Emirates NBD launches Sustainable Finance Framework

By Shilpa Annie Joseph, Official Reporter
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Emirates NBD launches Sustainable Finance Framework
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Emirates NBD has launched its Sustainable Finance Framework as part of its long-term commitment to sustainability.

The new Framework allows for the issuance of green and sustainable debt instruments to finance projects, which enable the transition to a low-carbon and climate-resilient economy. The Framework also provides the distribution of social debt instruments leading to a positive societal impact.

The Framework will cover Emirates NBD Group entities such as Emirates NBD, Emirates Islamic, DenizBank, and Emirates NBD Asset Management and will accelerate the Group’s efforts regarding innovative sustainable finance offerings.

Commenting on the announcement, Mr. Shayne Nelson, Group CEO at Emirates NBD, said that, “As a leading banking group in the region, Emirates NBD fully aligns with the UAE’s pro-climate, pro-growth philosophy. This Framework empowers Emirates NBD and our customers to help deliver the UAE’s journey to Net Zero emissions by 2050 and meet the ambitious interim reduction targets.”

HSBC and ING acted as sustainability structuring banks in developing the Framework, which aligns with the Group’s ambition to promote further lending and investments into assets with a positive environmental and social impact.

The Framework will assist Emirates NBD in reaching the UAE’s ambitious Sustainability Development Goals and targets set forth by the Paris Climate Agreement and the UN SDGs, while also ensuring the necessary due diligence and international best practices are in place to mitigate ESG risks.

Mr. Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, stated that, “Our Framework will ease access to ESG-labeled finance in alignment with COP28’s pledge to unleash finance for climate change. By issuing sustainable finance instruments, including bonds, sukuk, and other debt instruments, we will provide enhanced transparency around funded projects and assets that carry environmental and social benefits.”

According to the statement, Emirates NBD’s sustainability strategy is aligned with prominent global and national frameworks, including the UN SDGs, the UAE’s Vision 2030, and the United Nations Environmental Program Dubai Declaration for Sustainable Finance.

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