Emirates NBD launches UAE's first transition finance framework for hard-to-abate sectors

Emirates NBD has introduced the UAE's first dedicated transition finance framework, aimed at helping companies in high-emitting industries secure funding as they shift to lower-carbon operations. The framework covers sectors like manufacturing, mining, power, energy, real estate, transportation, agriculture, and IT, where decarbonisation is difficult and capital-intensive. The bank says the framework provides a consistent methodology for identifying and labelling eligible transition activities, based on international standards like the ICMA Climate Transition Finance Handbook and the LMA Guide to Transition Loan Finance. DNV Assurance has given a second-party opinion on the framework. Emirates NBD has set a target to mobilise USD 30 billion in sustainable and transition finance by 2030, supporting the UAE Banking Federation's AED 1 trillion ambition. This move gives corporate clients clearer guidance on funding for emissions cuts, efficiency gains, and cleaner technologies.