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The partnership will prioritise energy efficiency projects that support the UAE’s Net Zero by 2050 Strategic Initiative. Dubai-headquartered banking group Emirates NBD and German technology giant Siemens have entered into a strategic agreement to finance green infrastructure projects in the UAE. The collaboration prioritises energy efficiency projects by leveraging advanced technologies to support the UAE’s decarbonisation targets and Net Zero by 2050 Strategic Initiative, a press statement issued by Emirates NBD said. This collaboration is supported by a tailored credit framework and an innovative suite of financing tools designed to support green projects from installation through their entire lifecycle, the statement noted, adding that the deal structure is designed to serve as a replicable model for future initiatives. Siemens has modernised more than 5,200 buildings worldwide through its green building systems, achieved savings exceeding €1 billion and reduced carbon dioxide emissions by over 10 million tonnes, according to the press statement. |
