NBB Group announced that it is undertaking a new initiative to install solar panels in select National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB) branches across the Kingdom, further demonstrating its commitment to implementing ESG measures across its operations, Gulf-Insider reports.
The new initiative, expected to be rolled out in the first quarter of 2022, will see the installation of solar panels at four branches, including NBB’s Istiqlal and Riffa Souq branches, as well as BisB’s Hamad Town and Arad branches, and is estimated to take six months to complete.
The total capacity of the installed panels measures 373KW, generating a combined 605,700 kWh of energy every year, saving up to 65% of power at some of the branches. This will diminish the overall Group’s carbon footprint by reducing approximately 300 Tonnes of CO2 per year, while also optimizing energy consumption and costs.National Bank of Bahrain (NBB) Group is the Kingdom’s first privately-owned bank. The NBB group announced that it has been working to enforce its commitment to implement environmental, social, and governance (ESG) principles across its operations. “Environmental responsibility is a critical part of our strategy and has become deeply embedded into our culture, in line with our ongoing endeavors to operate more responsibly across the Group. NBB Group aims to raise awareness about the use of solar-powered systems, which extract clean, pure energy from the sun, and to reduce reliance on energy provided by coal, natural gas, and fossil fuels. Bahrain’s solar energy industry has a bright future with innovative technology currently in place. Solar energy will become the most important source of energy for electricity production in the Kingdom,” GCC Business News states.
