Ajman Bank has announced a new contract with Positive Zero, a leader in decarbonising businesses and communities in the Middle East, that will enable huge cost and carbon footprint savings, a report said.

The bank is planning to implement the fully financed energy efficiency solutions of Positive Zero, through the latter’s range of on-site clean power, energy efficiency, and electric mobility solutions, Emirates News Agency, WAM, said.

Through this initiative, the bank expects to save 28% on energy costs and reduce carbon dioxide emissions by 752 tonnes annually, equivalent to planting 11,300 trees.

The project involves a 10-year Shared Savings Energy Performance Contract (Ssepc) delivered by Positive Zero’s energy efficiency arm (Taka Solutions), which is the leading provider of energy efficiency services in the region.

It includes the implementation of eight energy efficiency measures (EEMs) tailored to Ajman Bank's facilities, in line with its robust commitment to environmental sustainability.

Mustafa Al Khalfawi, CEO of Ajman Bank, said: "Our strategic partnership with Positive Zero marks a significant milestone in our journey towards sustainability and operational excellence.

“This collaboration underscores our commitment to innovation and environmental stewardship, reflecting our dedication to not only meet the financial needs of our clients but also to contribute positively to the community and environment we operate in.

“Leveraging on Taka Solutions’ expertise in energy management, we aim to significantly reduce our carbon footprint and operational costs, setting a new benchmark for sustainable practices in the banking industry.

“Our collaboration with Positive Zero and Taka Solutions is a testament to Ajman Bank’s ongoing efforts to embrace responsible banking practices that support economic growth while ensuring environmental sustainability.”

David Auriau, Co-Founder and CEO of Positive Zero, said: “We are excited to be working with Ajman Bank in prioritising energy efficiency to reduce the impact of their own carbon footprint.

“It unlocks economic opportunities within the banking industry and supports the nationwide drive towards sustainability. Energy efficiency is an imperative to meet the country’s ambitions to become over 40% more efficient by 2050.

“Along with our trusted partners like Ajman Bank, we are investing and driving the widespread adoption of efficient technologies and solutions to develop more sustainable built environments and smarter cities, helping businesses substantially reduce their consumption, costs and carbon emissions.” – TradeArabia News Service