Farid Barakat, NBAD's Regional Manager and Belinda Scott, Senior Manager of CSR at NBAD, receiving the award
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, was the only Bank from the Middle East of 17 banks from across the globe, shortlisted for the Financial Times/IFC Sustainable Bank of the Year Award.
The Award recognises banks that have shown excellence in integrating environmental, social and governance considerations into their business and, along with NBAD, Access Bank of Nigeria and Exim Bank of Tanzania were finalists in the Africa/Middle East region.
“It’s a true honour for NBAD to be one of the three banks in the Africa/Middle East Region to make it to the final cut in the prestigious FT/IFC Sustainable Bank of the Year Awards. This confirms that our sustainability initiatives and efforts are at world class levels and leading in the region,” said Sally Paterson, the Head of Business Planning and Strategy at NBAD. “Corporate Sustainability and Responsibility (CSR) is a key ingredient of NBAD’s strategy and ensures we serve our communities responsibly as well as creating value for our stakeholders.”
Earlier this year, NBAD won the Pan-Middle East Award for the Best CSR programme from the prestigious emeafinance magazine, which praised NBAD’s efforts to balance returns for shareholders with consideration for their impacts on future generations in business decisions.
In 2010, NBAD became the first Bank from the UAE to publish an annual Sustainability Report. The 2011 report was published in May.
“We believe that sustainability is a way of doing business and not just about carrying out a series of standalone projects that have no purpose or relevance to NBAD’s vision or direction. Our successes show that we are moving in the right direction and makes us excited to continue the journey toward sustainability,” said Belinda Scott, Senior Manager of CSR at NBAD.
A founding member of the Abu Dhabi Sustainability Group (ADSG), NBAD’s activities are aligned to Abu Dhabi Vision 2030, which outlines environmental protection and sustainable progress and development for the Emirate. NBAD serves as a member of ADSG’s General-Secretariat, and is also a member of the Arab Sustainability Leadership Group.
NBAD is committed to improving efficiency in its operations by working to reduce energy consumption by 15%, paper usage by 10%, and water by 10% this year.
“Working with our employees to reduce our use of resources will improve efficiency and profitability for the Bank,” Ms. Scott said. “But more importantly, their influence outside the workplace will promote sustainability and responsibility to the wider society, changing behaviour at a fundamental level and creating deep and lasting impact. Our vision is to be recognised as the Worlds Best Arab Bank and our rich sustainability strategy is part of the mechanism that will lead us to achieve this”.