Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Responsibility
• Social Investment
• Governance & Business Continuity
• Responsible Finance

Environmental Achievements

• Reduced total Greenhouse Gas (GHG) emissions by 13% between 2019 and 2020
• Recycled 1,661 kg of paper in 2020
• Saved 28 million sheets of paper through collaborative efforts across Emirates NBD, Emirates Islamic, and Tanfeeth.
• Four branches awarded LEED Gold certification, the first bank in the MENA region to achieve this.

Social Achievements

• Increased charitable and social donations to AED 90 million in 2020
• Provided interest and principal deferral support to over 103,000 customers in the UAE in response to the COVID-19 pandemic.
• Launched several initiatives to support employees working from home during the pandemic.
• Implemented various programs to promote financial literacy and inclusion.

Governance Achievements

• Implemented a robust business continuity plan to address challenges posed by the COVID-19 pandemic.
• Maintained strong balance sheet and achieved a net profit of AED 7 billion despite the challenging operating environment.

Environmental Challenges

• COVID-19 pandemic and its impact on the business and stakeholders.
• Economic downturn and its effect on customers.

Mitigation Strategies

• Implemented relief measures to support customers affected by the pandemic (loan deferrals, fee waivers, etc.).
• Enabled business continuity through technology investments and remote work capabilities.
• Provided support and resources to employees during the pandemic.

Supply Chain Management

Responsible Procurement

• Emirates NBD Group Procurement Policy
• Supplier Code of Conduct
• 88% of operational budget spent on UAE-based suppliers.

Reporting Standards

Frameworks Used: GRI Standards: Core Option, GRI G4 Financial Services Sectors Disclosure, United Nations Global Compact (UNGC) Principles, United Nations Sustainable Development Goals (SDGs), UAE Vision 2021

Certifications: LEED Gold (four branches)

UN Sustainable Development Goals

• SDG 3
• SDG 5
• SDG 6
• SDG 8
• SDG 10
• SDG 13
• SDG 16

The report aligns with the UN Sustainable Development Goals.

Sustainable Products & Innovation

• Green Home Loans
• Green Auto Loan
• RTA Credit Card
• Liv. Goal Saving Account
• Paperless accounts

Awards & Recognition

• UAE’s Best Bank (Euromoney)
• Excellence in Leadership in the Middle East (Euromoney)
• Gold Award at Gulf Sustainability & CSR awards
• Featured in Dubai Chamber’s CSR Al Youm magazine
• Nominated as lead company by Dubai Chamber for Diversity and Inclusion taskforce
• Recognised by DEWA for inclusion efforts
• Recognised as one of the top 5 entities in Dubai with highest volunteering hours

Environmental Metrics

ESG Focus Areas

• Climate Change
• Responsible Procurement
• Responsible Waste Management
• Social & Economic Inclusion & Diversity
• Community & Social Impact
• Economic Value Generated & Distributed
• Technology & Innovation
• Exceptional Customer Experience
• Responsible Finance
• Volunteerism
• Emiratisation
• Talent Attraction, Engagement & Retention
• Human Rights & Labour Conditions
• Privacy & Security
• Governance, Compliance & Ethics
• Product & Service Responsibility

Environmental Achievements

• Reduced total Greenhouse Gas (GHG) emissions by 6% between 2020 and 2021
• Reduced energy consumption by 12% and achieved cost savings of AED 3.7 million
• Five LEED Gold Certified branches (four in UAE, one in KSA)
• ISO 14001:2015 certified for environmental management system
• Launched Bio Debit Card (first of its kind in UAE), 42% of total plastic cards are Bio Cards
• Substantial growth in Green Auto Loan volumes (+72% vs 2020)

Social Achievements

• 78 nationalities make up our diverse workforce of 9,825 full-time employees; 41% are women
• 902 volunteer deployments with Exchanger programme
• Over AED 64 million in social contributions
• Expanded flexible work initiatives to include remote work from anywhere in the UAE
• Launched ‘See Her Empowered’ (SHE) programme, hiring 50 mothers in 2021
• 49 People with Disabilities (PwD) employed

Governance Achievements

• Board and Board Committee oversight
• Fraud Management, Anti-Bribery, Whistleblowing Policies
• Data and Cyber Security Policy
• Sustainable Procurement Policy
• Alignment with globally recognized ESG frameworks
• No incidents of non-compliance with labour, environmental, data privacy or any other sustainability related laws and regulations, nor any fines received, in 2021

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Sustainable Procurement Policy incorporating ESG practices

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards, Core Option, UN Global Compact Principles, UN Sustainable Development Goals (SDGs), Dubai Financial Market (DFM) ESG Reporting Guide

Certifications: ISO 14001:2015

Third-party Assurance: Internal assurance approach

UN Sustainable Development Goals

• SDG 3
• SDG 4
• SDG 5
• SDG 8
• SDG 10
• SDG 11
• SDG 12
• SDG 16
• SDG 17

The report details how various initiatives contribute to these goals.

Sustainable Products & Innovation

• Bio Cards, Green Auto Loan

Awards & Recognition

• Dubai Chamber CSR Label
• IMPACT2030 Innovation Award (Exchanger programme)
• 'Most Recommended Retail Bank in the UAE', and the ‘Most Recommended Bank in the Middle East’ award for Mobile Banking, Personal Loan and Remittances
• Best Customer Experience Business Model at the Digital CX Awards 2021

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 24.5% reduction in electricity consumption intensity compared to 2020
• 13.5% reduction in GHG intensity compared to 2020
• Reduced CO2 emissions by 12.6% in 2022 compared to 2020
• 75% of cards issued in 2022 were Bio-Cards, avoiding almost 16 tons of CO2e emissions

Social Achievements

• New female hires more than doubled between 2020 and 2022
• Number of women in middle management grew by 28% between 2020 and 2022
• Launched ‘See Her Empowered’ (SHE) programme
• Launched LetsLink Women’s Club
• Three out of every five Emirates NBD branches are now disability-friendly

Governance Achievements

• Appointment of a Group Head of ESG
• Awarded the Dubai Chamber CSR Label for the second consecutive year
• Updated Remuneration Policy in June 2022 to align with UAE regulatory requirements

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events (implied)
• Improving and aligning emission tracking mechanics to global standards

Mitigation Strategies

• Developed alternative sourcing strategies (implied)
• Aim to improve and align emission tracking mechanics to global standards

Supply Chain Management

Supplier Audits: 75 (2022)

Responsible Procurement

• Sustainable Procurement Policy
• Focus on local suppliers (97% of operational expenditure in 2022)

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards, UNGC Principles, UN SDGs, Dubai Financial Market (DFM) ESG Reporting Guide

Certifications: ISO 14001:2015

Third-party Assurance: Internal assurance approach

UN Sustainable Development Goals

• SDG 7
• SDG 8
• SDG 9
• SDG 10
• SDG 11
• SDG 12
• SDG 13

Various initiatives align with these SDGs, as detailed in the report.

Sustainable Products & Innovation

• Bio Cards
• Green auto loans
• Liv. digital bank (eco-friendly cards, paperless welcome kits)

Awards & Recognition

• Dubai Chamber CSR Label
• IMPACT2030 Innovation Award Winner

Environmental Metrics

ESG Focus Areas

• Sustainable Finance
• Climate Related Risks & Opportunities
• Diversity and Inclusion
• Data Privacy and Cyber Security
• Corporate Governance and Ethics

Environmental Achievements

• Reduced Scope 2 emissions by approximately 20% compared to 2022
• Reduced Scope 1 emissions by approximately 8%
• Issued USD 750 million green bond, the largest ever from a regional bank
• Restored 4,200 mangrove saplings in UAE
• Committed to plant 60,000 mangroves in Jebel Ali Wildlife Sanctuary
• Achieved eight LEED Certifications
• Earned Parksmart Gold Certification for parking facility

Social Achievements

• Signed the UAE Gender Balance Pledge to achieve 25% representation of women in senior leadership roles by 2027
• Piloted assisted technologies for People of Determination at 20 branches
• Employed 68 Emiratis in Senior Leadership positions
• Provided approximately 425,086 training hours to employees
• Supported more than 2,000 students by donating IT and school supplies
• Tallied 8,820 volunteer hours through the Exchanger Programme

Governance Achievements

• Refreshing the BAC, BRC and BNRESGC terms of reference
• Launched series of activities and new approaches
• Appointed a Group Data Protection Officer
• Ensuring compliance with international and local data privacy laws
• Aligning ESG Framework with UN SDGs and UAE’s Vision 2030

Climate Goals & Targets

Environmental Challenges

• Global economic slowdown and sustained high inflation
• Economic downturn in Egypt
• Unprecedented rises in benchmark rates in KSA
• Hyperinflation in Turkey
• Evolving climate risks

Mitigation Strategies

• Diversified revenue streams and asset portfolio
• Focus on profitable products and enhanced value propositions in Egypt
• Ambitious growth strategies in KSA (aiming for 24 branches by 2025)
• Prudent growth in assets, loans and deposits in Turkey
• Implementing an ESR Policy Framework

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct aligned to UNGC principles

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI 2021 Universal Standards, SASB standards

Certifications: ISO 14001:2015

Sustainable Products & Innovation

• ESG-Linked Supply Chain Finance Programme

Awards & Recognition

• Best Bank for ESG in the UAE at the Euromoney Excellence Awards 2023

Environmental Metrics

ESG Focus Areas

• Sustainable Finance
• Climate-related Risks and Opportunities
• Diversity and Inclusion
• Data Privacy and Cybersecurity
• Corporate Governance and Ethics

Environmental Achievements

• Achieved 35 LEED certifications across branches in UAE, KSA, and India.
• Launched the world’s first Sustainability-Linked Loan Financing Bond Framework aligned with ICMA and LMA guidelines.
• Issued a USD 500 million Sustainability-Linked Loan Financing Bond (SLLB).
• Plan to transition vehicle fleet to electric and hybrid models.
• Implementing circular economy principles across operations.

Social Achievements

• Launched the UAE’s first ESG-linked working capital loan in the private sector.
• Launched Emirates NBD Sustainable Fixed Deposit for retail customers.
• Goal of 25% women in senior leadership roles by 2027.
• Introduced mental health resources and flexible work arrangements.
• Offered tailored financial products for People of Determination and underserved groups.

Governance Achievements

• Established a Sustainable Finance Forum (SFF) to enhance governance and ensure alignment with the Environmental and Social Risk Policy Framework.
• Integrated climate-related risk assessments into enterprise risk management framework.
• Senior leadership performance tied to ESG goals.
• Embedded anti-corruption measures and ethical business practices.

Climate Goals & Targets

Environmental Challenges

• Evolving nature of Environmental and Social Risk (ESR) in terms of policy and global attention intensifying around sustainability.
• Geopolitical and macroeconomic risks, including market volatility and potential threats to global supply chains.
• AI-enhanced malicious attacks and AI-enhanced malware adapting quickly to security systems.

Mitigation Strategies

• Integration of ESR and climate risk into the risk management framework; development of an ESR Framework and climate risk policy; growing green investments portfolio; baselining emissions to reduce carbon footprint; expanding emission tracking to include financed emissions.
• Scenario planning, stress testing, scenario analysis to model potential economic shocks; hedging and diversification of portfolios; managing currency exposures.
• Three lines of defence model for technology-related risks; advanced measures including real-time risk monitoring, automated compliance tracking, and stringent controls to mitigate risks from cloud environments and AI-driven tools; employee education on cybersecurity threats.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, SASB, TCFD, UN SDGs, UN Principles for Responsible Banking, Partnership for Biodiversity Accounting Financials (PBAF)

Certifications: LEED (Platinum and Gold)

Sustainable Products & Innovation

• Emirates NBD Sustainable Fixed Deposit
• ESG-linked working capital loan

Awards & Recognition

• Sustainalytics ESG Risk Rating (5th globally among diversified banks)
• Dubai Chamber of Commerce ESG Label (97.92%)
• Majra (National CSR Fund) Gold award
• Recognition by Ministry of Climate Change & Environment for mangrove plantation efforts
• Multiple awards for EmCap in sustainable finance