The National Bank of Bahrain (NBB) has integrated ESG (environmental, social, and governance) considerations within its core business as it explores ways of introducing ESG Risk Assessment into its business proposals.
This step further emphasises the bank’s commitment towards adhering to ESG considerations across the organisation and driving the bank’s strategy to achieve sustainability.
And as a part of its initial steps, NBB has signed a partnership with Sustainability Excellence, a recognised leader in sustainability advisory services, to benefit from its expertise in this field.
Isa Hasan Maseeh, Group Chief Risk Officer at NBB Group, stated: “The integration of ESG and sustainability practices into the Bank’s risk framework embodies the essence of NBB’s business model, as it takes steps to implement ESG considerations within lending and investment proposals.”
Ali Ehsan, Chief Credit Officer at NBB, added: “As ESG continues to grow in significance in our industry, this partnership is a key step in augmenting our credit risk management framework at NBB. Our investment in ESG strategy will help us scale our credit activities across the Bank, ultimately furthering our ambition to be a sustainability leader bank in Bahrain and the region.”
Darin Rovere, Founder and CEO of Sustainability Excellence, said: “More than most companies - and faster than most companies - NBB has taken a proactive approach to adopting sustainability in the ways that matter most to a bank. In particular, this now means integrating sustainability factors, such as positive social, environmental, and socio-economic impacts – into lending and investment decision-making.
“This reduces lending risk, positions the Bank for outperformance in the fastest growing sectors, and improves positive impacts for society. Sustainability Excellence is pleased to expand our collaboration with NBB to support all aspects of these sustainable finance efforts.”
Over the course of this year, NBB has undertaken multiple ESG initiatives as part of its sustainability roadmap, such as extending sustainability responsibilities across Board Committee level, establishment of a sustainability committee, led by NBB’s Group Chief of Human Resources and Sustainability, which functions as an enabler of various ESG related initiatives by working with the various functions of the bank. – TradeArabia News Service
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