National Bank of Fujairah signs Dubai Declaration on Sustainable Financing
Bank to contribute to UAE’s Green Agenda by leveraging its expertise and supporting entrepreneurs
National Bank of Fujairah announced today that it has recently signed the Dubai Declaration on Sustainable Financing at the United Nations Environment Programme (UNEP) Finance Initiative’s 14th Global Roundtable, a leading platform attracting over 400 experts globally. The platform focuses on encouraging regulators and banking institutions to find solutions for environmental and social issues with a wider societal impact while stimulating finance into sectors and companies committed to addressing underlying risks.
Held under the patronage of His Highness Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, the two-day event was organised for the first time in the region and hosted by the UAE, represented by the Ministry of Climate Change and Environment, in collaboration with the UAE Central Bank.
Commenting on its participation at the event, NBF’s CEO Vince Cook said: “While it is imperative for us as a community to address global sustainability challenges, we recognise that real change happens as a result of adopting innovative models focused on resolving local issues in key areas. At NBF, we are committed to steering our resources across various initiatives to expand and accelerate sustainable practices towards 2021 in line with the Dubai Declaration. Going forward, we will be taking into account climate and environmental, social, and governance considerations (ESG) in the bank’s risk management processes while continuing to enhance our sustainability reporting to ensure utmost transparency to our external stakeholders.”
“We will continue to promote the lending to, and investments in, sustainable projects, entrepreneurs and industries. At NBF, we are also very keen to see the emergence of a successful SME sector that can contribute to the economy effectively. We strongly believe that the more resources the industry allocates to investing in sustainable financing, the greater the tangible benefits we will be able to see in the long-run, and the more we will see a reduction in negative environment and social impacts”, continued Cook.
It is worth mentioning that NBF is a leading supporter of environment-friendly projects. Recently, it has inked a platinum sponsorship agreement focused on supporting 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 16 across the UAE.