In recognition of its ongoing efforts to enhance and develop its commitment to best sustainability practices, Forbes Middle East has ranked Alinma Bank’s CEO, Abdullah Ali AlKhalifa, among the "Sustainability Leaders in the Middle East for 2024."
On this occasion, CEO Abdullah Ali AlKhalifa stated that this achievement solidifies the bank's dedication to sustainability and reflects its deep commitment to aligning its operations with global sustainability standards. It also strengthens Alinma Bank’s leadership position in promoting responsible banking practices and supports the achievement of Saudi Vision 2030.
Notably, Alinma Bank launched its sustainability strategy in 2023 and introduced its sustainable financing framework at the beginning of 2024. The bank's sustainability strategy is based on six key pillars that encompass 15 ambitious goals, with over 120 initiatives implemented to date. The bank has made significant strides in supporting local suppliers, achieving a local contracting rate of 77.4% of total supplier transactions in 2023. Furthermore, it has made considerable progress in reducing its environmental footprint, cutting greenhouse gas emissions (Scope 1 and 2) by 21.9% and water consumption by 8% compared to 2022. The bank has also implemented smart building systems in 76 branches and completed the establishment of digital zones in 108 branches, alongside the installation of solar energy systems in 58 branches. In 2023, Alinma Bank financed sustainable projects worth $29 billion, accounting for 8.3% of its portfolio, further solidifying its leadership in sustainable financing.
In addition to this recognition, Alinma Bank has been honored for its role as a key founding partner of the “Green Hydrogen” project in NEOM, one of the largest renewable energy projects in the world. These efforts align with the bank’s commitment to achieving positive environmental, social, and governance outcomes.