Century Financial joins UN Global Compact Network UAE, Climate Ambition Accelerator 2024

Century Financial has announced its participation in the United Nations Global Compact Network UAE (UNGC UAE) and Climate Ambition Accelerator 2024. This milestone highlights Century Financial's commitment to sustainability and aligns with its strategic goal to achieve net zero emissions.

As one of the first investment companies in the UAE to take significant steps in monitoring greenhouse gas (GHG) emissions, Century Financial has set a benchmark for the industry. Key milestones in Century Financial's net zero journey include:

• Comprehensive GHG Emissions Monitoring: Implemented state-of-the-art AI and ESG tools to accurately measure and report GHG emissions across all operations.

• Sustainable Investment Initiatives: Launched several green investment funds and sustainable financial products, promoting eco-friendly investments.

• Energy Efficiency Programmes: Upgraded facilities to enhance energy efficiency, reducing the company's carbon footprint substantially.

• Employee Engagement: Fostered a culture of sustainability through comprehensive training programmes and initiatives, encouraging employees to contribute to the company's environmental goals.

The four-month Climate Ambition Accelerator programme is designed to equip companies with the knowledge and skills to accelerate progress towards setting science-based emissions reduction targets aligned with the 1.5°C pathway, setting them on a path towards net zero emissions by 2050. Companies will gain access to global best practices, peer-to-peer learning opportunities, practical activities, capacity-building sessions, and on-demand training. This will help Century Financial take a lead towards a net-zero future.

As participants of the UNGC, Century Financial commits to implementing the Ten Principles of the UN Global Compact in the areas of human rights, labour, environment, and anti-corruption, and to report its progress on these efforts annually. The organisation will benefit from access to the UNGC’s extensive tools and resources to engage with its employees across the globe and improve their learning and training in Sustainability.

“Joining the United Nations Global Compact and participating in the Climate Ambition Accelerator 2024 is a significant step for Century Financial,” said Bal Krishen, Chairman and CEO of Century Financial. “It reflects our deep commitment to sustainability and our proactive approach to addressing climate change. We are dedicated to integrating these principles into our business strategy and operations, leading the way for a sustainable future in the financial industry.”

Sameera Fernandes, CSO and Board Member of Century Financial, further added, “The Climate Ambition Accelerator will help us take a deep dive into GHG best practices, emissions accounting methodologies, and strategies. It will enable us to take steps to improve a comprehensive GHG emissions inventory. It is crucial for the financial sector to gear up and walk the talk, demonstrating genuine commitment to sustainability and climate action.”

Joëlle Jammal, Executive Director of the UNGC UAE, commended Century Financial’s efforts: “We are thrilled to welcome Century Financial to the United Nations Global Compact Network UAE. Their dedication to sustainability and their proactive steps towards achieving net zero emissions are exemplary. We look forward to supporting their journey and witnessing the positive impact they will continue to make in the financial sector and beyond.”