The Saudi British Bank sponsored the UK-Saudi Renewable Energy Forum organized by the Saudi British Joint Business Council on June 28 in London.
The forum brought together a group of UK and Saudi ministers, senior government officials, businessmen and investors for a series of interactive talks and panels on investment opportunities in clean energy programs in the UK and Saudi Arabia.
The discussions focused on the vital role of green financing in assisting with the energy transition, opportunities for private sector participation in developing clean technologies, and promoting collective cooperation for a more sustainable future.
“We are honored to be a part of this incredibly important forum to explore the various opportunities for renewable energy collaboration between the two Kingdoms,” said SABB CEO Tony Cripps, during the forum’s discussion sessions. “We are proud of our role as a financial institution in the process of sustainable development led by the Kingdom’s Vision 2030.”
“At SABB, we are deeply committed to sustainability, and it is central to our strategy. We will do everything we can to support green initiatives to create a more sustainable future and achieve leadership in environmental, social, and corporate governance, and we are taking significant steps to lead in the Kingdom and the region as a whole.
“We have recently launched the first green deposit product in the region with HSBC Group. We have also acted as lead arrangers for the Red Sea giga-project financing, the first green loan in the Kingdom.
“In addition to our contribution to the Green Saudi Initiative, SABB is fully prepared to support sustainable development and the Kingdom’s Vision 2030,” Cripps added.
The forum follows the hugely successful Sustainable Investment Forum in London in July 2021, demonstrating the UK and Saudi Arabia’s growing commitment to investing in sustainable energy, combating climate change, and achieving zero-carbon emissions.
SABB is one of the leading banks in financial innovation, offering various products and services aimed at promoting digitization and innovation, in line with the Kingdom’s Vision 2030 initiatives.
The bank was established in 1978 as a Saudi joint stock company and is an associate company of the HSBC Group.
It offers integrated financial and banking services including retail banking, corporate banking, investment, private banking and treasury. SABB’s paid-up capital is SR20.5 billion ($5.46 billion).