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Leading banking group UAE NBD to construct and manage the UAE’s first sustainable real estate investment trust (REIT) Masdar Green REIT totalling AED 949 million (US$ 258 million)
In its sixth annual ESG report, formerly known as the Sustainability Report, NBD details the organization’s environmental, social and governance (ESG) performance and achievements for 2021.
The report was prepared according to GRI standards and in line with the UAE Vision 2021 and the United Nations Sustainable Development Goals (SDGs).
Key highlights from Emirates NBD Group’s 2021 ESG Report:
Responsible Finance and Investment
*Sustainable debt and loan capital market deals, 24 such deals totalling AED69 billion, led by UAE NBD Capital (EmCap) in 2021;
*Introduction of the Wealth Management Sustainable Investment Framework;
environmental
* 22% reduction in water consumption;
* 12% reduction in energy consumption in 2021, resulting in cost savings of AED 3.7 million;
* 4 LEED GOLD certified UAE branches;
*The first LEED GOLD certified bank branch in Saudi Arabia (Al Quds branch in Riyadh);
*Our environmental management system is ISO 14001:2015 certified;
*6 LEED certified facility management engineer.
Social
* A diverse workforce of 9,825 full-time employees from 78 countries;
*41% of Emirates NBD Group employees are women, with a target of 25% of senior roles by 2027;
* Increased flexibility for full-time employees through flexible working hours and increased parental leave;
* 902 volunteers deployed with an award-winning corporate volunteering program;
*Social contribution of over AED 64 million
Governance
The board of directors is responsible for overseeing management and safeguarding the interests of stakeholders. The Board of Directors has assigned special responsibilities to several committees.
In addition, fraud management, anti-bribery and anti-corruption policies, data security, whistleblower, business continuity and crisis management policies are in place to ensure good governance and accountability. The Code of Conduct establishes expectations for the professional conduct of all employees.
Commenting on the announcement, Emirates NBD Group CEO Shayne Nelson said: “Emirates NBD is proud to present its sixth annual ESG report. Despite the challenges posed by the ongoing Covid-19 pandemic, we are 2021 will be an eventful and rewarding year for the Group amid a changing global economic landscape.”
He added: “Looking ahead, we recognise the challenges and opportunities of integrating ESG into our business. With our long history as innovators and staying ahead as the industry changes, I am optimistic that we will Being able to use this strength to address the many challenges we face as a global community. As our ESG agenda continues to progress, we remain confident that we are on track to achieve our aspirations for sustainable development.”- arab trade news agency
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