RAKBANK to contribute to the UAE banking sector’s 2030 pledge of AED 1 Trillion sustainable finance at Cop28

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06/12/2023
RAKBANK is a key contributor towards the UAE Banks Federation&rsquo;s (UBF) commitment to mobilise AED 1 trillion in sustainable finance by 2030. UBF&rsquo;s landmark declaration was made in the presence of esteemed dignitaries including H.E. Sultan Ahmed Al-Jaber, Cop28 President, H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and H.E. AbdulAziz Al-Ghurair, Chairman of the UAE Banks Federation.
Raheel Ahmed, Group CEO of RAKBANK, said &ldquo;We are proud to be a valuable contributor to UBF&rsquo;s 2030 sustainable finance vision. In line with this special occasion, RAKBANK is announcing ambitious plans to achieve net zero emissions in banking operations by 2030 aligned to UAE's net zero 2050 goal.
It is currently integrating sustainability into its core business strategy for long term financial growth. In fact, the Bank has been establishing strong sustainable business practices and has witnessed solid growth for both green mortgages as well as green auto loans segments.
We will continue to work on sustainable finance solutions through the expansion of our portfolio and the adoption of best practices. I extend my appreciation to the UAE&rsquo;s leadership for their unwavering support and for guiding us toward a more sustainable future.&rdquo;