ensuring that Emirates NBD leads the way in sustainable finance in the UAE.   By issuing sustainable finance instruments including bonds, sukuk and other debt instruments, we provide enhanced transparency around funded projects and assets that carry environmental and social benefits.”

Emirates NBD's sustainability strategy is aligned with prominent global and national frameworks, including the United Nations Sustainable Development Goals (SDGs), the UAE's Vision 2030, and the United Nations Environmental Programme Dubai Declaration for Sustainable Finance, which marks the Group’s commitment to transforming the UAE into a green, low-carbon economy in support of the UAE Centennial 2071’s sustainability agenda. Furthermore, Emirates NBD announced its partnership in the capacity of Principal Banking Partner for the 28th edition of the United Nations Climate Change Conference (COP28), being held in November this year in Dubai, UAE.

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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 September 2023, total assets were AED 836 billion, (equivalent to approx. USD 228 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 853 branches and 4,213 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
e-mail: ibrahims@emiratesnbd.com

Safa Yakoob
asda’a bcw; Dubai, UAE
Email: Safa.Yakoob@bcw-global.com