Press Release —
Arab Bank’s has launched its inaugural Sustainable Finance Framework in line with
its efforts towards integrating sustainability into its operations, the bank
said in a press statement.
اضافة اعلان
It said the framework will support its
sustainability commitments and environmental, social and governance (ESG)
priorities.
“Arab Bank is the first financial institution in
Jordan to issue such a framework, which is aligned with the four core
components of the Green Bond Principles 2021,” the statement said.
It said the components were namely Social Bond
Principles 2021 and Sustainability Bond Guidelines 2021 published by the
International Capital Market Association, as well as the Green Loan Principles
2021, and Social Loan Principles 2021 published by the Loan Market Association.
Arab Bank is the first financial institution in Jordan to issue such a framework, which is aligned with the four core components of the Green Bond Principles 2021.
“The Bank has obtained a Second Party Opinion from
S&P Global Ratings, which has affirmed the Framework’s alignment with the
aforementioned ICMA and LMA principles,” the statement said.
Arab Bank intends to use the framework as the basis
to issue sustainable debt instruments to advance projects that will contribute
to climate action, employment generation as well as support the UN Sustainable
Development Goals, the statement said.
Arab Bank’s CEO
Randa Sadik said: “We are delighted
to have published our Sustainable Finance Framework, and Second Party Opinion
from S&P Global Ratings”.
“This is yet another significant milestone in our
sustainability journey and a testament to Arab Bank’s efforts towards
supporting the ESG agenda and creating a positive impact in Jordan, the MENA
region and wherever we operate,” she said.
Arab Bank was the first bank in Jordan, and among
the first financial institutions in the region to issue GRI based
Sustainability reports annually.
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