Sustainability
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Sustainability
Advancing sustainability: strategy, implementation, and impact at Alinma Bank
Alinma Bank is committed to fulfilling its corporate responsibility as a leading financial institution in the Kingdom of Saudi Arabia. By embedding a sustainability focus within our strategy, business operations, and corporate culture, we ensure that every employee, partner, and Stakeholder is aware, aligned, and active in pursuing our shared sustainability ambitions.
Sustainability at Alinma Bank is overseen and led by the Governance and Sustainability Committee of the Board of Directors. It is headed by the Vice Chairman of the Board and includes 4 members. This approach ensures clear direction and effective governance, contributing to Alinma Bank’s overall success, reputation, and positive societal impact.
In 2023, we made significant strides in our commitment to sustainability. We launched a comprehensive sustainability strategy, reflecting our dedication to environmental and social responsibility
To effectively manage and execute our sustainability strategy, we established specialized departments, namely the Sustainability Department and the Corporate Social Responsibility (CSR) Department. These departments played a crucial role in overseeing our sustainability and CSR initiatives to leverage our scale, focus our resources, and maximize our positive impact.
Furthermore, we made notable progress in our Environmental, Social, and Governance (ESG) ratings. This progress demonstrates our ongoing commitment to integrating sustainable practices into our operations and highlights our dedication to being a responsible and forward-thinking financial institution.
Our sustainability strategy
Our sustainability strategy was developed with a thorough review of several critical aspects to ensure a comprehensive and effective approach. We conducted an in-depth analysis of our current position and the future objectives we aim to achieve, which was crucial in aligning our sustainability efforts with our long-term goals and aspirations.
Our strategy also closely aligns with the national directives, particularly Saudi Vision 2030 and the Saudi Green initiative, reflecting our commitment to contributing to the nation’s sustainable development goals. We also incorporated the United Nations Sustainable Development Goals (UN SDGs) into our strategy, affirming our dedication to global sustainability standards.
Understanding the importance of staying in line with global trends, our strategy also takes into account the broader global directions related to sustainability and climate change actions. This ensures that our approach is locally relevant and globally responsive.
Lastly, in developing our sustainability strategy, we benchmarked Alinma Bank against our local, regional, and international peers. This benchmarking process was instrumental in ensuring that our approach is both competitive and in line with best practices in the industry.
Our sustainability efforts are structured around 6 main pillars, encompassing 15 goals. This comprehensive approach led to the implementation of over 120 initiatives, indicating a robust and wide-ranging commitment to sustainability. Our balanced approach to sustainability management addresses a range of issues, ensuring that our efforts contribute to both social and environmental well-being, as well as providing a competitive edge as a leading financial institution in the Kingdom.
The 6 pillars of Alinma Bank's sustainability strategy are:
1
Accelerate sustainable finance
2
Foster environmental stewardship and enable a circular carbon economy
3
Empower our customers
4
Creating a thriving workplace
5
Strengthen our communities and contribute to greater financial inclusion
6
Robust governance and responsible operations
Materiality
Our sustainability efforts are structured around 6 main pillars, encompassing 15 goals. This comprehensive approach led to the implementation of over 120 initiatives, indicating a robust and wide-ranging commitment to sustainability
Most important
- 1 Responsible customer relations and satisfaction
- 2 Talent attraction, retention, and development
- 3 Diversity and inclusion
- 4 Digitalization and innovation
- 5 Governance, accountability, transparency, and ethics
- 6 Systemic risk management
More important
- 7Employee engagement and well-being
- 8Financial inclusion and accessibility
- 9Data privacy and cybersecurity
- 10Financial and economic performance
- 11Sustainable/green financing and investment
Important
- 12 Operational environmental impact
- 13 Supply chain management and responsible procurement
- 14 Social development and community engagement
- 15 Nationalization
Alignment with regional and international standards
The UN SDGs were reviewed in order to consider Alinma Bank’s alignment with the world’s global goals and visions. The Saudi Vision 2030 was reviewed to consider strategic alignment opportunities for Alinma Bank. This included a review of more specific financial sector development programs of the Saudi Government.
The Saudi Exchange ESG Disclosure Guidelines – a guide for listed companies to help navigate ESG, were reviewed.
Global sustainability standards, and especially sector specific guidelines and standards, were applied to ensure a tailored materiality assessment including:
- Global Reporting Initiative
- Principles for Responsible Banking
- Sustainability Accounting Standards Board (SASB)
- World Federation of Exchanges






2023 ESG highlights
In 2023, Alinma Bank demonstrated a strong commitment to ESG principles, marking a year of substantial progress across these crucial areas. Our ESG highlights showcase our dedication and strategic approach to sustainability, social responsibility, and robust governance practices across our operations and footprint.