Ajman Bank Leads the Way in Sustainable Banking with Significant Carbon Cut

Ajman Bank PJSC, a prominent Islamic financial institution in the UAE, has entered into a new agreement with Positive Zero. This partnership aims to achieve significant cost and carbon footprint reductions. By adopting Positive Zero's energy efficiency solutions at their headquarters, Ajman Bank anticipates a 28% reduction in energy costs and an annual decrease of 752 tons in carbon dioxide emissions, equivalent to planting 11,300 trees.

Energy Efficiency Measures

The project is structured around a 10-year Shared Savings Energy Performance Contract (SSEPC) managed by Taka Solutions, Positive Zero's energy efficiency division. This contract includes eight tailored energy efficiency measures (EEMs) for Ajman Bank's facilities, aligning with their strong commitment to environmental sustainability.

Positive Zero's approach involves providing financing, implementation, long-term operations, and proactive maintenance of the project's measures. Their model of decarbonization-as-a-service requires no upfront investment from customers. This makes it easier for organizations to adopt sustainable practices through integrated clean energy and efficient technologies.

Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, stated: "Our strategic partnership with Positive Zero marks a significant milestone in our journey towards sustainability and operational excellence. This collaboration underscores our commitment to innovation and environmental stewardship, reflecting our dedication to not only meet the financial needs of our clients but also to contribute positively to the community and environment we operate in. Leveraging on Taka Solutions' expertise in energy management, we aim to significantly reduce our carbon footprint and operational costs, setting a new benchmark for sustainable practices in the banking industry. Our collaboration with Positive Zero and Taka Solutions is a testament to Ajman Bank's ongoing efforts to embrace responsible banking practices that support economic growth while ensuring environmental sustainability."

Commitment to Sustainability

David Auriau, Co-Founder and CEO of Positive Zero, remarked: "We are excited to be working with Ajman Bank in prioritizing energy efficiency to reduce the impact of their own carbon footprint. It unlocks economic opportunities within the banking industry and supports the nationwide drive towards sustainability. Energy efficiency is an imperative to meet the country's ambitions to become over 40% more efficient by 2050. Along with our trusted partners like Ajman Bank, we are investing and driving the widespread adoption of efficient technologies and solutions to develop more sustainable built environments and smarter cities, helping businesses substantially reduce their consumption, costs and carbon emissions."

Positive Zero leads efforts in decarbonizing businesses across the Middle East through on-site clean power solutions, energy efficiency initiatives, and electric mobility options. Their foundational companies have already achieved notable success in key GCC markets. Taka Solutions has saved over 100,000 MWh across eight sectors in the UAE alone—equivalent to planting more than one million trees.

The collaboration between Ajman Bank and Positive Zero highlights a shared vision for sustainability within the banking sector. By leveraging advanced energy management expertise from Taka Solutions, they aim to set new standards for environmentally responsible banking practices.

This initiative not only benefits Ajman Bank financially but also contributes significantly towards national goals for increased energy efficiency by 2050. The project exemplifies how strategic partnerships can drive substantial environmental benefits while fostering economic growth.

The partnership between these entities underscores their dedication to creating sustainable built environments and smarter cities through innovative technologies.