BAB Ignites Change: Unveiling a Trailblazing ESG Awareness Campaign

The Bahrain Association of Banks (BAB) is set to launch an extensive awareness campaign, endorsed by BBK and the Eskan Bank, to promote Environmental, Social, and Governance (ESG) standards in the banking and financial sector.

The initiative underscores the significance of these standards in advancing sustainability and corporate social responsibility, urging financial institutions to integrate them into their operations. Collaboration with various stakeholders in both the public and private sectors is a key component of this endeavor.

As part of the comprehensive ESG awareness campaign, BAB is orchestrating a series of events, including educational sessions and workshops for bank employees. These activities are designed to enlighten them on the significance of sustainability and their pivotal role in its realization. Additionally, the campaign involves the dissemination of awareness videos and messages across social media platforms, with the aim of fostering awareness among the general public and motivating them to embrace sustainable practices in their daily lives. Furthermore, a distinctive marathon tailored for the banking sector will be also organized to serve as a recreational activity to promote awareness of sustainability.

Since 2017, BAB has established a permanent committee aimed at providing recommendations for sustainable financing within the Bahraini banking sector. Over 17 banks and financial institutions actively participate in this committee which has successfully organized awareness sessions featuring international speakers. One of the committee’s notable outcomes is the heightened awareness of sustainable finance within the banking sector and the formulation of a public policy framework.

Collaborating with the government, BAB has played a crucial role in developing a stimulus mechanism and credit support program. This initiative is specifically designed to enable banks to finance renewable energy projects, marking a distinctive achievement in the region. This groundbreaking effort has garnered international acclaim, with calls to adopt the mechanism as a model for emulation.

Dr. Waheed Al Qassim, CEO of Bahrain Association of Banks, commented: “The launch of this campaign exemplifies our strong dedication to fostering social responsibility among banks and financial institutions in Bahrain. We assert that ESG standards are not solely confined to environmental concerns; rather, they play a pivotal role in ensuring business sustainability while simultaneously enhancing transparency and trust within the banking sector.”

Dr. Al Qassim added: “In order to achieve these goals, The Bahrain Association of Banks is actively engaged in furnishing essential resources and training to augment awareness and knowledge of ESG standards within the banking sector. This involves the organization of workshops and awareness seminars, creating platforms for participants to exchange experiences and ideas. Additionally, the Association is dedicated to providing educational and guidance resources, thereby contributing to the enhancement of employees’ understanding of ESG principles and their effective application in day-to-day work.”

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top