The National Bank of Bahrain (NBB) has successfully ranked first in its ESG performance across all sectors in the Arab World as per Refinitiv ESG Scoring. During this quarter, the bank’s score rose from 72 to 76 points as a result of NBB’s multiple initiatives that enhanced the bank’s responsible environmental practices, such as providing environmentally friendly products to the bank’s clients.

Refinitiv’s ESG scoring is dynamic and based on regular periodic assessments and updates. Each organisation’s ESG score is evaluated and ranked against others on the basis of 10 main sustainability themes based on publicly available data.

The leadership position cements NBB’s standing within the top 10% of global banking services companies in the region by Refinitiv’s ESG rating. This significant milestone further underscores the bank’s continuous endeavours to undertake sustainability initiatives and strategies in its core operations.

In line with NBB’s ongoing sustainability roadmap, the bank continues to adopt environmental, social and governance considerations as an integral element of its strategy. The leading score is a result of NBB’s ongoing efforts to embody the Bank’s main pillars and values, which have helped maintain a conscious responsible banking environment.

With the establishment of its sustainability strategy, the bank has since taken monumental strides to introduce numerous initiatives that address multi-stakeholder perspective topics to create long-term value and a positive impact on the ESG sphere. As such, NBB continues to align its endeavours in support of local and global initiatives that aim to achieve the Kingdom’s Economic Vision 2030 and support its commitment to reaching net zero by 2060 and the United Nations’ Sustainable Development Goals.

Commenting on the recognition, Jean-Christophe Durand, CEO of NBB, said: “Sustainability continues to play an essential role within our organisation. NBB recognises the significance of adopting sustainable methods that will lead to a positive impact both within our organisation and our community. Our line-up of ESG-driven products and services have enabled us to assist our stakeholders in reducing their carbon footprint, and simultaneously add value to our community.”

Dana Buheji, Group Chief Human Resources and Sustainability Officer at NBB, said: “We are proud to have achieved the leading ESG score across all sectors in the Arab World. NBB’s tireless efforts have been recognised over the course of our sustainability journey, reflecting our collective efforts to engage sustainability across all levels from board members to employees. The bank maintains its reputation as a leading financial institution, honoured through our numerous accolades over the years, as we remain committed to contributing to our community and the environment as a whole.”

NBB’s sustainability efforts were recognised at this year’s Euromoney Middle East Awards for Excellence 2022 in which the bank was awarded in the following categories: “Middle East’s Best Bank for Corporate Responsibility”, “Best Bank for ESG in Bahrain”, “Best Bank for SME Banking in Bahrain” and “Best Bank for CSR in Bahrain”. The bank also received the Best Bank for Sustainability Finance in Bahrain award and Outstanding Leadership in Sustainability Transparency on a regional level from Global Finance’s Sustainable Finance Awards 2022.

The bank has made significant strides over the past few years, by initiating the largest network-wide solar installation project in the Kingdom’s Banking Sector on a Group-level. The bank also joined the United Nations’ Global Compact in addition to collaborating with Honeywell to enhance NBB’s sustainability efforts.

NBB continues to contribute to its environmental conservation plan, showcasing viable and impactful results. The bank’s products and services also included the launch of an education financing solution, solar panel financing, and auto loans on electric or hybrid vehicles.