Manama, Bahrain: The National Bank of Bahrain (NBB) has been awarded the Outstanding Leadership in Sustainability Transparency Award from Global Finance’s Sustainable Finance Awards 2021. The award is a recognition of the bank’s continuous efforts to implement sustainability practices as an essential element in its business operations.
As part of Global Finance’s newest awards programme, the bank was acknowledged for its transparency through its disclosure of Bahrain’s first fully integrated Annual Financial and Sustainability Report for 2020. The Report covered the Bank’s mind-set, framework, approach and progress to key elements of sustainability.
Being industry leaders nationally, NBB has also established a 3-Year Sustainability Roadmap that focuses on its future endeavours towards implementing a greener approach to its products and services. This business strategy has been formulated into measurable Key Performance Indicators (KPIs) that several departments have already begun implementing through self-driven initiatives with a shared responsibility towards sustainability.
Mr. Joseph Giarraputo – President and Editorial Director of Global Finance, said: “The National Bank of Bahrain maintains a consistent approach of transparency in disclosing both financial and non-financial information and ESG initiatives and KPI’s to its stakeholders. In 2020, NBB published Bahrain’s first fully integrated Annual Financial and Sustainability report which contributed to the thorough disclosure of information at a bank-wide level. The bank has specifically aligned its regulations and goals through the Central Bank of Bahrain and Bahrain’s 2030 vision and with the UN’s Sustainability Development Goals.”
Commenting on the award, Russell Bennett, Group Chief Financial Officer at NBB, said: “It is an honour to be recognised for our outstanding leadership in sustainability transparency by Global Finance. The award is a testament to the efforts we have been exerting over the past year to provide a clearer picture of our activities, both financial and non-financial, to our stakeholders. An example of our dedication is the establishment of the investor relations committee earlier this year in an effort to remain closer to our stakeholders. As a founding member of the Bahrain Chapter of the Middle East Investor Relation Association, we at NBB have also taken steps towards upgrading our communications efforts by publishing NBB’s financial and non-financial results, creating quarterly videos that encompass the bank’s initiatives, and holding quarterly investor’s meetings that serve to position us as a responsible, communicative entity within the financial sector.”
Dana Buheji, Group Chief Human Resource and Sustainability Officer at NBB, stated: “We have made significant headway over the past year in steering the bank towards a more sustainable and transparent method of operation. Our main objective is to become a stakeholder-inclusive organisation by continuing to adopt sustainability and sustainable governance into our core operations. Whether it is creating an internal governance framework, or establishing a sustainability committee within the bank to implement on-ground initiatives, or embracing sustainability at the board level; our efforts at NBB are centred on a joint collaboration that bring all parties together towards a more transparent and sustainable future for the benefit of the organisation as a whole.”
The awards programme honours regional and global leaders in Sustainable Finance who fund initiatives designed to mitigate the negative impacts of climate change and help build a more sustainable future through their various businesses.
NBB continues to launch various initiatives that contribute towards the advancement of sustainable ideas and business practices while moving to shift the banking industry towards becoming more environmentally conscious.
© Press Release 2021