Dubai: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has partnered with CoriolisESG by TradeSun, the world’s first company to provide automated ESG scoring solutions. The partnership aims to enhance the Group’s sustainability-linked transaction banking products and advisory services by leveraging the company’s extensive ESG rating framework.
The Group’s partnership with CoriolisESG by TradeSun will provide Emirates NBD’s Corporate and Institutional clients with access to ESG scores of their supply chain partners, which can be harnessed to encourage existing suppliers to adopt sustainable processes and facilitate the selection of new supply partners that support their own ESG goals. In addition, Emirates NBD’s clients will be able to mitigate ESG-related risk factors that may have a direct impact on profitability, including regulatory changes, negative operational activities and reputational risks.
CoriolisESG by TradeSun is an accessible, independent and highly effective artificial intelligence solution, delivered through a User Interface (UI) or an Application Programming Interface (API), that enhances enterprise intelligence and resilience by measuring key entity data against globally recognised frameworks, such as the UN Sustainable Development Goals and the EU’s Taxonomy Regulation. The information captured by CoriolisESG will also drive more sustainable business flows by providing insights into international business activity, risk assessment, regulation compliance and geopolitical risk.
Commenting on the announcement, Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said: “Emirates NBD’s partnership with CoriolisESG by TradeSun demonstrates the Group’s commitment to support our clients throughout their ESG journeys and provide them with a comprehensive suite of trade finance solutions. By harnessing the innovative automated solutions provided by CoriolisESG, our clients will be able to enhance their ESG credentials wherever they might be on their path to sustainability, especially when it comes to reducing third-party emissions from their supply chain. Corporations who encourage sustainable processes in their supply chain network enjoy a wider range of investors and the proliferation of ESG scoring will help companies forge stronger stakeholder relationships. Emirates NBD will continue to create partnerships to combat climate change and take measures that will accelerate the UAE government’s ‘UAE Net Zero 2050’ goal.”
Nigel Hook, Chief Executive Officer of TradeSun, added: “It is an honour to be selected by Emirates NBD to cooperate with them and their clients meet their sustainability goals. The underlying data fabric of CoriolisESG by TradeSun is unbiased and scalable, offering a unique and independent view of global business that will support greater sustainability and the flourishing of trade finance. We have built a great relationship with Emirates NBD and are looking forward to growing together in this critical area of the global economy.”
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.
For further information on Emirates NBD, please contact:
Senior Vice President
Head - Group Corporate Affairs