Emirates NBD partners with Sidara for $50 million sustainability-linked loan
![Emirates NBD partners with Sidara for $50 million sustainability-linked loan](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/sidaras_image1.jpeg)
Emirates NBD (banking group in the MENAT region) has partnered with Sidara (specialist architecture, engineering, and consulting brands collaborative) to arrange a $50 million Sustainability Linked Loan.
The loan marks a significant step for Sidara, positioning it as a trailblazer in the region’s green finance market. This loan structure merges financial incentives with Sidara’s sustainability performance, boosting responsible and sustainable operational practices.
Pri McNair, Group Co-Head of Coverage at Emirates NBD, commented in a release: “By supporting Sidara in transitioning their regional operations and service offerings towards greater environmental sustainability, Emirates NBD is once again showing that it is at the forefront of driving significant change, both in propelling clients’ growth towards more environmentally friendly financial practices and also in shaping a more sustainable world. This initiative is another reflection of our dedication to fostering a future where financial success and environmental stewardship go hand in hand.
She added: “This initiative marks a significant step in our journey to become the leading banking partner for sustainable development in the region. We will continue to serve our clients as a trusted transition partner, guiding them through their sustainability journeys and play an active role in pushing for a sustainable and low-carbon future.”
Also read: ADB prioritizes private capital mobilization for climate goals amid concerns
Sidara plans to align with its broader commitment to global sustainability initiatives through this financing endeavor, including the World Green Building Council’s Net Zero Buildings Commitment and the UAE Pledge for Net Zero.
Balsam Nehme, Sidara’s Sustainability Sector Lead, commented, “With the world and its systems under immense and growing pressure from human activity, it is essential for businesses like Sidara to lead the way in regenerative and responsible business practices that put people and planet first…We are committing to use our first Sustainability-Linked Loan to drive forward sustainability initiatives that will lead to decarbonizing our own operations across the region and empower our teams to offer superior sustainability advisory to our clients, across sectors, in order to support the region’s ambitious Net Zero agenda.”
Quote of the Day
No quotes found.
Newsletter
Related News