Emirates NBD, Siemens to finance UAE's green infrastructure projects
Dubai: Emirates NBD partnered with global technology leader Siemens to finance large-scale green infrastructure projects and support decarburization in the UAE, according to a press release.
In line with the UAE's Net Zero by 2050 Strategic Initiative, the joint agreement integrates technology, sustainability, and finance.
The collaboration aims to improve and integrate energy efficiency projects, prioritizing sustainability through the adoption of advanced technologies.
Both Emirates NBD and Siemens affirmed a strong commitment to aligning on critical areas related to credit and operational considerations.
Siemens has modernized over 5,200 buildings worldwide through its advanced green building systems, achieving more than EUR 1 billion in savings and lowering CO2 emissions by 10 million tons.
Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said: 'It [agreement] reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.'
Al Qassim added: 'By increasing our presence in the sustainability sector, Emirates NBD is well positioned to become the banking partner of choice to provide clients with access to the trusted, secure, and transparent financing solutions they need to drive continuous innovation and long-term success.'
Helmut von Struve, CEO of Siemens in the UAE, commented: 'Decarbonizing infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.'
In the three-month period that ended on 31 March 2025, Emirates NBD posted 7% year-on-year (YoY) lower net profits after tax at AED 6.21 billion, compared to AED 6.71 billion.
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