SNB’s Sustainable Finance Framework consists of four main pillars: promoting sustainable financing; preserving the environment; empowering individuals and communities, and promoting principles of ethical governance. Saudi National Bank (SNB), the largest banking group in the Kingdom of Saudi Arabia, has become the first commercial banking group in the Kingdom to establish a Sustainable Finance Framework, with HSBC acting as sole ESG structuring agent. SNB’s framework reaffirms the bank’s commitment to support the Kingdom’s broader development agenda through Vision 2030 and the Saudi Green Initiative. HSBC is recognised as a global leader in ESG financing with a dedicated ESG Solutions Unit providing clients with ESG-related advice and strategies. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.

Source: The North Africa Journal January 03, 2022 10:28 UTC