22nd May 2023
NBB Ranks 1st in the MENA Region for ESG Performance by Refinitiv ESG Scoring
The National Bank of Bahrain (NBB) has been ranked first in the MENA region for its Environmental, Social and Governance (ESG) performance by Refinitiv ESG Scoring. The bank’s leading ranking of 89 points places it within the top 2% of global banking services companies rated by Refinitiv. The achievement reflects NBB’s commitment to sustainability and responsible banking, with a continued focus on community engagement and innovation further cementing its position as a leader in the banking industry.
The coveted ranking underscores NBB’s resilient efforts to implement key sustainability initiatives across its business operations, including financing renewable energy projects, developing a comprehensive environmental conservation plan to reduce energy and water usage, and rolling out sustainable financing products. The bank’s extensive range of ESG initiatives have enabled the organisation to reduce its carbon footprint, as well as adopt renewable energy sources and sustainable business practices.
Commenting on the achievement, Usman Ahmed, Group CEO of NBB, said: “We are honoured to be recognised as the top-ranked bank in the MENA region by Refinitiv ESG Scoring. This is a reflection of our commitment to embedding sustainable practices at NBB and reinforces our vision to be the most sustainable organisation in the region. We will continue to invest in sustainable initiatives and innovative solutions that create long-term value for our stakeholders.”
On his end, Salman Radhi, Information Security Technical Support Manager & Sustainability Officer at NBB, said: “We are proud to have achieved a first-place ranking in ESG performance in the MENA region, a testament to our evolving sustainability framework and our ongoing milestones in the banking sector. We have ensured that we continue to support the economic, social, and environmental well-being of the community in which we operate by integrating a range of initiatives to reduce our environmental impact, promote social responsibility, and ensure good governance.”
The Refinitiv ESG rankings assess companies’ transparency and performance on a range of ESG metrics across 10 themes including environmental impact, workforce diversity, and risk management. The rankings provide unique insight into companies’ responsible business practices and sustainability impacts. More than 9,500 companies globally are scored and ranked as per Refinitiv’s ESG pillars.