NBB appoints NRG committee

MANAMA: National Bank of Bahrain (NBB) has appointed its Nomination, Remuneration, and Governance (NRG) committee to be responsible for overseeing sustainability integration within the bank’s business and operations.

The NRG, which is responsible for areas of nomination of the board members, remuneration and compensation to the workforce and executive management, as well as governance of the bank, has elected to add the responsibility of overseeing the bank’s Environmental, Social and Governance (ESG) journey towards long term sustainability.

The board committee has updated its charter to include sustainability amongst its existing responsibilities, which further showcases its commitment towards enhancing the banking experience by promoting and integrating sustainable solutions across its business conduct and operations.

As a result, the committee has now been renamed as the Nomination, Remuneration, Governance, and Sustainability Committee.

NBB chairman Farouk Almoayyed said: “We remain committed to corporate sustainability, embedding and systematically managing environmental, social and governance risks and opportunities in all aspects of our business.”

Yusuf Alireza, director and member of the NRGS Committee, said: “The decision to include sustainability at the board level resonates strongly with the bank’s efforts of creating a positive impact and becoming part of the solution. We are taking the necessary steps to educate, implement and adjust as we move forward towards a more sustainable future.”

The committee will oversee different areas of significance within the bank’s three-year sustainability roadmap, and will function as the highest governing body that ensures continuous commitment through periodic reporting of performance against key measurable indicators set by the bank.

Source: https://www.gdnonline.com/Details/944063/NBB-appoints-NRG-committee