NBB adds ESG into Lending and Investment Criteria

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

As a core component of its 3-year sustainability roadmap, the National Bank of Bahrain (NBB) said it is exploring ways to introduce ESG Risk Assessment into its business proposals as it moves forward with integrating ESG considerations within its core business.

And as a part of its initial steps, NBB has signed a partnership with Sustainability Excellence, a recognised leader in sustainability advisory services, to benefit from its expertise in this field.

Isa Hasan Maseeh, Group Chief Risk Officer at NBB Group, said: “The integration of ESG and sustainability practices into the bank’s risk framework embodies the essence of NBB’s business model, as it takes steps to implement ESG considerations within lending and investment proposals.” “Our investment in ESG strategy will help us scale our credit activities across the bank, ultimately furthering our ambition to be a sustainability leader bank in Bahrain and the region,” added Ali Ehsan, the Chief Credit Officer at NBB.

Darin Rovere, Founder and CEO of Sustainability Excellence, said: “This reduces lending risk, positions the bank for outperformance in the fastest-growing sectors, and improves positive impacts for society.”

Over the course of this year, NBB said it had undertaken multiple ESG initiatives as part of its sustainability roadmap, such as extending sustainability responsibilities across the Board Committee level, the establishment of a sustainability committee, led by NBB’s Group Chief of Human Resources and Sustainability, which functions as an enabler of various ESG related initiatives by working with the functions of the bank.