Commercial Bank of Dubai (CBD) announces its commitment to carbon-neutral operations by 2030 to combat climate change and advance the UAE’s sustainable future.
The commitment includes reducing greenhouse gas (GHG) emissions from the bank’s operations by 50% by 2030.
“Commercial Bank of Dubai is taking proactive measures to tackle climate change head-on,” said Dr Bernd van Linder, CEO at Commercial Bank of Dubai.
“Our commitment to carbon neutral operations by 2030 signifies our dedication to a sustainable future. As the bank that is backing the nation’s ambition, we take pride in aligning our efforts with the UAE’s net-zero 2050 goal and believe businesses play a vital role in addressing the climate crisis.”
The bank’s greenhouse gas emissions baseline across both its operations and financed emissions is one of the UAE’s most comprehensive, integrating materiality guidelines from prominent industry-standard organisations, including the GHG Protocol and the Partnership for Carbon Accounting Financials.
Central to CBD’s emission reduction strategy are emissions from the bank’s facilities and transportation. The bank is implementing initiatives to address emissions related to purchased goods and services, waste generated in operations, business travel, employee commuting, and upstream and downstream leased assets.
The lender has also embarked upon a transformation program to support its customers in lowering their carbon footprint by offering a range of sustainable finance solutions.
CBD recognises the urgency of addressing climate change and will conduct regular assessments to ensure sufficient reductions are being delivered across its own operations emissions and financed emissions, in harmony with the UAE’s 2050 net-zero commitment.
The bank’s commitment extends beyond emissions reduction. It developed an Environmental, Social, and Governance (ESG) strategy in 2023 and unveiled its sustainable finance framework this year.
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