Emirates NBD has entered into a partnership with Siemens to advance financing for large-scale green infrastructure projects in the UAE. This collaboration is aligned with the UAE’s Net Zero by 2050 Strategic Initiative, aiming to integrate energy efficiency measures through a combination of green technology and credit solutions.
The agreement between Emirates NBD, a prominent banking group in the MENAT region, and Siemens, a global technology leader, focuses on accelerating funding for future green infrastructure projects. It reflects a strategic synergy of technology, sustainability, and finance.
This initiative underscores both companies’ commitment to sustainability by enhancing energy efficiency projects with cutting-edge technologies. The structure of this deal is intended to serve as a model for future initiatives, reinforcing Emirates NBD’s role in sustainable development.
Siemens approached Emirates NBD to develop the administrative and technical aspects of the agreement. The collaboration resulted in a unique credit framework and an innovative suite of financing tools supporting green infrastructure projects throughout their lifecycle.
Siemens has modernized over 5,200 buildings globally with its advanced green building systems, achieving significant savings and CO2 emission reductions. With decades of innovation in the UAE, Siemens continues to contribute to developing energy-efficient frameworks that align with environmental stewardship goals.
Ahmed Al Qassim from Emirates NBD stated: “Emirates NBD’s role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions.” He added that increasing their presence in the sustainability sector positions them as a preferred banking partner for clients seeking secure financing solutions.
Helmut von Struve from Siemens emphasized: “Decarbonising infrastructure is critical for achieving the energy transition… Collaboration is at the heart of transformation.” He highlighted Siemens’ role within the Global Energy Efficiency Alliance to support the UAE’s Net Zero goals through collaboration with various sectors.
