commerce July 2022 53 www.bahrainthismonth.com Banks and financial institutions are also taking a more sustainable approach to their products – but this is currently with a focus on ESG rather that impact. Green bonds, green credit, green sukuks – all are on the rise in the region. First Abu Dhabi Bank has committed to net zero and in 2022 the bank announced its USD213 million green issuance this year, following the 500-million-euro green bond issued a week earlier. Islamic Development Bank issued a USD2.5 billion sustainability sukuk and Arab Petroleum Investments Corporation (APICORP) went to market with its debut green bond of $750 million. Commercial banks are beginning to actively evaluate a green lending portfolio. The world we live in needs to be long terms sustainable. Something that’s profitable, but not sustainable, just doesn’t grasp as much positive attention any more. Companies and people and lives are deeply connected – the climate change and the Pandemic have both made this very clear. We also have an innate human need to be a part of something that has value. We have been taught that value comes from money, but today, people are realising that money is the numeric expression of something similar to value. Actual value is in how being a part of something makes us feel. It seems like the world is realising that impact, sustainability and being a part of a greater goal, needs to be given its true value. Pria is the Founder and Managing Director of GMI Advisory WLL– a Management Consultancy specialising in emerging businesses. You can visit her company website www.gmiadvisory.com to connect with her. You can follow Pria at her Instagram handle @guide¬_my_idea
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