Emirates NBD has launched a sustainable finance framework.
Which is a major step in the bank’s commitment to sustainability.
It provides a comprehensive framework for issuing green, sustainable, and social debt instruments.
In order to allow the bank to finance projects that support the transition to a low-carbon economy that is resilient to climate change.
As well as projects that have a positive social impact.
Emirates NBD Sustainable Finance Framework components.
Furthermore, the framework includes the core elements of the principles and guidelines .
Which are set forth by the International Capital Market Association (ICMA) Besides the Loan Market Association, including:
-The use of proceeds.
-Project evaluation and selection process.
– Management of proceeds.
-Reporting.
In addition to specific recommendations for external review.
Importance of transparency in sustainable finance.
In fact, the framework emphasizes the importance of transparency in sustainable finance.
It also requires the bank to disclose information about sustainable finance projects.
As well as their potential environmental and social impacts.
The launch of the sustainable finance framework is a milestone for Emirates NBD.
Since it reflects the bank’s commitment to supporting the Sustainable Development Goals.
Also it supports the UAE’s efforts to mitigate climate change.
Emirates NBD Sustainable Finance Framework Covers several entities.
Moreover, the framework will cover entities within the Emirates NBD Group.
Such as Emirates NBD Bank, Emirates Islamic, DenizBank, and Emirates NBD Asset Management.
Also, it will work to accelerate the group’s efforts in relation to innovative sustainable finance offerings.
HSBC and ING Bank acted as sustainable structuring banks in the development of the framework.
Which is aligned with the group’s ambition to encourage more lending and investing in assets that have a positive environmental and social impact.
The framework will support Emirates NBD to achieve the ambitious sustainable development goals adopted by the UAE.
In fact, the goals are set out in the Paris Agreement on Climate Change and the United Nations Sustainable Development Goals.
While ensuring the implementation of necessary due diligence procedures.
In addition to the application of international best practices to mitigate environmental, social, and governance risks.
Read More:
Pakistan Supported by AED 5 million from Red Crescent and DIB.
UAE attracted 57% of (FDI) Foreign Direct Investment Projects.
Astronaut Sultan Al Neyadi Return to Earth Celebrated in the UAE.
