Arab Bank is the first bank in Jordan to adopt a framework for sustainable finance

Al - Anbat Abdullah Dabash 

The Arab Bank recently launched a Sustainable Finance Framework which aims to support the Bank's sustainability orientations and the Bank's environmental, social and governance (ESG) priorities.

The Arab Bank is the first bank in the Kingdom to launch and adopt such a framework, which is in line with the four main elements of the principles of Green Bonds 2021 (GBP) Community Bond Principles 2021 (SBP) and Sustainability Bond Guidelines 2021 (SBG) launched by the International Capital Markets Association (ICMA) Along with the Principles of Green Loans 2021 (GLP) and the Principles of Social Loans 2021 (SLP) launched by the LMA.

The Arab Bank's Sustainable Financing Framework has been evaluated by the World Ratings Agency Standard and Poor's (S&P), which has confirmed its compatibility with the above principles.

The Bank will build on this framework as a basis for sustainable debt instruments geared towards financing projects that will contribute to addressing the challenges of climate change and Job creation in addition to supporting the achievement of the United Nations Sustainable Development Goals (SDGs).

Commenting on the launch of the Sustainable Financing Framework, Ms. Randa Al-Sadiq, Executive Director of the Arab Bank, said: "We are pleased to launch the Arab Bank's Sustainable Financing Framework, whose compatibility with global principles and guidelines in this area has been assessed by the World Classification Agency S&P. "

Al Sadiq added: "This step represents a significant achievement in the Bank's sustainability process, This reflects our direction to further integrate environmental, social and governance standards into our work and to continue to have a positive impact at the Kingdom, the region and wherever we exist. "

It is worth mentioning that the Arab Bank was the first bank in the Kingdom, Among the region's first banking institutions to launch annual sustainability reports in accordance with global principles and best practices.