Today's Edition
DUBAI (ALETIHAD)
Emirates NBD has become a member of Financial Services Task Force set up by the Sustainable Markets Initiative’s (SMI).
The bank said in a statement that it has joined the global platform to work with international banking CEOs in mobilising capital at scale, accelerating investment in infrastructure, and generating solutions for climate and biodiversity challenges. Emirates NBD is the first GCC bank to join this initiative.
The Task Force, established to set common principles for climate and Nature goals, has already produced methodologies for the banking sector’s transition and cultivated expertise in nature-based financial solutions.
Shayne Nelson, Group Chief Executive Officer of Emirates NBD, said the decision reflects the bank’s commitment to sustainability. “Our proven track record of ESG milestones demonstrates our unwavering commitment to decarbonisation. We are at the forefront of driving significant change and our integration into the Financial Services Task Force will significantly advance regional and global collective efforts to tackle climate and biodiversity challenges,” he said.
Jennifer Jordan-Saifi, Chief Executive Officer of the Sustainable Markets Initiative, welcomed the partnership. “Our world is deeply interconnected, which is why it is so critical that the global private sector comes together to support each other on transition. SMI recognises the importance of aligning industry, financial and country efforts if we are to accelerate the transition at the scale and pace required,” she noted.
Vijay Bains, Chief Sustainability Officer and Group Head of ESG at Emirates NBD, added that the bank’s ESG strategy goes beyond addressing climate-related risks. “By committing to both national and international standards, we are creating meaningful sustainable impact with an approach that actively involves all our stakeholders. By integrating innovative finance, robust governance and impactful global initiatives within our services and offerings, Emirates NBD is paving the way for a more resilient, inclusive and low-carbon future,” he said.
Launched in 2020 by His Majesty King Charles III, then The Prince of Wales, the SMI brings together private sector organisations and governments to develop solutions that advance sustainability.
