Saudi Awwal Financial institution (SAB) introduced its membership to the Partnership for Carbon Accounting Financials (PCAF), cementing its place as considered one of Saudi Arabia’s most progressive monetary establishments within the transition to a sustainable, low-carbon financial system.
The membership represents a big milestone in SAB’s sustainability journey and displays the Financial institution’s dedication to accountable banking aligned with Saudi Imaginative and prescient 2030 and the Saudi Inexperienced Initiative.
PCAF is a world collaboration of economic establishments enabling harmonised measurement, administration, and disclosure of greenhouse gasoline (GHG) emissions related to lending and funding portfolios. With over 700 member establishments spanning six continents throughout North America, Latin America, Europe, Africa and Asia-Pacific, PCAF membership locations SAB throughout the main tier of climate-conscious monetary establishments worldwide.
This membership displays SAB’s dedication in the direction of combating local weather change as a part of its strategic give attention to sustainability. Via this membership, SAB may have entry to an internationally acknowledged methodology that may help the evaluation of financed emissions throughout related portfolios and strengthen the Financial institution’s inner strategy to climate-related evaluation and decision-making.
For SAB, becoming a member of PCAF represents a further step within the Financial institution’s broader sustainability agenda and helps the continued integration of local weather issues into banking actions in a way aligned with evolving market apply and institutional priorities.
Faten Abalkhail, Chief Governance and Company Affairs Officer, at SAB, commented: “Becoming a member of PCAF displays SAB’s dedication to strengthening the way in which local weather issues are embedded in banking choices. By measuring financed emissions, we shall be higher positioned to evaluate portfolio-level local weather publicity, help our shoppers of their transition plans, and contribute meaningfully to Saudi Arabia’s net-zero ambitions. This is a vital step in constructing credible, data-driven local weather motion throughout the monetary sector.”
SAB’s PCAF membership builds on the Financial institution’s broader local weather and ESG agenda, together with its work to combine climate-related issues into related banking processes, portfolio evaluation, and shopper engagement.The Financial institution has been a key participant of sustainable capital markets within the Kingdom, issuing a Inexperienced Sukuk and a Inexperienced Bond in 2025.
About SAB:
Saudi Awwal Financial institution (SAB) is among the largest banks within the Kingdom, with a historical past in Saudi Arabia spanning over 90 years. Over the previous 9 many years, it has been an lively associate in supporting the Kingdom’s financial progress and social improvement.
SAB is a number one company and institutional worldwide financial institution within the Kingdom with a high Wealth & Private Banking proposition. SAB can be a pacesetter in commerce finance, overseas alternate, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader area.
SAB affords built-in monetary and banking providers, together with company banking, funding, personal banking, and treasury. The financial institution’s paid-up capital is SR 20.5 billion, following its authorized merger with Alawwal Financial institution on 14th March 2021, when it was previously referred to as the Saudi British Financial institution (SABB). SAB operates beneath the supervision and regulation of the Saudi Central Financial institution, and is a associate of the HSBC Group.
About PCAF:
The Partnership for Carbon Accounting Financials (PCAF) is an industry-led world initiative enabling monetary establishments to evaluate and disclose the GHG emissions financed via their loans and investments. The PCAF World GHG Accounting and Reporting Normal for the Monetary Business supplies a harmonised strategy to financed emissions measurement and is recognised beneath the Science Primarily based Targets initiative (SBTi).
