Sustainability - Commitment to ESG

Sustainability

Integrity and trust

Within our business operations and expertise, lies a reflection of our unwavering dedication to integrity, trust and responsible banking practices.

Embracing diversity, fostering inclusivity and empowering our teams, we ensure that every voice is heard, every step is mindful, and every endeavor undertaken is with the utmost consideration for our customers, communities and environment. We challenge ourselves to be the pioneers of change, raising the bar of ethical conduct and redefining the boundaries of responsible banking.

Message from Group CEO

Our commitment to embed ESG in our core culture, operations and strategy can be seen, not only in the achievements outlined in this report, but also with the appointment of a Group Head of ESG, Vijaypal Singh Bains. As we advance on our sustainability journey, this dedicated function will align the organization's adherence to ESG principles and practices and develop our ESG framework.

Shayne Nelson
Emirates NBD Group CEO

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Message from Group Head of ESG

Among Emirates NBD’s key sustainability milestones, our independent ESG Department marks an important step towards further advancing our ESG strategy and framework. Through our reports and disclosures, we strive to demonstrate how we have incorporated ESG into the core of our culture and operations, and also provide an overview of Emirates NBD’s performance against global ESG criteria in line with GRI Standards. Emirates NBD’s ESGs Report have been generated in accordance with United Nations Sustainable Development Goals (SDGs) metrics and the Dubai Financial Market (DFM) ESG Reporting Guidelines.

Vijaypal Singh Bains
Chief Sustainability Officer, Group Head of ESG

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Board Nomination, Remuneration and ESG committee (BNRESG)

The primary responsibility and function of the BNRESGC is to assist the board to fulfil its duties by overseeing:

Matters relating to the board, including the composition, nomination, assessment, succession plans and remuneration policies for the directors
Reporting on corporate governance and remuneration matters, and the development of the corporate governance framework, systems and controls
Oversight of Environment, Social and Corporate Governance (ESG) and corporate sustainability strategy
Corporate culture and values, including its governance culture
Selection, assessment, succession and remuneration policies for senior management
HR strategy, including Emiratisation

The committee is comprised of no less than three non-executive directors or independent directors and should respond directly to the board of directors. Members of the BNRESG are appointed directly by the Board of Directors for an initial period of three years.

More information about this committee and additional governance insights can be found in the 2022 Emirates NBD Corporate Governance Report.

Sustainable Governance

Our governance approach ensures integrity, transparency, and accountability at every stage of our operations. It also ensures that ESG principles and practices are embedded into the culture, operations, and activities of the Group.

In addition, ESG risk management in financing activities is the responsibility of each head of business and relationship manager, with ultimate oversight by the Sustainable Finance Forum to ensure alignment with sustainability goals and regulatory requirements.

We engage the board regularly on climate related risks, proactively, to ensure that the business strategy accounts for these type of issues and ensures resilient operations.

The Board Risk Committee (“BRC”) maintains the effective governance and oversight of the management of conduct and compliance risks and compliance with regulatory requirements related to risk management. Specifically, the BRC provided effective oversight of the Internal Capital Adequacy Assessment Process (“ICAAP”) and stress testing process to ensure that the Group’s level of capital is sufficient to meet regulatory thresholds and support its strategy.

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We are dedicated to reducing our environmental impact with equitable, efficient, and progressive practices. In alignment with the UAE's Net Zero 2050 initiative and increased 2030 climate target, we are actively contributing to the nation's goals of reducing greenhouse gas emissions. Our commitment extends from large-scale initiatives meeting international standard, to local actions supporting ecosystem needs. Our Environmental Management System is certified with the ISO 14001:2015 and we are making efforts to improve our environmental performance through initiatives such as energy and water conservation, green energy stations, plastic consumption reduction and paper waste management.

We are passionately committed to sustainability, community development and our people. We recognize that employee development is key to our growth as is gender equality. We aim for 25% women in leadership positions in line with the UAE Gender Pledge 2023 and collaborate closely with educational institutions to cultivate local talent, upskill graduates and map career progression plans to further our robust Emiratization goals. Our continuous learning programme creates an environment that enhances our employees' skills and ESG awareness, which we see as key to upholding global sustainability standards and regulations.

Good governance encourages accountability, transparency and efficiency at all organizational levels. Therefore, allowing for effective management of human, environmental, economic and financial resources for equitable and long-term development. Our corporate governance practices, including policies and processes are explicitly disclosed within our Corporate Governance reports. ESG is embedded into the culture, operations and strategy of Emirates NBD and supports all strategic decision-making. Strategic ESG matters, including corporate sustainability strategy, are the responsibility of the Emirates NBD Board of Directors and the Board Nomination, Remuneration and ESG Committee.

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