NBAD Publishes its 2015 Corporate Sustainability Report Titled ‘Being a Good Corporate Citizen’
NBAD has released its 2015 Corporate Sustainability Report. The report titled ‘Being a Good Corporate Citizen’ covers NBAD’s progress during the 2015 calendar year.
The report highlights in particular, the successful implementation of the Bank’s corporate citizenship strategy, which supports its long term ambition to be a leading bank on issues that have global significance and local relevance.
NBAD has set two significant ambitions on the future of energy and on SME advocacy, while continuing to build strong performance in responsible banking practices across its core operations. The Bank’s strategy is aligned with the UAE’s strategic plans to generate growth and diversify the economy, with a focus on decarbonising the economy and diversifying energy supplies.
2015 has been a strong year for NBAD and the Bank has made significant progress in the last year through the following sustainability initiatives:
- Becoming the first bank in the UAE to sign the Equator Principles.
- Establishing a team dedicated to promoting sustainable business, the first of its kind amongst regional banks.
- Committing to lend, invest and facilitate a total of US$ 10 billion over the next 10 years towards the global growth of sustainable business.
- Creating the NBAD SME Academy to deliver skills-building workshops for SMEs.
- Publishing the ‘Financing the Future of Energy’ Report, which highlights developments in the renewable energy sector and explores opportunities for banking and financial sectors to meet global energy investment requirements.
- Being the only bank in the region to submit data on greenhouse gas (GHG) emissions to CDP (formerly the Carbon Disclosure Project)
- Ranking third in the Standard & Poor’s Hawkamah ESG Pan Arab Index and consistently being one of the top 10 organisations listed on the index since its launch.
- Receiving the CSR Label for the fourth year from the Dubai Chamber of Commerce & Industry Centre for Responsible Business, based on performance in sustainable business practices.
About NBAD
NBAD has one of the largest networks in the UAE, with 106 branches and cash offices and 531 ATMs across the country. NBAD’s growing global presence consists of 45 branches and offices in 17 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks.
Since 2009, NBAD has been ranked consecutively as one of the World’s 50 Safest Banks by the Global Finance magazine, which also named NBAD the Safest Bank in the Emerging Markets and the Middle East.
NBAD is rated senior long term/short term AA-/A-1+ by Standard & Poor’s (S&P), Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia), giving it one of the strongest combined rating of any global financial institution.
A comprehensive financial institution, NBAD offers a range of banking services including retail, investment and Islamic banking. Please visit www.nbad.com for further information.
Media Contact:
NBAD Corporate Sustainability
