The National Bank of Bahrain B.S.C. (NBB) has been recognized for their commitment to sustainability by being ranked first in the Kingdom of Bahrain and second in the Arab World as per Refinitiv Environmental, Social and Governance (ESG) Scores for Banking Services Companies. The bank received a total score of 65, surpassing 44 regional banks, making it part of the top 16% Banking Services Companies.
Refinitiv is a provider of transparent and accurate data surrounding ESG practices within the financial industry. Its scoring system objectively measures a company’s ESG performance, commitment and effectiveness, based on company-reported data. More than 9,500 companies globally are scored and ranked as per Refinitiv’s ESG pillars, which include emissions, environmental product innovation, product responsibility and corporate social responsibility (CSR strategy).
The Refinitiv ESG ranking solidifies the bank’s sustainability efforts and brings it closer to its goal of becoming a greener organisation that practices responsible banking. Additionally, it is aligned with NBB’s unwavering commitment to support the Kingdom’s Economic Vision 2030 of achieving zero carbon emissions by 2060.
Commenting on the occasion Mr. Farouk Yousif Khalil Almoayyed, Chairman of NBB, said: “We are delighted to have reached this leadership position, which is a testament to the sustainability initiatives we continuously emphasize. Our positioning reinforces that we are taking the right steps towards positively contributing to the community and environment. This will only strengthen the bank’s standing as it continues to thoroughly incorporate sustainability considerations into all of its organizational aspects.”
Jean-Christophe Durand, CEO of NBB, said: “The leadership positioning marks the rigorous and systematic approach we have planned and implemented towards the integration of ESG factors into the bank’s operations. NBB has been committed to embedding sustainability in all its functions and core business, as it continues to launch environmentally driven products and initiatives.
We have applied ESG factors into our loan and investment plans, launched a range of sustainable products, including the Solar financing, Hybrid/Electric Car Loans and the Education Loans. These are some of the many ESG initiatives the Bank has undertaken, positively impacting the environment and community in which it operates. In 2021, the bank was the first in the Kingdom to obtain the international ISO 14001:2015 accreditation for Environmental Management Systems, reinforcing its position as a financial leader in sustainability practices.”
Dana Buheji, Group Chief Human Resources and Sustainability Officer at NBB, said: “Embedding ESG practices throughout our core business has been a focal point for the bank. NBB’s Sustainability journey positions us strategically, enabling us to address short and mid-term risks, as well as identify long-term risks and gain a level of response that is flexible and serves all of our stakeholders.
NBB has made strides towards becoming environmentally responsible, but this is only the beginning. Refinitiv recognizes the Bank’s endeavors on a regional level and motivates us on our journey towards becoming greener, which, in turn, will enable us to better serve our community.”
NBB has won numerous awards pertaining to its sustainability practices, including “The Middle East’s Best Bank for Corporate Responsibility” by the Euromoney Awards for Excellence 2021, Global Finance’s ‘Outstanding Leadership in Sustainability Transparency’ Award and International Business Magazine’s ‘Sustainable Bank of the Year Award’. The bank continues to revolutionize the local banking sector through its leadership by example and its international best practices in sustainability.