26 May 2010 | Nick Martindale
The National Commercial Bank of Saudi Arabia (NCB) has pledged to give preferential treatment to suppliers that can demonstrate their sustainability credentials, as part of a more concerted approach to its own environmental performance.
In its Sustainability Report 2009, the bank said it would look to share its sustainability initiatives with selected business partners.
The report said: “This includes giving preference to suppliers who both improve environmental management of their operations and integrate sustainability into the design and nature of the sourced products and services.”
NCB also undertook to improve its own credentials, admitting it had yet to make significant inroads into this area.
It said: “Until recently we have not fully appreciated the extent of our ability to positively affect our impact on the environment.
“During 2010 the key focus area of the sustainability department will be to analyse NCB’s direct impact on the environment in far greater detail and to agree NCB’s environmental policy and plan.”
Areas such as water conservation, energy and emissions reduction, waste minimisation and sustainable design of the bank’s infrastructure would also come under scrutiny, it said.
It also announced its intention to encourage “environmental stewardship and stimulate environmental and social innovation through the design of our own products and services”.
NCB admitted its estimates for water and power consumption before 2009 were inaccurate and said it would track its performance against 2009 figures going forward.