Bank ABC has announced the launch of its Sustainable Finance Framework, a comprehensive guide outlining the bank’s approach and methodology for sustainable finance. 

 

The framework establishes clear eligibility criteria for green, social, sustainable, sustainability-linked and transition finance projects, ensuring alignment with the group’s broader sustainability strategy.  

 

Bank ABC’s Group CEO, Sael Al Waary, commented: “The banking industry plays a central role in facilitating the transition towards a more sustainable global economy. At Bank ABC, we have embedded sustainability at the core of our strategy, and sustainable finance is a key pillar of this commitment. The launch of our Sustainable Finance Framework marks another key step in our journey, enabling us to continue to support our clients to achieve their sustainability goals.”

 

Developed in line with global best practices, the framework sets out the environmental and social metrics that financing activities must meet to be classified as sustainable by Bank ABC. 

 

As part of its commitment to good governance and transparency, Bank ABC obtained a second party opinion (SPO) and external review from ISS-Corporate, a leading global SPO provider. ISS-Corporate validated that the framework is fully aligned with the International Capital Market Association's (ICMA) Green Bond Principles (GBP), Social Bond Principles (SBP), Sustainability Bond Guidelines (SBG), the Loan Market Association (LMA) Green Loan Principles (GLP) and Social Loan Principles (SLP) and contributes to the achievement of the UN SDGs, the bank said.

 

The framework will be periodically reviewed in line with market practice, and the bank intends to provide annual impact reporting, which will be published on its website, it added. – TradeArabia News Service