The National Bank of Bahrain (NBB) has signed a Memorandum of Understanding with Honeywell to further enhance its sustainability footprint.

This agreement provides a framework for collaboration where NBB aims to maximise its reach and offer more sustainability-focused financing plans to a larger number of customers, while supporting its existing client base with advice and financing. In turn, this will support customers’ sustainability goals and help them achieve substantial energy savings. Honeywell will support NBB’s sustainability efforts across its building assets by evaluating and offering solutions that enhance efficiencies and help reduce carbon footprint. The framework will provide respective customers with access to solutions to help decrease operational costs and track carbon emissions through capex green-financing opportunities from NBB.

Commenting on the occasion, Hisham Al Kurdi, Group Chief Executive - Corporate & Institutional Investment Banking at NBB, said: “At NBB, we continue to take great strides in our mission to provide banking solutions that help progress sustainability efforts to our clients. This collaboration represents a positive step in this direction and will further accelerate our efforts to offer financing coherent with Bahrain’s sustainability goals.”

Abdullah Al-juffali, president, Honeywell Saudi Arabia and Bahrain, said: “We are delighted to be working alongside National Bank of Bahrain to evaluate and provide NBB and our respective customers with advanced solutions to support sustainability goals. This collaboration represents a milestone in our journey.”

This agreement reinforces NBB’s continuous efforts to operate as a responsible organisation in line with global ESG best-practice standards and offering customers the latest in sustainable finance solutions to enhance their businesses. Honeywell’s enterprise performance management solution, Honeywell Forge, will provide access to real-time analytics to enable optimal performance efficiency, maximize uptime and positively impact the bottom line, while also increasing the comfort levels of building occupants.

Honeywell is a multinational conglomerate that offers ready now solutions to help its customers drive their sustainability transformations and to digitalize key industrial end markets. Its technologies help connect aircraft, buildings, manufacturing plants, supply chains and workers to make the world smarter, safer and more sustainable.