Emirates NBD has sent investment funds to equity Erguvan, a company that works in the area of financial technology.
The purpose of the mentioned fintech company is to provide financial institutions and corporations with digital tools through the use of which it is possible to manage the effects of climate change and related risks.
The amount of investment is not reported.
The bank’s money from the United Arab Emirates was sent Through Deniz Ventures, an investment fund created by Turkish DenizBank A.S., Turkey, under the auspices of Emirates NBD Innovation Fund. The Fund was created to provide financial injections into sustainable technologies, and technological solutions in the area of fintech and startups operating in the most important markets.
In addition to Erguvan Marketplace, Turkey’s first and only environmental goods market, the company also offers modular carbon footprint management technology. Access to this solution is provided to consumers through the Erguvan Climate Action Platform, which is integrated through the API.
Neeraj Makin, Head of Strategy, Analytics, and Venture Capital at Emirates NBD, says that sustainable development is increasingly being identified by financial institution as one of the main priorities of its business strategy. He also stated that the bank strives to set a global standard for technological ESG solutions. According to him, financial investments through an investment fund are steps toward achieving goals.
In September, Emirates NBD announced the launch of an acceleration program dedicated to sustainable development. The financial institution invites global fintech companies focused on solving problems related to climate change to provide and demonstrate commercial projects to support future, sustainability in relation to the transformation of the environmental dimension of the surrounding space.
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