Al Maryah Community Bank (Mbank) has said in an announcement that it has signed a memorandum of understanding with the science-based company SBTi.
Publish dateWednesday 30 October 2024 - 15:17
According to Amac News: Based on Mbank's announcement, this bank is the first digital bank in the United Arab Emirates to sign this pledge.
SBTi is an organization that helps companies take meaningful climate action by reducing greenhouse gas emissions and contributing to global efforts to reduce the effects of climate change.
It also provides a framework for companies to set specific, measurable, and time-bound goals that are scientifically validated.
According to the declaration, the aim of this initiative is to enable companies to achieve the goals of the Paris Agreement.
The Paris Agreement seeks to limit global warming to less than 2°C above pre-industrial levels and pursue efforts to limit temperature increase to 1.5°C.
Mbank also added that it continues to pursue the full expansion of digital capabilities across the organization to ensure a reduction in its overall carbon footprint.
These efforts include developing and offering sustainable corporate loan products and services to customers digitally, following the transition to a low-carbon economy, and equipping Mbank employees with comprehensive ESG courses and training materials.
SBTi is an organization that helps companies take meaningful climate action by reducing greenhouse gas emissions and contributing to global efforts to reduce the effects of climate change.
It also provides a framework for companies to set specific, measurable, and time-bound goals that are scientifically validated.
According to the declaration, the aim of this initiative is to enable companies to achieve the goals of the Paris Agreement.
The Paris Agreement seeks to limit global warming to less than 2°C above pre-industrial levels and pursue efforts to limit temperature increase to 1.5°C.
Mbank also added that it continues to pursue the full expansion of digital capabilities across the organization to ensure a reduction in its overall carbon footprint.
These efforts include developing and offering sustainable corporate loan products and services to customers digitally, following the transition to a low-carbon economy, and equipping Mbank employees with comprehensive ESG courses and training materials.
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Source : news agency wam
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