NBAD 1st UAE Bank to Issue Sustainability Report
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, has produced its 2009 Sustainability Report becoming the first UAE bank to publish an annual sustainability report.
NBAD's 2009 Sustainability Report, available on the Bank's website, is a baseline report of the Bank's sustainability performance and sets out commitments on how the bank will become a sustainability leader.
The 2009 Sustainability Report aligns to NBAD's commitment to transparency and defines its journey to become a sustainable company. In reporting and transparency, NBAD meets the Global Reporting Initiative (GRI) Application Level B which is based on the number of GRI indicators that have been included in the report.
"I am proud that NBAD is the first UAE bank and among a short list of international companies that have taken the critical step to produce a sustainability report," said Michael Tomalin, NBAD's Group Chief Executive. "As a global bank we not only seek international business but we devote resources to create a positive impact for the world. Our vision is to be the Number One Arab Bank and so we go the extra distance to be a model institution."
NBAD has adopted sustainability as a key strategic objective. "We believe that sustainable and responsible practices serve society and also contribute to increased productivity, efficiency, and profitability," Mr. Tomalin said. "To this end, NBAD has undertaken initiatives to reduce paper usage, increase energy conservation and invest more on training our workers and in programmes that encourage healthier lifestyles. Together, all of these initiatives will have a multiplier effect on our bottom line.
NBAD is one of the founding members of the Abu Dhabi Sustainability Group (ADSG), which was founded in 2008 by 15 government entities, private companies and not-for-profit organisations to promote sustainability management within their companies and to support Abu Dhabi's development. As a founding member of ADSG, NBAD will play a key role in the nation's long-term sustainability efforts.
"Adopting sustainability as a way of doing business aligns NBAD with the objectives of the Abu Dhabi Government and the visions of Abu Dhabi 2030, which sets a blueprint of development of the Emirate," said Abdulla M.S. AbdulRaheem, the Group Chief Operating Office of NBAD.
In producing the 2009 Sustainability Report, NBAD has met one of the key objectives of Abu Dhabi Sustainability Group. The report has been produced in a limited number of hard copies, in CD format and is available on-line.
"Producing the Sustainability Report is a critical step because it allows an organisation to share its progress towards becoming sustainable with its stakeholders and a global audience," said Belinda Scott, the NBAD's Corporate Sustainability & Responsibility (CSR) Officer.
NBAD's 2009 Sustainability Report follows the guidelines and framework established by Global Reporting Initiative (GRI). NBAD is working closely with GRI to improve the global guidelines for reporting corporate sustainability.