Latest news with #EnvironmentalandSocialManagementSystem
Time of India
19 hours ago
- Business
- Time of India
Aditya Birla Capital raises Rs 1,301 cr in debt from AIIB to advance sustainable infra financing
Beijing-based multilateral funding agency Asian Infrastructure Investment Bank ( AIIB ) has subscribed to Rs 1,301.25 crore of Non-Convertible Debentures (NCDs) issued by Aditya Birla Capital Ltd . The investment, structured as a privately placed, three-year NCD issuance, aims to accelerate financing in the renewable energy and e-mobility sectors to support India's transition toward a sustainable infrastructure ecosystem, Aditya Birla Capital Ltd (ABCL) said in a statement. As part of this strategic collaboration, AIIB has also supported ABCL in enhancing its Environmental and Social Management System (ESMS), aligning it with AIIB's Environmental and Social Framework (ESF) to ensure robust environmental and social governance in sub-projects, it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like [Click Here] 2025 Top Trending local enterprise accounting software Esseps Learn More Undo This investment aligns with India's Nationally Determined Contributions (NDCs) under the Paris Agreement and supports government-led initiatives such as the National Infrastructure Pipeline and Renewable Energy Targets, it said. It underscores AIIB's ongoing efforts to build resilient and sustainable infrastructure ecosystems across Asia through trusted partnerships with leading financial intermediaries, it added.
Zawya
15-04-2025
- Business
- Zawya
National Finance signs strategic partnership with International Finance Corporation
Muscat: Reaffirming its resolute commitment to the country's sustainable development goals, National Finance, the Sultanate of Oman's leading finance company, has entered a landmark partnership with the International Finance Corporation (IFC), a member of the World Bank Group. This pivotal collaboration was formalized during a signing ceremony held on the World Bank Group Day in Muscat, Oman, marking the successful finalization of key agreements between the two institutions. This partnership underscores National Finance's growing role in driving the transition towards a greener economy, aligning with Oman Vision 2040. IFC's $120 million loan for sustainability projects will enable the company to expand its sustainable finance portfolio, with a focus on electric vehicle (EV) financing, green finance offerings, renewable energy projects. By embedding sustainability across its operations, National Finance continues to play a vital role in supporting the nation's broader environmental agenda, delivering impactful financial solutions that contribute to a low-carbon future. Speaking on the occasion, Mr. Tariq Sulaiman Al Farsi, Chief Executive Officer at National Finance said, 'This partnership with IFC is both a recognition and reinforcement of our sustainability journey. By joining forces with a world-renowned institution, we are accelerating the implementation of our green finance initiatives and creating long-term value for our stakeholders and the communities we serve. It is a significant step in our mission to foster sustainable economic progress in the Sultanate of Oman.' With this investment, IFC, as the largest global development institution focused on the private sector in emerging markets, aims to share its capital, expertise, and influence to advance sustainable finance in Oman. Momina Aijazuddin, IFC's Regional Head of Industry, added, "Small and medium enterprises may be modest in size, but their impact is profound. They are every economy's growth engine. With this in mind, this $120 million investment represents a significant milestone for Oman—our first in the country's non-bank financial sector in nearly two decades. Beyond enhancing the resilience of the financial market, this transaction aims to advance sustainability by empowering businesses to spearhead climate-related projects from the ground up." The partnership also validates National Finance's sustainability framework, which is geared towards contributing to sustainable economic growth, strengthening communities, and reducing environmental impact. These goals are driven through four strategic pillars—Environment, Social, Operations, and Governance—underpinned by initiatives such as the Green Campus Programme, and the introduction of green auto finance for EVs as well as solar energy and paper recycling bins. Further reinforcing its ESG architecture, National Finance has also established a dedicated Environmental and Social Management System (ESMS), which introduces a standardized procedure for ESG due diligence across all projects. The effective delivery of this strategy is supported by critical success factors, including robust policies, continuous capacity building, and proactive stakeholder engagement. Complementing these are efficient systems for ESG performance tracking and a strong focus on governance, accountability, and leadership to embed sustainability into every level of decision-making. Ensuring alignment across the organization is National Finance's cross-functional Sustainability Taskforce, which is overlooked by the Head of Sustainability and reports to the CEO. The Head, accountable for ESG matters, reports directly to the CEO, who, in turn, ensures Board-level oversight of all sustainability initiatives. This structure facilitates the seamless integration of ESG practices across departments. As the nation accelerates its pursuit of climate goals and economic diversification, National Finance's alliance with IFC embodies a forward-looking strategy—leveraging global expertise to deliver resilient financial solutions that meet evolving market needs and address critical environmental imperatives.
