Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance
• Corporate Social Responsibility (CSR)

Governance Achievements

• Established a robust corporate governance framework aligned with UAE Central Bank, Securities & Commodities regulations, Basel II, and international best practices.
• Maintained a high level of governance and ethical business practices since inception.
• Focused on transparency and disclosure.
• Became a founding member of Hawkamah – The Institute for Corporate Governance and the Pearl Initiative.
• Appointed a Corporate Governance and CSR Officer.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Basel II Principles for Enhancing Corporate Governance, UAE Central Bank guidelines, Securities & Commodities regulations, Federal and local legislation, Regional and international best practices

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• CSR

Social Achievements

• Organized a briefing session on anti-money laundering and international economic sanctions for over 50 staff.
• Held a forum on the Changing US Role In Middle Eastern Security and Protecting the Global Economy.

Governance Achievements

• Developed a comprehensive Corporate Governance framework for the Group, aligning Board and Committee Charters with legislative practices.
• Standardized internal policies (Code of Conduct, Code of Ethics, Disclosure Policy, Conflict of Interest Policy) at the Group level.
• Most recent Board Assessment performed in 2014.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Employee welfare
• Customer satisfaction
• Environmental protection
• Community development
• Corporate governance
• Emiratisation

Environmental Achievements

• Initiatives for paper recycling and promotion of e-statements to reduce paper usage.
• Agreement with Bee'ah for waste management and recycling.

Social Achievements

• AED 10.5 million in charitable contributions in 2015, supporting various organizations including those focused on education, health, and children with special needs.
• Emiratisation program ('Quintetta') to provide professional opportunities for UAE nationals.
• Scholarships provided to UAE students.
• Support for health initiatives like the Pink Caravan and Friends of Cancer Patients.
• Sponsorship of Umrah campaigns for children with special needs.

Governance Achievements

• Implementation and adoption of a Code of Conduct and Code of Ethics by all employees.
• Establishment of a Conflict of Interest Policy and Disclosure Policy.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Responsible business practices
• Inclusive and sustainable banking
• Creating economic value
• Employee hiring and diversity
• Stakeholder engagement
• Sustainable supply chain
• Social initiatives and donations

Environmental Achievements

• Partnership with Bee'ah for waste management and recycling of paper, plastic, electronic waste, and printing cartridges.
• Implementation of eco-friendly policies to reduce carbon footprint and environmental impact.
• Digital transformation allowing clients to opt for e-statements and e-receipts.

Social Achievements

• AED 7.5M attributed to charity and AED 13.9M to social contributions.
• Launched the #SaveTheSmallGuys campaign to support small enterprises.
• 1% employee turnover rate.
• Support for Al Noor Rehabilitation and Welfare Association for People of Determination.
• Contribution to The Big Heart Foundation’s “Salam Beirut” initiative.
• Long-term partnership with Sharjah City for Humanitarian Services.

Governance Achievements

• Adherence to strict anti-bribery, anti-corruption, anti-money laundering, and regulatory compliance policies.
• Regular training for employees on compliance policies.
• Appointment of a Group Head of Compliance and Corporate Governance.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on the economy and operations.
• Hiring freeze due to COVID-19.

Mitigation Strategies

• Ensured employee and family safety.
• Safeguarded business continuity.
• Implemented social distancing procedures.
• Maintained relationships with suppliers despite economic challenges.

Supply Chain Management

Responsible Procurement

• 84.85% of spending on local suppliers.
• KYC and ethical code of conduct for suppliers.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards - Core Option

Environmental Metrics

ESG Focus Areas

• Governance & Culture
• Data Privacy & Security
• Responsible Finance & Banking
• Energy Usage
• Employee Wellbeing

Environmental Achievements

• Paperless meetings and virtual annual general meeting significantly reduced paper usage.
• Recycled 14,450 kgs of paper with Bee'ah.
• Implemented "No Receipt" option on ATMs to reduce paper receipts.

Social Achievements

• Increased spending on local suppliers from 84.85% in 2020 to 90.43% in 2021.
• Provided AED 30 million over 10 years for the construction of new buildings for Sharjah City for Humanitarian Services.
• Supported various social initiatives including scholarships for artists and events for people with disabilities.

Governance Achievements

• Established six Board Committees to ensure compliance with AML and CFT regulations.
• Implemented a robust Anti-Bribery and Corruption policy with annual training for employees.
• Updated policies regarding fair treatment of customers in accordance with UAE Central Bank’s Consumer Protection Regulations.

Climate Goals & Targets

Environmental Challenges

• No female members on the Board of Directors due to lack of female applicants.

Mitigation Strategies

• Measures are being taken to encourage existing female shareholders to apply for Board membership.

Supply Chain Management

Responsible Procurement

• Emphasis on local sourcing (90.43% of procurement expenses from UAE-based suppliers).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Environmental Metrics

ESG Focus Areas

• Governance
• Sustainability
• Emiratization
• Digital Transformation
• Data Privacy and Cybersecurity

Social Achievements

• Exceeded Emiratization targets set by the CBUAE and MOHRE in 2022.

Governance Achievements

• Implemented a robust corporate governance framework aligned with CBUAE, SCA, and international best practices.
• Established seven Board Committees and ten Management Committees to promote transparency and accountability.
• Received a “Very Good” rating from Hawkamah in its independent Board Evaluation Report.

Climate Goals & Targets

Environmental Challenges

• Lack of female candidates for Board membership.

Mitigation Strategies

• Taking steps to encourage existing female shareholders to apply for Board membership.
• Highlighting the open culture and receptiveness of the Board to promote diversity and gender equality.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: CBUAE Corporate Governance Regulations and Standards of 2019, Basel III Corporate Governance updates

Sustainable Products & Innovation

• Core Banking Application - Host to Host Remittance Request Service
• Payment Cards - E-Commerce & 3D Secure Enablement for Debit MasterCards
• eBOS Internet Banking - Bulk Transfers

Environmental Metrics

ESG Focus Areas

• Diversity & Inclusion
• Community Development
• Responsible Banking
• Data Privacy
• Governance & Culture
• Product Innovation
• GHG emissions
• Responsible Waste Management

Environmental Achievements

• Recycled 23,363 kg of paper, saving the equivalent of 635.8 kg CO2-eq emissions.
• Started tracking fuel use.

Social Achievements

• Achieved a 50-50 gender split in the workforce.
• Increased CSR contributions by more than 150% YoY.
• More than 90% of supplier spending was directed towards UAE-based suppliers.

Governance Achievements

• Appointed the first female Board member.
• The Board had a fully-fledged ESG-dedicated training workshop.
• Developed a new ESG strategy (under review).

Climate Goals & Targets

Environmental Challenges

• Data unavailability for some electricity and water consumption data.
• Scope 1 emissions calculations only included fuel-related emissions (excluding diesel generators and refrigerants).

Mitigation Strategies

• Implementing measures to track current fleet consumption and optimize routes to reduce fuel consumption.
• Further control over fuel consumption by implementing measures such as tracking current fleet consumption, optimizing routes and, in the future, reduction of vehicle trips in order to capitalize on opportunities for overall reduction in fuel consumption.

Supply Chain Management

Responsible Procurement

• Preference for local suppliers (90.9% of supplier spending)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, ADX requirements, UN Sustainable Development Goals (SDGs)

Third-party Assurance: Internal assurance

UN Sustainable Development Goals

• 4 (Quality Education)
• 5 (Gender Equality)
• 13 (Climate Action)