NBB supports ESG awareness campaign launched by DDPW
The National Bank of Bahrain (NBB) announced its support to the latest awareness campaign to be launched by the Director Development Programme for Women (DDPW), a first of its kind in the Kingdom to focus on the importance of Environmental, Social and Governance (ESG) reporting.
The campaign, which comes as part of DDPW’s efforts to continuously expand the knowledge base of its participants on topics relevant to the industry, includes a series of ‘DDPW Talks’ powered by NBB and EMIC Training, and comes as a result of capital markets operator, Bahrain Bourse (BHB) launching its own voluntary ESG reporting guidelines for listed companies and other stakeholders.
The first session which was held recently and which provided a background on ESG reporting while highlighting its significance, had a total of 336 attendees and was delivered by Marwa Al-Maskati, Director-Marketing & Business Development at Bahrain Bourse and Eline Hilal, Director- Investor Relations, Insurance & Corporate Secretary at Aluminium Bahrain B.S.C. (Alba).
Commenting on this initiative, Jean-Christophe Durand, Chief Executive Officer of NBB stated, “As the national bank, it gives us great pride to be powering such initiatives that provide our employees, and other professionals across a number of industries, with the opportunity to gain more knowledge and insight on this increasingly important topic. Today ESG reporting has become a benchmark for big corporations, and has a direct impact on ESG ratings, so it cannot be ignored. Through maintaining a mindset focused on ESG, we are able to align with the UN’s Sustainable Development Goals and better contribute towards the achievement of the Economic Vision 2030."
Further commenting was Marwa Al-Maskati, Director-Marketing & Business Development at Bahrain Bourse (BHB), who said “The ESG voluntary reporting guidelines for listed companies was launched by BHB to enhance embracement of sustainability KPIs and transparency in the capital markets . Through platforms such as DDPW, we are pleased to be able to share the value of ESG and increase awareness and understanding on the concept. By making these sessions accessible to all listed companies, we are able to educate listed companies as well as companies from various different sectors in the Kingdom of Bahrain on the importance of ESG reporting and its impact on ESG rating and ultimately credit rating and valuation of companies.”
DDPW will be organising and launching a series of sessions that will focus on the Environmental, Social and Governmental aspects of the ESG Report and will be delivered by relevant entities specialised in such topics.
“DDPW has provided us the platform to share Alba’s story since we have started reporting on ESG metrics through our sustainability reports back in 2016 and this was clearly reflected in Alba’s ESG rating. Through participating in initiatives such as DDPW, we are provided with an invaluable opportunity to share our experience with other participants and exchange knowledge on important topics such as this matter especially with the remarkable rise of ESG in investment processes and decision-making,” stated Eline Hilal, Director- Investor Relations, Insurance & Corporate Secretary at Alba.
Prior to the introduction of the voluntary report, NBB proudly implemented (ESG) reporting in 2019, an achievement which is a source of great pride for the bank and showcases its desire to integrate sustainability into its corporate strategy and business practices, further contributing towards the Bank’s position as a local benchmark in best practices.