Siemens and Emirates NBD Join Forces to Increase Green Infrastructure Financing in the UAE
Fresh Take:
Emirates NBD and tech giant Siemens have teamed up to turbocharge the development of eco-friendly infrastructure across the UAE. This strategic union brings together finance, tech, and sustainability to speed up the nation's green initiatives under the UAE's Net Zero by 2050 Strategic Initiative.
The innovative partnership introduces a cutting-edge credit framework and a tailor-made lineup of financing tools, providing smooth access to capital for sustainable projects from their inception through their complete lifecycle, including ongoing decarbonization efforts. This collaboration was born from Siemens' approach to Emirates NBD to develop the administrative, technical, and structural backbone of the agreement, ensuring a robust, scalable, and replicable financing model for future endeavors.
According to Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, the deal showcases the bank's dedication to supporting the UAE's climate aspirations and fostering partnerships with globally-minded firms that share its ESG values. On the other hand, Helmut von Struve, CEO of Siemens in the UAE, emphasized the importance of hastening the deployment of existing energy-efficient technologies to meet global climate objectives.
By working together, both organizations are further cementing their roles in fostering sustainable innovation and constructing scalable solutions for the burgeoning green economy of the UAE. The collaboration is a significant step towards adopting greener technologies, fostering long-term investments, and setting a new standard for public-private cooperation in the region.
- This strategic collaboration between Emirates NBD and Siemens aims to boost the innovation and scalability of eco-friendly infrastructure within the UAE's green economy.
- The financial institution and tech giant have joined forces to foster sustainability by developing a unique credit framework and a suite of financing tools for sustainable projects.
- The collaboration illustrates Emirates NBD's commitment to supporting the UAE's climate aspirations and its shared ESG values with globally-minded partners.
- Siemens' approach to Emirates NBD centers around creating the administrative, technical, and structural foundations for a flexible, replicable, and robust financing model for future sustainable initiatives.
- By collaborating, both organizations are setting a new standard for public-private partnerships in the region and contributing to the long-term growth of the burgeoning green economy.
- The partnership underlines the significance of accelerating the deployment of energy-efficient technologies to aid in meeting global climate-change objectives and propel the finance, technology, and science sectors towards a more sustainable future.
