Emirates NBD, a leading financial institution in the Middle East, North Africa, and Türkiye, has made a significant commitment to protecting biodiversity.
The bank has joined the Partnership for Biodiversity Accounting Financials (PBAF), a global initiative aimed at standardising how financial institutions assess and disclose their impact on the natural world.
The move comes at a crucial time, just before the 2024 UN Biodiversity Conference COP16 in Cali, Colombia. The decision reflects Emirates NBD’s recognition of the vital role biodiversity plays in economies and livelihoods worldwide.
By joining PBAF, Emirates NBD is taking a proactive step towards supporting global biodiversity goals. The bank aims to integrate biodiversity considerations into its financial decision-making processes, demonstrating its commitment to sustainable practices.
Vijay Bains, Chief Sustainability Officer at Emirates NBD, expressed the bank’s pride in joining PBAF as its first regional partner. He emphasized the bank’s dedication to integrating biodiversity into its financial decision-making and its ongoing efforts to enhance its commitment to sustainable finance.
Emirates NBD has a strong track record in sustainability initiatives. Earlier this year, the bank assumed the role of Co-Chair of the MENA Chapter of the Partnership for Carbon Accounting Financials (PCAF). Similarly, the bank partnered with BeZero Carbon to conduct enhanced due diligence on carbon projects, ensuring that its investments align with sustainable practices.
The bank celebrated its 60th anniversary by planting 60 mangrove saplings as part of its 60,000-sapling initiative at the Emirates NBD Mangrove Forest in 2023. The initiative demonstrates the bank’s commitment to environmental conservation and its belief in the power of nature to restore balance.
