Mashreq, one of the leading financial institutions in the Middle East and North Africa (MENA), has joined the World Green Building Council’s (WorldGBC) Advancing Net Zero Readiness Framework as a Collaborator in the MENA region to promote a Net Zero built environment in the region.
The initiative aims to create a community of Net Zero Collaborators to speed up investment and build confidence in Net Zero.
As a collaborator, Mashreq will showcase best practices and advance its own commitment to Net Zero, contributing to various initiatives to support the uptake of Net Zero in the MENA region. The collaboration will also aid the MENA Regional Network in its Net Zero positioning in the lead-up to the 2023 United Nations Climate Change Conference (COP28) in November this year.
“As the UAE prepares to host COP28 later this year, this program puts Mashreq at the forefront of shaping, contributing, and supporting the MENA region’s strategic direction towards Net Zero at a crucial time for the nation’s climate efforts.”
With over 480 million people, the MENA region has experienced rapid urbanization, projected to double its urban population between 2010 and 2050, leading to a growing demand for buildings. Collaborations between public and private entities are crucial for MENA nations to achieve the Net Zero global and regional goals.
Mashreq’s partnership with WorldGBC reflects its commitment to sustainable finance and tackling climate change, including its membership in the United Nations Global Compact initiative and the development of an ESG strategy and Sustainability framework deployed across the Mashreq network, including Egypt.