Emirates NBD, the leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has announced a SAR 100 million ESG-linked working Capital facility with Chalhoub Group, the Middle East’s largest luxury goods retailer and distributor.

United Arab Emirates, Dubai, 9th May 2024: Chalhoub Group announced the launch of its annual Sustainability Report for 2023. The verified report represents the Group’s 10th edition, prepared in accordance with the Global Reporting Initiatives (GRI) Standards Core while showcasing Chalhoub Group’s concerted efforts towards achieving its United Nations Sustainable Development Goals (SDGs).

Chalhoub Group, partner and creator of luxury experiences in the Middle East, is proud to join both Tryano, Abu Dhabi’s leading fashion and beauty destination, alongside RAMLA, Egyptian, female-founded brand to present a unique Ramadan handbag capsule collection, designed to make a positive impact by giving back to Dubai Cares, a UAE-based global philanthropic organization. 

The bilateral loan will support the region’s largest luxury retail operator’s growth ambitions and sustainability targets 

• Chalhoub Group to work with Schneider Electric to reduce Scope 3 greenhouse gas (GHG) emissions by 30% by 2032 and pave the way to net zero by 2040 
• Chalhoub Group suppliers will be provided a host of essential sustainability tools and trainings from Schneider Electric  

“UNITY FOR CHANGE” أفــــــــــــــــق

 

The taskforce represents the unity of major retail players for a shared commitment towards sustainability goals

New standards in environmental, social and governance (ESG) practices within the Middle East

Clear objectives for malls and retail operations, focusing on water consumption, air conditioning efficiency, use of clean energy, design and construction practices.