UNB first bank in region to achieve Level A+ GRI rating on its inaugural sustainability report
- United Arab Emirates: Tuesday, October 23 - 2012 at 16:03
- PRESS RELEASE
UNB launched its inaugural Sustainability Report and became the first bank in the region to achieve a Level A+ rating certified by the Global Reporting Initiative (GRI). The Sustainability report is part of UNB's CSR strategy of embarking on an ambitious sustainability drive within the organization.
UNB's sustainability report has been developed using the Global Reporting Initiative (GRI) G3 Guidelines, the most internationally recognized and used sustainability reporting framework.
UNB achieved a GRI level A+ for transparency and disclosure being the only bank in the region to obtain an A+ level. The Report was provided independent assurance validation by Ernst & Young, who were engaged to provide a limited assurance engagement on the completeness and accuracy of selected sustainability information related to Sustainability Key Performance Indicators presented in the Report.
UNB used the services of an International consultant, M/s Sustainability Excellence based out of Jordan to help draft the Sustainability Report and to help co-ordinate with the submission of the Report to GRI for certification.
The Sustainability Key Performance Indicators (KPIs) which have been identified will be monitored and a measuring and reporting framework will be adopted to track the performance of UNB on these KPIs to ensure the integrated management of economic, environmental and social performance to create maximum value for all stakeholders. The sustainability action plan will also be integrated into UNB's core strategic and annual operating plan.
Mr. Mohammad Ali, SVP & Head of Group Communications & Strategic Relations at UNB, commented, "It is my pleasure to launch UNB's first sustainability report, a key milestone in our long record in investing on sustainable management practices. We believe that by launching this baseline sustainability report, we are responding to our stakeholders' needs and expectations on higher levels of transparency and accountability, while committing publicly to a set of initiatives that will guide us towards achieving our mission to deliver superior customer service, grow market share and shareholder value and establish the Bank as the employer of choice in the UAE. Furthermore, this report also demonstrates our commitment and alignment to Abu Dhabi's overall sustainability agenda and to the Abu Dhabi Vision 2030."
Sustainability Management represents a new framework for conducting business more responsibly. Changes in consumer behavior and customer awareness are raising the flag for more transparency in the way companies are conducting their business and it is important that we, as a bank and as a catalyst for development, understand the risks related to these changes and turn them into opportunities.
By embedding sustainability management into our organizational performance and culture as "the Bank that cares", we are aiming to position UNB as the best in class for the banking industry in the UAE, added Mr. Mohammad Ali.
Believing and committing to Sustainability Management is fundamental to ensure quality service to all UNB stakeholders. This report is yet another testimonial to UNB's adherence towards sustained management excellence and quality performance.
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