National Bank of Fujairah awarded ‘Dubai Chamber CSR Label’ for its CSR initiatives
Bank singled out as one of the high-performing organisations in the implementation of CSR and sustainability
National Bank of Fujairah (NBF) PJSC announced today that it has been awarded the Dubai Chamber CSR Label for its strong commitment to upholding the best practices in the field of corporate social responsibility and its support for developing a sustainable environment. This award recognises NBF’s progress in developing an outstanding strategy and significant practical measures to embed CSR as an integral part of the bank’s operations. The win marks an important milestone for NBF as the UAE celebrates the Year of Zayed and the late Sheikh Zayed’s legacy in promoting and preserving the environment.
The Dubai Chamber CSR Label has been designed to provide a diagnostic framework that assists companies in Dubai with refining and improving their CSR strategies, policies and practices across four impact areas namely, workplace, marketplace, community and environment. It provides a clear voluntary standard for CSR implementation within the Emirate's business community and the wider UAE.
Commenting on this award, NBF’s CEO Vince Cook said: “NBF strives to be the best financial partner for businesses across the UAE in the widest possible sense, this includes supporting the environment around us and developing sustainable practices wherever we operate. From our interactions with clients, it is encouraging to see the importance they also place on working with organisations that are socially aware. Therefore, we are very proud to gain recognition from this prestigious platform, which gives everyone involved a very clear benchmark against which progress can be measured. Over the last couple of years, we have enhanced our involvement in community-wide environmental projects, including partnerships with our clients such as Enable., and we see great opportunities to do more.”
The Dubai Chamber CSR Label recognised NBF’s efforts in mitigating its impact on the environment by implementing energy efficiency, water efficiency and waste management measures. Some of the initiatives ranged from monthly energy consumption practices to solar power initiatives that save up to 80000 KW/year and reduce carbon emission to 6000kg/per year. Waste management was another practice that was implemented where the bank was able to segregate more than 4 tons of paper, 40kg of plastics, 13 kg of cans and almost 80kg of glass.
NBF is a leading supporter of environment-friendly projects. In late February, it concluded the inaugural event in the year-long initiative entitled “Plant with Us” to mark the Year of Zayed and raise awareness for environmental conservation and sustainability. Last year, the bank became the sponsor of the “ENABLE Mobile Store”, a truck staffed by Emirati people of determination which tours the UAE to sell plants in support of social inclusion and environmental awareness. In 2016, NBF became signatory to the Dubai Declaration on Sustainable Financing to tackle local sustainability challenges, and it continues to support the conservation efforts for the Wadi Wurayah National Park in Fujairah.
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’a compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+/A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 18 across the UAE.
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