Emirates NBD has announced a new partnership with the Sustainable Markets Initiative (SMI), the world’s ‘go-to’ private sector organisation for sustainable transition.
Through this collaboration, Emirates NBD will integrate into SMI’s Financial Services Task Force to become the first GCC member of the Financial Services Task Force. This body convenes CEOs from the international banking sector to strategically mobilise capital at scale.
The Task Force is focused on accelerating investment and scaling infrastructure, generating climate solutions and natural capital, and setting out common principles to achieve climate and Nature goals.
Since its establishment, the Task Force has produced foundational materials for the industry, encompassing a standardised and transparent methodology for the banking sector’s transition, alongside cultivating institutional expertise in nature-based financial solutions.
Shayne Nelson, Group Chief Executive Officer at Emirates NBD, said: “At Emirates NBD, sustainability is intrinsically woven into our culture, operations and strategy, underpinning our decision to join the Sustainable Markets Initiative. 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.”
Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative, said: “We are pleased to welcome Emirates NBD to the SMI’s Financial Services Task Force. 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. The Sustainable Markets Initiative recognises the importance of aligning industry, financial and country efforts if we are to accelerate the transition at the scale and pace required.”
Vijay Bains, Chief Sustainability Officer and Group Head of ESG at Emirates NBD, said: “We are excited to join the Financial Services Task Force. By committing to both national and international standards, we are creating meaningful sustainable impact with an approach that actively involves all our stakeholders, including employees, customers, investors, suppliers, authorities and the wider community. Our ESG strategy extends beyond climate-related risks, focusing on creating products and services that benefit both people and the planet. 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.”
Launched in 2020 by His Majesty King Charles III, then The Prince of Wales, SMI brings together private sector organisations from across industries, including the financial services sector, and governments to work together to collectively develop solutions and to innovate, accelerate and drive progress towards a sustainable future for Nature, People and Planet.
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