- Ten Principles include human rights, labor, environment, anti-corruption, and taking part in societal objectives.
Riyadh, Saudi Arabia – SAB announced that it has joined the United Nations Global Compact (UNGC) initiative — a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices.
UNGC is a major global initiative that runs towards more sustainable production and collective responsibility and is considered the largest corporate sustainability initiative globally.
Tony Cripps, Managing Director & CEO at SAB , said: “We are proud to join thousands of other companies globally, to commit and take part in responsible business practices, and play a vital role in the ten principles that UNGC advocates to create a better future for all of us.”
The Ten Principles of the UNGC initiative include human rights, labor, environment, and anti-corruption as well as taking action to advance societal objectives. SAB will play a significant role in implementing the Ten Principles and leverage UNGC’s strategy to support the UN global border sustainable development goals (SDGs).
SAB has made ESG a primary focus of its operations and is actively progressing towards a more sustainable and holistic approach to banking by leveraging its capabilities and ESG strategy.
The UN Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles and to act and support UN goals and issues embodied in the Sustainable Development Goals.
About SAB:
Saudi Awwal Bank (SAB) is one of the largest banks in Saudi Arabia dating back nearly 100 years and has since been an active partner in supporting the Kingdom's economic growth and social development. SAB offers a variety of financial and banking services, including corporate and investment banking, private banking and treasury services, as well as leadership in innovation, digitization, and the adoption of ESG standards. It operates under the supervision and control of the Saudi Central Bank, and it has a strategic partnership with HSBC. The bank's paid-up capital is 20.5 billion Saudi riyals.
About UNGC
Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.
Media contacts:
SAB
Mai Bin Dayel, Head of Communications & ESG; mai.a.bindayel@sabb.com
Turki Almiqbas, Senior Manager content development ; turkialmiqbas@sabb.com
