NBB says on track with environmental conservation plan

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The National Bank of Bahrain (NBB) said it is honouring its commitment to integrate sustainability across its business operations as part of its 3-year sustainability roadmap. The strategy, NBB said, focuses on embedding Environmental, Social and Corporate Governance (ESG) framework across the Bank’s operations. Through its guiding principles, the roadmap has enabled the bank to accomplish several key milestones, namely in environmental conservation, reducing harmful waste consumption and successfully lowering its CO2 emissions during 2021. NBB said it achieved a 15.8% reduction in Diesel consumption and an 8% decrease in electricity consumption within its headquarters.

The bank also registered a 7.9% reduction in CO2 emissions from electricity and diesel consumption at the NBB headquarters, compared to 2020. As part of its efforts towards becoming a paperless organisation, NBB has recycled 24% of paper consumed throughout the year. NBB has launched several initiatives during 2021 to instil a culture of environmental conservation across its community. The Bank introduced a solar panel financing solution for customers who wish to install solar energy panels in their homes, and introduced auto loan financing with exclusive rates for customers seeking to purchase hybrid or electric vehicles.

The Bank additionally extended its support to the first eco-friendly hospital in the Kingdom, the new King Hamad American Mission Hospital, financing construction and the installation of solar panels at the hospital. Honouring its commitment to ESG integration, NBB said it was the first bank in the Kingdom to successfully attain the ISO 14001:2015 Environmental Management Systems (EMS) certification which aims to help organisations reduce their environmental impact.

Furthermore, the Bank has extended its support to the latest food sustainability project by the Ministry of Works, Municipalities Affairs & Urban Planning as part of its sustainability journey towards being a responsible bank. NBB will finance the project’s process of designing, building, operating, and handover of a hydroponic farm, which aims to reduce water consumption for plants, thereby minimising the country’s carbon footprint.

Commenting on the Bank’s ongoing sustainability trajectory, Jean-Christophe Durand, Chief Executive Officer of NBB, said: “NBB is committed to being a national enabler, supporting the Kingdom’s directives, and play our part in fulfilling HRH Prince Salman bin Hamad Al Khalifa’s declaration at COP26 to reduce all emissions in the Kingdom by 30% by the year 2035.” Dana Buheji, Group Chief Human Resources & Sustainability Officer at NBB, added: “NBB continues to realise its sustainability roadmap through various organisational initiatives, which aim to guide the community towards adopting a principle based on sustainable living.

Over the past year, we have undertaken partnerships to promote a shift within the community. Our partnership with CleanUp Bahrain enabled us to hold our largest Group-led volunteering event as well as finance the Green Up project; a national initiative to plant 810 trees along the 16th December Highway. The Bank has significantly improved its environmental performance over the past year.” NBB is on a steadfast path towards embedding ESG and sustainability practices within its organisation. Aligning its initiatives with the UNSDG’s, NBB is currently on a resilient sustainability journey, allowing the Bank to lead on the path towards achieving a net-zero economy