Emirates NBD supports voluntary carbon credit trading markets

Emirates NBD has announced a partnership with global carbon rating agency B Zero Carbon to conduct due diligence on projects for clients interested in voluntarily offsetting their remaining carbon emissions, becoming the first banking group in the UAE to use an independent rating agency to support voluntary carbon credit trading markets.

The bank stated that this partnership confirms its commitment to providing high-quality solutions to clients across various fields, including established and emerging fields such as voluntary carbon markets, noting that it will be able to access hundreds of comprehensive, independent, science-based risk assessments of carbon projects around the world, which supports clients’ confidence in the quality of investments.

“We are pleased to partner with B Zero Carbon to further our pivotal role in decarbonising the economy. At Emirates NBD, we strive to lead change in this area, whether by encouraging our customers to adopt green financial practices or by continually improving our capabilities for their benefit,” said Vijay Bains, Group Chief Sustainability Officer and Head of Environmental, Social and Governance.

“The region is seeing a growing appetite to invest in climate-effective solutions that support the UAE’s strategic initiative to achieve climate neutrality by 2050,” said Tommy Ricketts, CEO and Co-Founder of B Zero Carbon. “With buyers looking to invest in high-quality carbon credits needing the right tools to build trust and transparency, B Zero Carbon is proud to offer these tools to support UAE-based companies in their drive to drive climate action.”

Emirates NBD is a regional leader in carbon offset trading, helping meet the growing demand from companies to manage their carbon offsets and support the UAE’s strategic initiative to achieve climate neutrality by 2050.

• The bank encourages customers to adopt environmentally friendly financial practices.