Ajman Bank unveils ambitious net zero strategy and AED4bln sustainable finance commitment
Ajman, UAE: Ajman Bank has today announced a landmark environmental sustainability strategy, setting bold targets to achieve Net Zero emissions across its operations while mobilising significant capital towards sustainable finance initiatives.
The comprehensive plan establishes clear milestones: achieving Net Zero for Scope 1 and 2 emissions by 2030, followed by full Net Zero status across all emission scopes – including the more challenging Scope 3 financed emissions – by 2050.
Alongside these environmental targets, the Bank has committed to channelling AED 4 billion into sustainable finance by 2030, reinforcing its position as a leader in Shari'ah-compliant sustainable investment.
This strategic initiative aligns with both the UAE's Net Zero 2050 Strategic Initiative and the Ajman Vision 2030, positioning the Bank at the forefront of the national transition towards a low-carbon economy while maintaining adherence to Islamic banking principles.
Ajman Bank Chief Executive Officer Mustafa Al Khalfawi said: "Our Net Zero strategy represents the convergence of our financial expertise and environmental responsibility. As custodians operating within the framework of Islamic finance, we recognise that true stewardship extends beyond financial assets to encompass our natural resources and environmental heritage.
'This strategy enables us to make meaningful contributions to the UAE's climate ambitions while creating sustainable value for our stakeholders."
Ajman Bank's Net Zero strategy is built on three pillars: decarbonising operations by 2030, addressing financed emissions by 2050, and driving AED 4 billion into sustainable finance. The Bank is advancing a bold, principles-led approach to climate action - backed by investments in clean energy, green buildings, water conservation, and low-carbon transport.
Additionally, the Bank will develop specialised Shari'ah-compliant green financial instruments to facilitate the transition to sustainable economic activities across various sectors.
Ajman Bank Head of Enterprise Project Management Office & ESG Zohaib Ali Zahid said: "We have developed a structured framework that integrates sustainability considerations into every aspect of our business model. This includes comprehensive emissions measurement protocols, strategic reduction initiatives and innovative financial product development.
'By establishing this robust infrastructure, we can ensure that our environmental commitments translate into tangible actions and measurable results, creating lasting value for our shareholders, clients and the broader community."
The announcement was made during a formal ceremony at Ajman Bank's headquarters, attended by distinguished members of the UAE Banks Federation (UBF) Sustainable Finance Committee and the Bank's strategic partners in sustainable development.
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