Sep 26

Emirates NBD Boosts Sustainable Investment in Real Estate, Debt

Editorial Staff
May 6, 2022
Image: Noah Bikoro via Unsplash

Emirates NBD boosted sustainable investments last year in real estate and debt, according to the leading Middle Eastern bank’s annual ESG report.

The bank structured and managed the United Arab Emirates’ first sustainable Real Estate Investment Trust (REIT), Masdar Green REIT, amounting to AED 949 million ($134 million). Emirates NBD Capital (EmCap) also conducted sustainable debt and loan capital market transactions, with 24 such transactions amounting to AED 69 billion in 2021, according to a statement from the bank.

“Despite the challenges posed by the ongoing COVID-19 pandemic, 2021 was an eventful and rewarding year for the Group as we navigated the changing global economic landscape,” said Emirates NBD CEO Shayne Nelson.

Investors and banks globally have increasingly incorporated environmental, social and governance metrics into their portfolios. This includes efforts to mitigate climate change, promote diversity and improve waste management.

This involves both directing capital to sustainable investments and working to reduce their own footprint.

Emirates NBD own efforts in this regard included cutting water consumption by 22% and reducing energy consumption by 12%, while achieving cost savings of AED 3.7 million in 2021, according to the statement.

The bank claimed a workforce of 9,825 full-time employees representing 78 nationalities. Forty-one percent of the group’s employees are women. The bank has a target of 25% of senior roles being filled by women by 2027, according to the statement.

The report also detailed improved conditions for full-time employees last year through flexible working hours and increased parental leave.

“As we look forward, we recognise both the challenges as well as the opportunities in integrating ESG into our business,” Nelson said. “With our long history of being an innovator and staying ahead of the curve as the industry changes, I am optimistic that we will be able to harness this strength to address the many challenges that we face as a global community.”

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