Emirates NBD, a prominent banking group in the MENAT region, has joined forces with Sidara, a global collaborative of architecture, engineering, and consulting brands, to orchestrate a groundbreaking USD 50 million Sustainability Linked Loan (SLL). Marking Sidara’s inaugural foray into the green finance market, this strategic move positions the company as an early leader in advancing sustainability objectives within the region.
This pioneering loan structure intertwines financial incentives with Sidara’s sustainability performance, creating a powerful mechanism to foster responsible and sustainable operational practices within the company. The initiative underscores the commitment of both Emirates NBD and Sidara to drive meaningful change by aligning financial strategies with environmental sustainability.
The funds from the loan will primarily cater to Sidara’s working capital requirements, with a significant allocation dedicated to supporting the company’s transition towards net-zero operations. This commitment aligns with Sidara’s global pledge to the World Green Building Council’s Net Zero Buildings Commitment and the UAE Pledge for Net Zero.
Pri McNair, Group Co-Head of Coverage at Emirates NBD, emphasized the bank’s dedication to propelling clients toward more environmentally friendly financial practices. This initiative reflects the bank’s commitment to fostering a future where financial success and environmental stewardship coalesce. McNair expressed, “This marks a significant step in our journey to become the leading banking partner for sustainable development in the region.”
Nader Aboushadi, Group Chief Treasurer at Sidara, highlighted that advancing sustainability is at the core of Sidara’s mission. The partnership with Emirates NBD is viewed as a crucial step in this journey. Aboushadi noted, “We look forward to continuing the journey with our lenders and continue to set the standard and be at the forefront of the market.”
Balsam Nehme, Sidara’s Sustainability Sector Lead, emphasized the importance of leading the way in regenerative and responsible business practices. As a signatory to the World Green Building Council Net Zero Carbon Commitment and the UAE’s Climate Responsible Companies Pledge, Sidara is committed to using the Sustainability-Linked Loan to decarbonize its operations across the region and offer superior sustainability advisory to clients, supporting the ambitious Net Zero agenda of the region. The loan stands as a testament to Sidara’s dedication to putting people and the planet first amidst the growing pressures from human activity on the world and its systems.
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