Latest news with #NetZeroby2050StrategicInitiative
Mid East Info
a day ago
- Business
- Mid East Info
Emirates NBD partners with Siemens to boost financing for large-scale green infrastructure projects and support decarbonisation in the UAE
Creative financing deal between major banking and industrial institutions aligns with the UAE's Net Zero by 2050 Strategic Initiative Collaboration highlights Emirates NBD and Siemens' commitment to expand the integration of energy efficiency measures by combining green tech and credit solutions Dubai, UAE, June 2025: 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.
Gulf Today
2 days ago
- Business
- Gulf Today
Deal to boost financing for future green infrastructure projects in UAE
Emirates NBD (ENBD) has partnered with Siemens to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE. The 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. 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. Ahmed Al Qassim, Group Head of Wholesale Banking at 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.' 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.' At the end of last month, Al Fanar Gas Group, the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, to jointly advance decarbonisation and clean energy innovation across the UAE. The agreement, signed on the sidelines of the World Utilities Congress 2025 in Abu Dhabi, supports the UAE Net Zero 2050 Strategy. The two companies will co-develop clean energy solutions that integrate advanced digital technologies into energy and industrial infrastructure, with a focus on areas such as hydrogen and Power-to-X, flare gas management, and port and vessel electrification. These efforts will be backed by rigorous feasibility studies to identify scalable solutions that can be seamlessly integrated into existing energy networks. The collaboration will also leverage Siemens Energy's global expertise in digitalizsation to introduce intelligent systems that optimise energy consumption, monitor emissions, and streamline operations - accelerating the energy transition in a practical and measurable way. Khaled Ben Said, CEO of Al Fanar Gas Group, commented, 'This partnership is not just about technology - it's about responsibility. As a UAE company, we see it as our duty to help shape an energy future that reflects the values and ambitions of our leadership.' 'Working with Siemens Energy allows us to pair local insight with global innovation to address the region's most pressing energy challenges. This MoU is a commitment to actionable progress - not in the distant future but starting now.' Khalid Bin Hadi, Managing Director for the UAE, Siemens Energy, said, 'The MoU reflects our commitment to working with regional partners to explore practical pathways towards decarbonisation. We look forward to collaborating with Al Fanar Gas Group to identify solutions that are both scalable and aligned with the UAE's long-term sustainability objectives.' Earlier Emirates NBD, a leading banking group in the Menat (Middle East, North Africa and Türkiye) region, has partnered with Sidara, a global collaborative of specialist architecture, engineering and consulting brands, to arrange a $50 million Sustainability Linked Loan (SLL). Aligning Sidara's financial strategy with its sustainability objectives, this strategic move marks Sidara's first SLL and positions the company as one of the first movers to enter the green finance market in the region. The new loan structure ties financial incentives to Sidara's sustainability performance, encouraging the company to adopt more responsible and more sustainable operational practices. The proceeds of the loan will fund Sidara's working capital requirements and will prominently include allocations dedicated to supporting Sidara's transition towards net zero operations, in line with its global commitment to the World Green Building Council's Net Zero Buildings Commitment as well as the UAE Pledge for Net Zero. Pri McNair, Group Co-Head of Coverage at Emirates NBD, commented, '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. WAM
Hi Dubai
2 days ago
- Business
- Hi Dubai
Emirates NBD Partners with Siemens to Boost Green Infrastructure Funding in UAE
Emirates NBD has joined forces with Siemens to launch a pioneering finance and resourcing agreement aimed at accelerating green infrastructure development across the UAE. The agreement marks the outcome of a strategic collaboration that blends finance, technology, and sustainability in support of the UAE's Net Zero by 2050 Strategic Initiative. It introduces a unique credit framework and a tailored suite of financing tools designed to fund green projects from initial installation through their full lifecycle, including decarbonisation efforts. Siemens approached Emirates NBD to help design the structural, technical, and administrative backbone of the agreement. The result is a forward-looking financial model that enables greater access to capital for sustainable infrastructure. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the deal reflects the bank's commitment to supporting the UAE's climate ambitions and deepening partnerships with global firms that share its ESG values. 'By working closely with Siemens, we're unlocking new opportunities in energy efficiency and sustainable technologies,' he said. Helmut von Struve, CEO of Siemens in the UAE, emphasised the importance of speeding up implementation of existing energy-efficient technologies to meet global climate targets. 'Decarbonising infrastructure is essential to the energy transition,' he noted. The partnership reinforces both organisations' roles in driving sustainable innovation and creating scalable solutions for the UAE's evolving green economy. News Source: Emirates News Agency
Zawya
05-03-2025
- Business
- Zawya
EMSTEEL and Emirates Red Crescent provide food essentials to 300 underprivileged families
In the spirit of Ramadan, EMSTEEL, the UAE's largest steel and building materials manufacturer, has partnered with Emirates Red Crescent to provide essential food packages to 300 underprivileged families. This initiative reinforces EMSTEEL's role as a pillar to its community, while embodying the values of generosity and compassion that define the holy month. H.E. Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, said: 'We are proud to be a pillar to the UAE in the 'Year of Community' by fostering unity and social responsibility in the holy month of Ramadan. As we come together to support underprivileged families, we embrace the power of collaboration with Emirates Red Crescent. Together, hand in hand, we aim to cultivate shared responsibility, while unlocking potential for inclusive and sustainable growth, for the benefit of all." About EMSTEEL EMSTEEL is a public joint stock company (ADX: EMSTEEL) and the UAE's largest steel and building materials manufacturer. The Group leverages cutting-edge technologies to supply both the local market and over 70 international markets with high-quality finished products, creating a one-stop shop for the manufacturing and construction sectors. EMSTEEL is committed to contributing to the UAE's industrial strategy 'Operation 300 billion' by delivering market-leading products to support local industries, creating job opportunities for UAE Nationals, and enhancing its sustainable practices. The Group is a global leader in low-carbon steel production and is aligned with the UAE's Net Zero by 2050 Strategic Initiative. Headquartered in Abu Dhabi, EMSTEEL operates 16 state-of-the-art plants, with a production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement annually, fueling the nation's most iconic projects. EMSTEEL is majority owned by ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. For more information, please visit our website:
Trade Arabia
17-02-2025
- Business
- Trade Arabia
Emsteel plans comprehensive decarbonisation strategy
Emsteel, one of the GCC region's largest publicly traded steel and building materials manufacturers, today unveiled its ambitious decarbonisation strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as the baseline year, with the ultimate goal of reaching net-zero emissions by 2050. This strategy underscores Emsteel's commitment to sustainable manufacturing and aligns with the UAE's Net Zero by 2050 Strategic Initiative, the UAE's Nationally Determined Contribution (NDC 3.0), and the Paris Agreement. EMSTEEL is dedicated to driving industrial decarbonization in line with the UAE's goal of a 27% reduction in industrial emissions by 2035 from 2019 levels, the company said. To achieve a significant reduction in its CO₂ footprint, the group will focus on implementing key decarbonisation strategies, including enhancing energy efficiency, incorporating advanced process optimisation technologies and utilising alternative fuels and raw materials in steel and cement production. Additionally, it is also expected to accelerate the use of clean and renewable energy to cover 100% of electricity demand by 2030. Eng Saeed Ghumran Al Remeithi, Group CEO – Emsteel, said: 'Emsteel is committed to leading the transformation of the construction and manufacturing sectors through sustainable practices. Our decarbonization strategy not only aligns with the UAE's Net Zero 2050 goals, but also positions EMSTEEL as a global leader in low-carbon steel and cement production. Through innovation, investment, and collaboration, we are building a more sustainable future for our industry and our planet.' The steel and cement industries are among the most carbon-intensive sectors globally, generating a substantial share of GHG emissions. Acknowledging both the challenges and the significant social and economic benefits of successful decarbonization, Emsteel is committed to significantly reduce its Scope 1 and Scope 2 emissions in the coming years. The group has already made substantial progress in reducing Scope 1 and Scope 2 emissions, as well as emissions intensity during 2019 and 2023. As of 2023 Emsteel's total Scope 1 and 2 emissions stood at 4.5 million tonnes of CO₂, which is 23% below the baseline year of 2019, it said. The above achievements have been driven by advancements in energy efficiency, the implementation of carbon capture technologies, and the integration of clean and renewable energy solutions. Additionally, the group continues pioneering critical decarbonization technologies and has recently launched a groundbreaking pilot green hydrogen project—the first of its kind in the Middle East and North Africa—in collaboration with Masdar. This initiative leverages green hydrogen to extract iron from iron ore, marking a significant milestone in the region's journey toward sustainable steel production. In September 2024, the Emsteel was appointed as Co-Chair of the Alliance for Industry Decarbonisation (AFID) led by the International Renewable Energy Agency (Irena). Emsteel was also recognised as the 2024 Steel Sustainability Champion by the World Steel Association for its pioneering efforts in decarbonising steel production. The World Economic Forum recognised Emsteel for its outstanding efforts in decarbonising the iron and steel industry, placing it among the top five leading steel companies worldwide that have received this recognition. Finally, at the 'Make it in the Emirates Awards 2024', the group's contributions to the UAE's industrial sector were recognised with the Best Sustainable Manufacturing Award and the ICV Excellence Award. -
