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Annual Report 2021

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ESG
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In 2021, SABB has continued positioning environmental, social and governance (ESG) activities at the heart of its business and operations.

ESG milestones in 2021

Led the establishment of the Saudi banks’ ESG working group under the guidance of the Saudi Central Bank (SAMA)

First Saudi Bank to achieve zero single-use non-recycled plastic bottles across offices

Issued first green loan in KSA

Launched first Climate Change Equity Fund in KSA

Female ratio

Nearly 40% in the Executive Management team

Over 13% in senior management positions

Implemented Bank-wide training guidelines for ESG and Sustainability

Market-leading community engagement through SABB’s established programmes

New products and recognition for ESG commitment

Innovative sustainable finance products

Sustainability linked loans for our corporate customers

SABB participated as a mandate lead arranger for the Red Sea giga-project financing (contributing SAR 2.9 bln), the first green loan in Saudi Arabia. We also supported the Sudair Solar Power project with SAR 300+ mln financing aligned with the Kingdom’ efforts towards sustainability.

Treasury green deposits

SABB made its first placement of a green deposit in Saudi Arabia with HSBC Middle East counterpart with a total value of AED 25 mln. Moreover, Treasury concluded a green Sukuk with a total value of USD 25 mln.

HSBC Global Equity Climate Change Fund

In partnership with HSBC Saudi Arabia, SABB were the first to launch in-country access to an ESG focused investment, generating positive environmental benefits and attractive financial returns

Green deposits for retail customers

SABB was the first bank in Saudi Arabia to offer a Shariah-compliant ESG-focused green deposit, allowing depositors to contribute their excess funds directly toward funding of Green

SABB’s future ambition on ESG

In 2022, we will seek to make ESG commitments in the following core areas

Products and services

We are committed to expanding our sustainable finance products and services across our client and customer base.

People

At the core of our ESG commitment is ensuring that all our Staff receive appropriate and applicable ESG training and development.

Organisation

A priority in 2022 is to fully integrate ESG into existing governance and risk management frameworks.

Stakeholders

Ensuring that our external Stakeholders are kept informed of SABB’s progress on ESG and important non-financial issues, we are committed to putting in place certain actions that will facilitate this, particularly relating to external reporting.