May 8, 2025 - 02:05
Many banks in the United Arab Emirates are increasingly recognizing sustainable finance as a significant profit center. Vijay Bains, Group Chief Sustainability Officer and Head of ESG at Emirates NBD, highlighted this trend, emphasizing the growing importance of sustainability in the banking sector. In recent discussions, Bains noted that the momentum for sustainable finance is gaining traction across the Gulf Cooperation Council (GCC) region.
This shift aligns with broader economic diversification plans within the UAE, as the nation seeks to reduce its reliance on oil revenues. Sustainable finance not only supports environmental objectives but also opens up new avenues for growth and investment. As banks integrate environmental, social, and governance (ESG) principles into their operations, they are positioning themselves to capitalize on emerging market opportunities.
The dialogue around sustainable finance is becoming increasingly relevant, as stakeholders from various sectors recognize the need for responsible investment practices. This evolution reflects a commitment to sustainability that could reshape the financial landscape in the UAE and beyond.
