Emirates NBD has made an equity investment in Erguvan, a FinTech focused on helping financial institutions manage the impacts and risks of climate change.
The partnership is set to give Emirates access to Erguvan’s powerful ESG assessment tools, enabling the organisation to assess its environmental impact, enhance its sustainability strategies, as well as manage its overall carbon footprint.
The move is seen as a brilliant coup for Emirates, who have landed Türkiye’s first digital carbon credit trading platform, as they look to meet their ESG expectations.
Neeraj Makin, group head of strategy, analytics & venture capital, at Emirates NBD, said: “Sustainability is increasingly becoming a core part of our strategy, and we are delighted to announce our investment in Erguvan, a climate FinTech venture, which is Türkiye’s first digital carbon credit trading platform.
“As one of UAE’s leading financial institutions, we are looking to set a global benchmark for technology-driven ESG solutions, and such investments through our Innovation Fund bring us one step closer to achieving our aspirations.”
Erguvan, established in 2022, offers environmental commodities trading through Erguvan Marketplace and carbon footprint management solutions via the Erguvan Climate Action Platform.
The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Türkiye under the umbrella of Emirates NBD Innovation Fund, the corporate venture capital arm of the Dubai-based bank.
The fund was created to enable investments in strategically relevant FinTech, SustainTech and start-ups across Emirates NBD’s key markets..
In addition to the Erguvan Marketplace, Türkiye’s first and only environmental commodities marketplace, the company also offers modular carbon footprint management technology under the Erguvan Climate Action Platform, which integrates through an API.
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