logo
Emirates NBD partners with Siemens to boost financing for large-scale green infrastructure projects and support decarbonisation in the UAE

Emirates NBD partners with Siemens to boost financing for large-scale green infrastructure projects and support decarbonisation in the UAE

Zawya10 hours ago

Collaboration highlights Emirates NBD and Siemens' commitment to expand the integration of energy efficiency measures by combining green tech and credit solutions
Dubai, UAE: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has partnered with Siemens, a global technology leader, to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE.
The landmark agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE's Net Zero by 2050 Strategic Initiative. A key objective of this initiative is to enhance and integrate energy efficiency projects, prioritising sustainability through the adoption of cutting-edge technologies.
Throughout the agreement's development, both Emirates NBD and Siemens demonstrated a strong commitment to aligning on critical areas related to credit and operational considerations. The structure of this deal is designed to serve as a replicable model for future initiatives, reinforcing Emirates NBD's role as a catalyst for sustainable development.
As the UAE's leading financial institution, Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts.
Siemens, a recognised global leader in energy efficiency technologies, has successfully modernised more than 5,200 buildings worldwide through its advanced green building systems, achieving more than EUR 1 billion in savings and reducing CO2 emissions by over 10 million tons. With a rich history of successful innovation in the UAE spanning decades, Siemens continues to play a pivotal role in developing energy-efficient frameworks that underscore both its, and the UAE's, long-term commitment to environmental stewardship.
Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said: 'Emirates NBD's role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions. It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.'
He added: 'By increasing our presence in the sustainability sector, Emirates NBD is well positioned to become the banking partner of choice to provide clients with access to the trusted, secure, and transparent financing solutions they need to drive continuous innovation and long-term success.'
Helmut von Struve, CEO of Siemens in the UAE, said: 'Decarbonising infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals. As a proud member of the Global Energy Efficiency Alliance, an initiative spearheaded by the Ministry of Energy and Infrastructure in the UAE, we are leveraging our global expertise in energy efficiency to support the UAE's Net Zero goals. Collaboration is at the heart of transformation and by working together with governments, industries, and financial institutions, we can scale the solutions needed to drive meaningful change.'
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
About Siemens
Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company's purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.
In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘Critical minerals availability pose growing threat to energy transition'
‘Critical minerals availability pose growing threat to energy transition'

Zawya

time42 minutes ago

  • Zawya

‘Critical minerals availability pose growing threat to energy transition'

Critical minerals such as copper and silver, which underpin the clean energy transition, are increasingly exposed to supply chain vulnerabilities, according to a senior executive at UAE-based cable and wire company Ducab. Speaking at the World Utilities Congress held from 27–29 May 2025 in Abu Dhabi, Shailendra Pratap Singh, Vice President for GCC, Europe, and the Americas at Ducab stated that copper demand is set to double within five to ten years, while traditional supply sources such as Chile, Peru, and the Democratic Republic of Congo face heightened risks from political instability and climate-related disruptions. 'There are so many political instabilities and climatic impacts, so any new investment that goes in needs a lot of approvals,' he said. He highlighted the increasing cost of copper, referencing forecasts from Goldman Sachs, which foecasts prices to reach $10,500 per metric tonne by the end of 2026, up from around $3,000 fifteen years ago. Singh added that silver, essential for solar panel manufacturing, is also under supply pressure. In response, Ducab has taken internal measures to strengthen supply chain resilience, including localised recycling initiatives. 'We try to recover and recycle our copper to the extent possible. We have in-house granulators, and we work closely with DEWA and TAQA to take the material back at the end of its lifecycle,' he said. Ducab's innovation extends to process optimisation. 'For aluminium rods, we get molten aluminium in a crucible from EGA (Emirates Global Aluminium), which is located very close to our factory. This eliminates the need to cool and remelt the material, cutting emissions significantly.' According to Singh, strengthening supply chains through material recovery and operational innovation will be essential for utilities and manufacturers as they address rising demand, resource constraints, and decarbonisation goals simultaneously. (Writing by Rajiv Pillai; Editing by Anoop Menon) (

Dubai Metro Blue Line: What world's highest station by Burj Khalifa architects will look like
Dubai Metro Blue Line: What world's highest station by Burj Khalifa architects will look like

Khaleej Times

time42 minutes ago

  • Khaleej Times

Dubai Metro Blue Line: What world's highest station by Burj Khalifa architects will look like

UAE is a land of the world's 'mosts' — the fastest, the biggest, the richest. And now the Emirates has added another crown to its urban landscape, the world's highest metro station under the Blue Line network. The Dubai Ruler, a visionary long associated with the Metro's history, laid the foundation stone of the first station of the new network — Emaar Properties — set to begin on September 9, 2029, once again choosing the iconic number nine. The station's design looks futuristic, to say the least. It involves a portal-like structure, invoking a literal 'gateway to the future', part of Dubai's vision. Design masterminds A natural first question is: Who designed the world's highest station? On Monday, it was revealed to be none other than the creative minds behind the world's tallest tower, Burj Khalifa. The renowned American architectural firm Skidmore, Owings & Merrill (SOM) have also designed the Olympic Tower in New York, and the Sears Tower in Chicago. Standing at a height of 74 metres (242 ft), the station has 3 levels, and includes layers of stunning architecture. At first glance, its towering walls rise to the skies while remaining firmly rooted in Earth, with warm, natural tones and textures. The ceilings have glass panels, allowing sunlight to stream into the platforms and the lobby. The platform seems to emerge from the walls of the station, while a pedestrian bridge connects passengers to the metro line. Natural stone and metals blend together in classic Dubai fashion, embracing tradition and modernity. Jura limestone bronze metal will form the wall panels, while the floor tiles are made of granite. The Blue Line's design was earlier unveiled in October 2024, when a station model showcased a large, oval-shaped design arching over the tracks, different from the fully-enclosed stations that are currently in use in the Red and Green Lines. The current design is starkly different from the earlier model, constructing large vertical walls around the platform, while also retaining the typical metro terminal arch used in the Red and Green Lines. The station stands as a mini-community, with electric vehicle charging points, spaces for drop off, and parking for users surrounded by lush green spaces. Set to transport 160,000 passengers per day by 2040, the station will take commuters to their destination, and a little closer to the future.

Leadership Announcement: Tarun Jewalikar joins Novotel and Adagio Premium Dubai Al Barsha as Cluster F&B Director
Leadership Announcement: Tarun Jewalikar joins Novotel and Adagio Premium Dubai Al Barsha as Cluster F&B Director

Zawya

timean hour ago

  • Zawya

Leadership Announcement: Tarun Jewalikar joins Novotel and Adagio Premium Dubai Al Barsha as Cluster F&B Director

Dubai, United Arab Emirates — Accor is proud to announce the appointment of Tarun Jewalikar as Cluster Director of Food and Beverage for Novotel Dubai Al Barsha and Adagio Premium Dubai Al Barsha. Tarun steps into this new leadership role with an invested motive to redefine the F&B offering as a destination-led experience, championing culinary innovation, commercial excellence, and sustainability. Tarun previously served as Cluster F&B Manager for Accor's Deira Waterfront cluster, overseeing operations across Ibis Styles, Mercure Hotel, and Adagio Dubai Deira. Under his guidance, the cluster achieved significant milestones like strong profitability metrics across all properties, a highly motivated team and industry-recognized sustainability initiatives. He led the successful launch of restaurant and bar concepts, high-profile regional events, and established impactful partnerships with local and international brands. In his new role, Tarun will spearhead a transformative vision for Novotel and Adagio Premium Dubai Al Barsha, positioning the hotels' F&B offerings as standalone lifestyle destinations. His leadership is anchored in a people-first culture, where team development, inclusion, and performance optimization take center stage. He will be responsible for leading F&B strategy, innovation, and commercial performance, while delivering curated and mystical guest experiences designed to elevate brand perception and customer loyalty. Speaking on his appointment, Tarun Jewalikar commented: 'I'm honoured to take on this new challenge with Accor. My vision is to evolve hotel dining into destination-led experiences that resonate emotionally and culturally with our guests, while driving meaningful value for our teams, owners, and the community.' A known pioneer in ESG-forward hospitality, Tarun has led impactful sustainability programs including zero-waste initiatives, hydroponic partnerships, and local sourcing collaborations aligned with Accor's brand and ownership values. Tarun holds an MBA in Global Hospitality Management from Les Roches Global Hospitality School, Switzerland, and a Bachelor of Science (Hons.) in Hotel and Restaurant Management from Oxford Brookes University, UK. Accor congratulates Tarun on his new role and looks forward to his continued impact in elevating hospitality experiences across the region. About Novotel Dubai Al Barsha Situated in the heart of Dubai, Novotel Dubai Al Barsha is designed to meet the requirements of travellers and residents alike. The property offers a relaxed yet lively atmosphere, inviting guests to make everyday moments matter. With an intuitive design and a range of rewarding experiences, the property promises a sharp urban-style living coupled with a comfortable atmosphere. Novotel Dubai Al Barsha offers the perfect destination to connect with family, friends and colleagues. Novotel Dubai Al Barsha won TripAdvisor's Travellers Choice Award and is rated Fabulous by guests on for its lively ambiance and a team of passionate Heartists. The Novotel Dubai Al Barsha offers to guests' exclusive savings and rewards as part of its lifestyle loyalty programme – ALL: Accor Live Limitless. Members can earn and redeem points and enjoy savings for every stay while discovering a world of unique benefits such as room upgrades and exclusive discounts in participating restaurants and more.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store