Emirates NBD facilitates Sidara’s first sustainability-linked finance

Emirates NBD facilitates Sidara’s first sustainability-linked finance

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has partnered with Sidara, a global collaborative of specialist architecture, engineering and consulting brands, to arrange a $50 million Sustainability Linked Loan (SLL). Aligning Sidara’s financial strategy with its sustainability objectives, this strategic move marks Sidara’s first SLL and positions the company as one of the first movers to enter the green finance market in the region. The new loan structure ties financial incentives to Sidara’s sustainability performance, encouraging the company to adopt more responsible and more sustainable operational practices. The proceeds of the loan will fund Sidara’s working capital requirements and will prominently include allocations dedicated to supporting Sidara’s transition towards net zero operations, in line with its global commitment to the World Green Building Council’s Net Zero Buildings Commitment as well as the UAE Pledge for Net Zero. Pri McNair, Group Co-Head of Coverage at Emirates NBD, commented, “By supporting Sidara in transitioning their regional operations and service offerings towards greater environmental sustainability, Emirates NBD is once again showing that it is at the forefront of driving significant change, both in propelling clients’ growth towards more environmentally friendly financial practices, and also