Emirates NBD simplifies ESG reporting with Microsoft Sustainability Manager, reducing effort by 75%

Emirates NBD Group (ENBD) is a financial institution serving over nine million customers in 13 countries. It was established in 1963 with the founding of the National Bank of Dubai (NBD). By 2007, NDB merged with Emirates Bank International, to form Emirates NBD. Today, the bank employs more than 30,000 people from over 90 nationalities.

Emirates NBD is not only the largest bank in Dubai and most profitable in the region; it also holds the highest environmental, social, and governance (ESG) rating according to S&P Global. It ranks in the top 5% of companies according to Sustainalytics. “Sustainability is central to our operations. It's at the heart of what we do,” shares Vijay Bains, Chief Sustainability Officer and Group Head of ESG at Emirates NBD Group. 

Balancing opportunity and risk with data transparency

The importance of the bank’s sustainability program stems from both opportunity and risk. As more corporate clients seek sustainable finance and retail clients look for ethical banking options that align with their values, Emirates NBD stands out as a bank that meets their expectations. “97% of our customers use digital transactions, and they want an efficient, effective digital experience,” Vijay Bains shares. 

The bank also wants to manage the risk of greenwashing or using green credentials deceptively. "Whatever claims we make, we need to have evidence and data," states Vijay Bains. “We’re audited and rated, so the data in our sustainability reports must be auditable. Our investors also require accurate, transparent data.”

Previously, Emirates NBD relied on simple spreadsheets to collect data from around 25 stakeholder groups for the ESG program. "Some of my colleagues have gotten grey hair prematurely from the painful data gathering exercise we had in the past," recalls Seema Shetty, Head of Corporate Social Responsibility at Emirates NBD Group. "Our data-gathering spreadsheet had about 25 sub-worksheets within it to track all the various types of data, assumptions, and locations.” This complex system often caused delays, which prevented the bank from responding to environmental needs quickly. "If we have to wait a year to understand our environmental impact, it will take us two years to actually make a change," highlights Vijay Bains. This need for more efficient sustainability reporting led Emirates NBD to select Microsoft Sustainability Manager as its ESG platform. "It runs on the cloud so we can stay on the path of digitization," Vijay Bains notes. “Additionally, Microsoft's use of renewable energy aligns with our values. As a company experiencing growth, we sought an enterprise-grade partner to support us in our sustainability journey and found that in Microsoft.” 

Streamlining ESG data collection

Implementing Microsoft Sustainability Manager proved to be a seamless process for Emirates NBD. "The support we've received from the Microsoft team has been incredible," shares Seema Shetty. "Of course, there were teething troubles, but the overall journey has been seamless." The bank emphasized upskilling its stakeholders in ESG reporting practices, training them to use Microsoft Sustainability Manager effectively. The simplicity of the new system motivated stakeholders to get on board. "We have a portal where everyone can just plug in their data or generate monthly reports at the click of a button," says Seema Shetty. "An exercise that previously took three months before, now can be completed in about a week or so using Microsoft Sustainability Manager.”

Empowering decisions with real-time data 

Aside from doing away with cumbersome spreadsheets, Emirates NBD gained insightful dashboards with Microsoft Sustainability Manager. "In the past, we would go to ESG meetings with piles of paper, which is counterproductive, when you consider that the topic of the meeting is sustainability,” recalls Seema Shetty. “Now, those dashboards are our main focus during sustainability meetings. They drive decisions and planning on what we want to implement." 

With these dashboards, Emirates NBD gained real-time data to make swift and impactful sustainability decisions. “Instead of waiting for the end of the quarter or the year, we can pivot quickly based on the data and implement quick wins when we see trends going one way or the other. That’s been a critical advantage for us,” shares Seema Shetty. 

For example, Emirates NBD initially believed that executive travel was its largest source of emissions. "Once we went through the data, we found out that information technology (IT) was actually our biggest emitter," Vijay Bains explains. This insight enabled the bank to quickly redirect its focus toward reducing emissions from IT operations. 

With granular data, the bank is able to appropriately invest in initiatives like renewable energy certificates to offset its carbon footprint or direct investments to specific regions where it operates. In Türkiye, for instance, the bank recognized the need to enhance its renewable energy initiatives. "We're now investing in a solar plant in Türkiye as a result of the data we have uncovered thanks to Microsoft Sustainability Manager," says Vijay Bains. 

Additionally, the data revealed disparities in emissions per employee across countries. "We saw that in some countries, people prefer to drive by car than commute, which contributes to emissions," notes Vijay Bains. “This influenced our fleet purchasing decisions, such as prioritizing electric vehicles where infrastructure can support that.” This enhanced visibility has also sparked a culture shift within the company, with people becoming more competitive and driven to do even better.

Exceeding expectations, ahead of target

With transparent data and timely strategic decisions, Emirates NBD has exceeded its own expectations. "We had a target to reduce our emissions by 5% within a year, and we are now nearing a 50% reduction," shares Vijay Bains. “This is a big selling point for customers. It’s an enticing message that aligns with our values—and it doesn’t cost the consumer; it’s part of the brand’s commitment.”

Expanding sustainability initiatives

Emirates NBD has served as a true trailblazer, serving as an example to companies across the world, including its own corporate customers. “If we can achieve this in the UAE—a region not traditionally associated with net-zero ambitions—then it can be done anywhere. Many of our major corporate clients are also interested in this platform because they, too, want to digitize their operations and reduce their environmental impact,” adds Vijay Bains. 

Emirates NBD plans to enable its corporate customers to plug their own data into Microsoft Sustainability Manager. This way, the bank can show them how to reduce emissions and provide funding dependent on the reduction, thereby multiplying its impact on sustainability.

Emirates NBD is also looking to expand its sustainability program into areas such as biodiversity, water conservation, and waste management. "We implemented a recycling policy within the group and more people are bringing their reusable bottles to work," notes Vijay Bains. "We plan to look at that data more carefully to map what further actions we could take to enhance our impact."

To manage the growing volume of ESG data, the bank plans to integrate artificial intelligence (AI) into its reporting. "Like many companies, our ESG reporting has grown to hundreds, if not thousands, of pages," says Vijay Bains. "Right now, we’re trying to appeal to various audiences: the person who spends one minute reading the report, the regulator who reads all 400 pages, the investor who reads 10 pages, and our peers. With AI, we can make reporting accessible to these various stakeholders, helping them easily draw insights from mountains of data.”

Looking ahead, the bank is eager to unlock even more benefits from the system as it matures. “We’re getting a lot of guidance from the Microsoft team on how to really maximize Microsoft Sustainability Manager’s potential, which we may not have fully tapped into yet. I’m looking forward to discovering those additional benefits,” Vijay Bains concludes.

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