Emirates NBD, BeZero Carbon to support carbon market trading

Emirates NBD has partnered with BeZero Carbon, a global carbon ratings agency. This collaboration marks Emirates NBD as the first bank in the UAE to integrate an independent ratings agency into its voluntary carbon market trading operations.

By leveraging BeZero Carbon’s comprehensive, science-based risk assessments, the bank aims to provide its customers with enhanced due diligence on carbon offset projects, boosting trust in the quality and integrity of their investments.

The collaboration is a response to the increasing demand from corporations to manage their carbon emissions offsetting, in alignment with the UAE’s Net Zero by 2050 strategic initiative.

Collab with BeZero Carbon to benefit Emirates NBD customers

The collaboration with BeZero Carbon ensures that Emirates NBD customers can access high-quality carbon credits globally, backed by rigorous evaluations from a trusted partner.

“We are excited to partner with BeZero Carbon to strengthen our role in promoting the decarbonisation of the economy,” said Vijay Bains, chief sustainability officer and group head of ESG at Emirates NBD. “We are committed to driving significant change, helping our clients transition towards more sustainable financial practices. This partnership ensures that every solution offered to our customers has been thoroughly vetted and verified, empowering them to meet their sustainable investment objectives.”

Tommy Ricketts, CEO and co-founder of BeZero Carbon, also expressed enthusiasm about the partnership: “We are thrilled to collaborate with Emirates NBD, a leading UAE bank, to demonstrate the value of carbon ratings as companies across the region enter carbon markets.

“With the region’s strong interest in effective climate solutions and emissions reductions, our tools will help businesses in the UAE build trust and transparency, driving impactful climate action.”

Read: Global carbon markets value hit record $949bn in 2023