Dubai: Emirates NBD has launched its Sustainable Finance Framework as part of its long-term commitment to sustainability. The new framework includes the issuance of green and sustainable debt instruments to finance projects that allow the transition to a low-carbon and climate-resilient economy.
The framework provides for the distribution of social debt instruments that have a positive societal impact. Furthermore, the framework will include Emirates NBD Group entities such as Emirates NBD, Emirates Islamic, DenizBank, and Emirates NBD Asset Management and will accelerate the group’s efforts regarding innovative sustainable finance offerings.
In addition, the framework will assist Emirates NBD in reaching the UAE’s ambitious Sustainability Development Goals and targets set forth by the Paris Climate Agreement and the UN SDGs, while also ensuring the necessary due diligence and international best practices are in place to mitigate ESG risks.
Mr. Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, commented that “our Framework will ease access to ESG-labelled finance in alignment with COP28’s pledge to unleash finance for climate change. By issuing sustainable finance instruments, including bonds, sukuk, and other debt instruments, we will provide enhanced transparency around funded projects and assets that carry environmental and social benefits.”
The Framework comprehensively outlines the fundamental constituents of the Principles and Guidelines set forth by the International Capital Market Association (ICMA) and Loan Market Association: Green Bond Principles 2021, Social Bond Principles 2023, Sustainability Bond Guidelines 2021, Green Loan Principles 2023, and Social Loan Principles 2023.