Environmental responsibility has been a critical part of the NBB Group strategy, the firm says
The NBB Group has completed the installation of solar panels across several physical locations in Bahrain. The group, which comprises the National Bank of Bahrain and Bahrain Islamic Bank (BisB), said locations such as NBB’s Istiqlal and Riffa Souq branches and BisB’s Arad and Hamad Town financial malls will now leverage a sustainable source of energy.
According to the group, the branches are expected to reduce their annual carbon emissions by 50%. The move is said to in be inline with the group’s efforts to adopt sustainable practices that go beyond its financial operations.
The group notes that it has set a benchmark within the banking sector through its four solar-powered branches, and reduced its overall carbon footprint tangibly.
In October 2021, NBB extended financing support to a new hospital to include the installation of solar panels.
“The solar panel project has been a continuous initiative led by the NBB Group to adopt environmentally friendly solutions, reiterating our commitment to reducing our carbon footprint and enhancing our energy efficiency. Our solar panel system produces more than 350kWp across the four branches, optimising both our energy consumption and costs,” said Group Chief Human Resources & Sustainability Officer Dana Buheji.
Buheji added, “We look forward to expanding the project to encompass a wider range of NBB and BisB locations, alongside realising the group’s strategy for future environmental and sustainable practices within the industry.”
Haitham Seyadi, Group Head of Property, Procurement and Administration at NBB concluded, “We are proud to showcase the progress made on our solar panel project across the group’s branches. Backed by a customer-centric approach, NBB Group continues to expand on its green initiatives with a promise to establish more environmentally driven projects. Through the positive results of our solar energy panels, we aim to increase awareness on the importance of ESG in the Kingdom by adopting such practices across our operations.”
In July 2022, Bahrain said it was evaluating prequalification bids for the $2bn Bahrain Metro project while, in August, Bahrain real estate transaction volumes were on a positive trajectory according to CBRE.