Ajman Bank unveils ambitious net zero strategy and AED4bln sustainable finance commitment
The comprehensive plan establishes clear milestones: achieving Net Zero for Scope 1 and 2 emissions by 2030, followed by full Net Zero status across all emission scopes – including the more challenging Scope 3 financed emissions – by 2050.
Alongside these environmental targets, the Bank has committed to channelling AED 4 billion into sustainable finance by 2030, reinforcing its position as a leader in Shari'ah-compliant sustainable investment.
This strategic initiative aligns with both the UAE's Net Zero 2050 Strategic Initiative and the Ajman Vision 2030, positioning the Bank at the forefront of the national transition towards a low-carbon economy while maintaining adherence to Islamic banking principles.
Ajman Bank Chief Executive Officer Mustafa Al Khalfawi said: "Our Net Zero strategy represents the convergence of our financial expertise and environmental responsibility. As custodians operating within the framework of Islamic finance, we recognise that true stewardship extends beyond financial assets to encompass our natural resources and environmental heritage.
'This strategy enables us to make meaningful contributions to the UAE's climate ambitions while creating sustainable value for our stakeholders."
Ajman Bank's Net Zero strategy is built on three pillars: decarbonising operations by 2030, addressing financed emissions by 2050, and driving AED 4 billion into sustainable finance. The Bank is advancing a bold, principles-led approach to climate action - backed by investments in clean energy, green buildings, water conservation, and low-carbon transport.
Additionally, the Bank will develop specialised Shari'ah-compliant green financial instruments to facilitate the transition to sustainable economic activities across various sectors.
Ajman Bank Head of Enterprise Project Management Office & ESG Zohaib Ali Zahid said: "We have developed a structured framework that integrates sustainability considerations into every aspect of our business model. This includes comprehensive emissions measurement protocols, strategic reduction initiatives and innovative financial product development.
'By establishing this robust infrastructure, we can ensure that our environmental commitments translate into tangible actions and measurable results, creating lasting value for our shareholders, clients and the broader community."
The announcement was made during a formal ceremony at Ajman Bank's headquarters, attended by distinguished members of the UAE Banks Federation (UBF) Sustainable Finance Committee and the Bank's strategic partners in sustainable development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
19 hours ago
- Gulf Today
Russia becomes first state to recognise Afghan Taliban rule
Afghanistan's government said that Russia had become the first country to officially recognise its rule, calling it a 'brave decision.' In a statement, the Russian Foreign Ministry said Moscow saw good prospects to develop ties and would continue to support Kabul in security, counter-terrorism and combating drug crime. It also saw significant trade and economic opportunities, especially in energy, transport, agriculture and infrastructure. 'We believe that the act of official recognition of the government of the Islamic Emirate of Afghanistan will give impetus to the development of productive bilateral cooperation between our countries in various fields,' the ministry said. The Russian foreign ministry also announced that it had received credentials from Afghanistan's newly appointed Ambassador Gul Hassan Hassan. Afghanistan's foreign ministry called it a historic step, and quoted Taliban Foreign Minister Amir Khan Muttaqi as welcoming the decision as 'a good example for other countries.' The Taliban swept back to power in 2021 after ousting the foreign-backed government and have imposed an austere version of Islamic law. The announcement was made after Afghanistan's Foreign Minister Amir Khan Muttaqi met with Russia's ambassador to Afghanistan, Dmitry Zhirnov, in Kabul on Thursday. 'This brave decision will be an example for others... Now that the process of recognition has started, Russia was ahead of everyone,' Muttaqi said in a video of the meeting on X. 'Russia is the first country which has officially recognised the Islamic Emirate,' Taliban foreign ministry spokesman Zia Ahmad Takal told AFP, using the government's name for their administration. Muttaqi said it was 'a new phase of positive relations, mutual respect, and constructive engagement,' the foreign ministry posted on X. Russia's foreign ministry added on Telegram: 'We believe that the act of official recognition of the Islamic Emirate of Afghanistan will boost the development of productive bilateral cooperation between our countries in several areas.' It highlighted potential 'commercial and economic' cooperation in 'energy, transportation, agriculture and infrastructure.' The ministry said that Moscow hoped to continue helping Kabul 'reinforce regional security and fight against the threats of terrorism and drug-trafficking.' China on Friday said it welcomed Russia's decision. 'As a traditional friendly neighbour of Afghanistan, the Chinese side has always believed that Afghanistan should not be excluded from the international community,' foreign ministry spokeswoman Mao Ning said. China does not officially recognise the government but hosts a Taliban ambassador in Beijing. It has said the Taliban government will need to introduce political reforms, improve security and mend relations with its neighbouring countries before receiving full diplomatic recognition. But on Friday, Mao said: 'No matter how the internal or external situation changes in Afghanistan, diplomatic relations between China and Afghanistan have never been interrupted.' 'The diplomatic institutions of the two sides in each other's countries have maintained their normal functioning and have played a positive role in promoting the development of relations between the two countries,' she added. Russia has taken recent steps to normalise relations with the Taliban authorities, removing them from a list of 'terrorist organisations' in April and accepting a Taliban ambassador in Moscow. In July 2024, Russian President Vladimir Putin called the Taliban 'allies in the fight against terrorism'. Russia was the first country to open a business representative office in Kabul after the Taliban takeover, and has announced plans to use Afghanistan as a transit hub for gas heading to Southeast Asia. This time, multiple other states, including China and Pakistan, have accepted Taliban ambassadors in their capitals, but have not officially recognised the Islamic Emirate since the end of the then-insurgency's two-decade war with US-led NATO troops. There has been limited but growing engagement with the Taliban authorities, particularly from regional neighbours, but also major global players China and Russia. Agence France-Presse
Arabian Post
21 hours ago
- Arabian Post
UAE's Amazon Bazaar Brings Budget Shopping to Mobile Shoppers
Arabian Post Staff -Dubai Amazon has unveiled a new mobile‑only shopping section called Bazaar within its Amazon. ae app in the UAE, delivering value‑focused products across fashion, home and lifestyle categories. Launching initially in beta for select users, the platform offers items priced mostly under AED 25, with some starting at just AED 4, alongside tiered savings, fast delivery, and a 15‑day returns policy. Stefano Martinelli, Vice‑President of Amazon MENA, said Bazaar is meant to be 'fun and effortless to browse', offering the trusted reliability of Amazon combined with surprising value. A launch‑month promotion grants shoppers a 25 per cent discount across all Bazaar purchases in July. ADVERTISEMENT Accessible via the 'Bazaar' icon in the Amazon. ae app or by searching 'Bazaar', the platform also supports browsing on mobile web at amazon. ae/bazaar. Desktop users must scan a QR code in the browser to open the feature within the app. Bazaar has its own search, cart and checkout system, distinct from the main Amazon experience. The interface is vibrant and purpose‑built for quick deal discovery. The platform integrates reviews and star ratings to aid user decisions. Delivery is standard across Amazon Bazaar accounts: orders above AED 90 qualify for free shipping and typically arrive within 6–12 days. Returns are free within 15 days for most products. Beyond initial price advantage, Bazaar encourages bulk purchases with automatic discounts: 5 per cent off orders over AED 150, and 10 per cent off for orders over AED 300. Combined with the launch‑month 25 per cent promotion, savings can accumulate significantly. In the UAE's booming e‑commerce environment—forecast to exceed US$ 13.8 billion by 2029—Bazaar positions Amazon to capture more bargain‑seeking consumers, complementing existing daily‑need offerings. Dharmesh Mehta, Vice‑President at Amazon, referred to the local variant as Amazon Bazaa r or 'Amazon Haul' as in other markets, noting its alignment with prior launches in the US, UK, Germany and Saudi Arabia. Gulf Business, Khaleej Times, What's On, Times of India and Arabian Business all report that Bazaar has launched in the UAE over the past week, emphasising its mobile‑first approach and bargain pricing. Analysts say the platform could strengthen Amazon's value proposition in the region and give competitors like Noon, Carrefour, and Mumzworld a run for their money in the low‑cost segment. Bazaar's playful app interface—especially its 'crazy‑low' deals and under‑AED 25 'super savers' sections—appeals to price‑sensitive shoppers.
Web Release
a day ago
- Web Release
Line Investments & Property Concludes UAE's Biggest Summer Shopping Carnival with Exciting Car Giveaways
Line Investments & Property SP LLC, the shopping mall development and management arm of Lulu International Holdings Ltd, has successfully concluded the much-anticipated Summer Shopping Carnival, a dynamic month-long festival that transformed the retail experience across 12 malls in Abu Dhabi, Al Ain, and Al Dhafra. The Summer Shopping Carnival offered visitors 31 days of exclusive promotions, global-themed experiences, cultural activations, live entertainment, and the chance to win exceptional prizes. Shoppers who spent AED 200 or more had the opportunity to enter two types of draws: a digital raffle draw to win brand-new Chevrolet Spark EUV vehicles presented by Bin Hamoodah Auto, and a physical raffle draw to win all-inclusive travel packages from Nex World Travel and Tourism LLC. These exciting prize opportunities added another layer of engagement and anticipation to the festival experience. Throughout the campaign, each participating mall brought unique cultural celebrations to life. Al Wahda Mall, Al Raha Mall, and Mushrif Mall highlighted vibrant European festivals, while Al Foah Mall and Al Falah Central Mall celebrated the rich heritage of the UAE and GCC. Khalidiyah Mall presented an immersive Egyptian theme, and Madinat Zayed Shopping Centre showcased colorful Chinese traditions. Forsan Central Mall and Barrari Outlet Mall brought to life the spirit of Middle Eastern culture, while Mazyad Mall and Al Dhafra Mall offered a captivating blend of Asian and Middle Eastern experiences. Shawamekh Central Mall also participated in the campaign. The initiative underscored the company's commitment to creating immersive experiences that connect communities and celebrate diversity. The highlight of the carnival was the announcement of the winners of the coveted Chevrolet Spark EUVs. Over four weeks of draws, Ahammed Paramban, Ayisha Ali, Sayed Kamaluddin, Mahmoud, and Ahmed Farouk Mohammed Ahmed were among the lucky shoppers whose visits turned into life-changing moments as they won brand-new vehicles. Commenting on the success of the campaign, Wajeb Al Khoury, Director of Line Investments & Property, stated, 'The Summer Shopping Carnival has once again demonstrated our dedication to delivering vibrant, rewarding experiences that bring people together. We are proud to see the excitement and joy this initiative has created, not only for our winners but for all the visitors who joined us to celebrate culture, community, and innovation.' Biju George, General Manager of Line Investments & Property, added, 'The response to the Summer Shopping Carnival has been truly inspiring. Our vision was to create a destination where families could enjoy rewarding experiences beyond traditional retail, and the overwhelming participation shows how much our communities value these shared moments. We look forward to continuing to elevate the shopping journey across all our malls.' Ayman Al Bijawi, Director of Sales & Marketing at Bin Hamoodah Auto said, 'Partnering with Line Investments & Property on this landmark campaign has been a fantastic opportunity to showcase the Chevrolet Spark EUV and connect with customers in meaningful ways. Seeing the excitement on the winners' faces as they received their new vehicles was a powerful reminder of the impact such initiatives can have.' Mohammed Yahya, Chairman of Nex World Travel and Tourism LLC, said: 'This partnership with Line Investments & Property has provided exceptional exposure to thousands of potential customers throughout their extensive mall network. We're thrilled to offer these international travel packages to destinations worldwide, and seeing the excitement of winners heading off to amazing locations has been incredibly rewarding.' The Summer Shopping Carnival reflects Line Investments & Property's vision to redefine the shopping centre experience through experiential retail and strategic collaborations, setting a benchmark for engaging and value-driven campaigns in the region.
