Emirates NBD Group signs UAE Climate-Responsible Companies Pledge

Published on August 7, 2023

Emirates NBD has signed the UAE Climate-Responsible Companies Pledge initiated by the UAE Ministry of Climate Change and Environment.

Emirates NBD Group is among the seventh cohort of 15 signatories in the UAE to sign the pledge, commit to implementing carbon emission reduction goals, and follow more sustainable methods in managing their operations, according to a timeline compatible with the UAE’s national path to climate neutrality by 2050.

The pledge was made at the launch of the 11th National Dialogue for Climate Ambition organised by the Ministry under the slogan ‘Accelerating the Shift; Decarbonising Ground Mobility’ in collaboration with Emirates Driving Company.

The initiative coincides with the UAE’s Year of Sustainability as the Emirate of Dubai prepares to host the Conference of the Parties (COP28) meetings this year.

The pledge commitments include organisations stepping up their collective efforts to combat climate change by measuring and reporting their greenhouse gas (GHG) emissions transparently, developing ambitious science-based plans to reduce their carbon footprint, and sharing these plans with the UAE government to contribute to achieving the national net-zero target by 2050.

Moreover, signatories pledge to factor in climate change mitigation and adaptation as core values and principles of their businesses and operational models and adopt an all-inclusive approach that engages youth, women, and vulnerable segments of society in developing their net-zero plans.

Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, said, “As a leading local banking group, sustainability is embedded into our culture, operations, and strategy and supports all strategic decision-making at the Group. The pledge signing further solidifies our commitment to supporting the UAE’s decarbonisation efforts and is closely aligned with the Group’s sustainability framework.”

He added, “As the UAE prepares for COP28 this year, we look forward to innovative collaborations with other private sector companies and government entities in our effort to mitigate climate change.”

Aligned with its commitment to gender equality and diversity, the Group joined the UAE Gender Balance Pledge to accelerate the UN Sustainable Development Goal 5 (achieve gender equality and empower all women and girls) in June 2023. As a pledge member, the banking group shall work closely with the UAE Gender Balance Council to align with UAE’s vision to achieve the 17 UN SDGs, specifically goal number 5, which aims at achieving gender equality and empowering women.

Source: Ahlam Almazrooi and Rola AlGhoul, WAM (Emirates News Agency)