Kuwait’s National Bank partners with DHL to slash carbon emissions

National Bank of Kuwait (NBK) announced that it has entered in a partnership with DHL to join the global freight company’s GoGreen Plus service to ensure all NBK’s international shipments utilise sustainable aviation fuel (SAF) to reduce carbon emissions.

“This step is part of NBK’s efforts to move towards a sustainable future, focusing on industry leading ESG practices, aligning with our goals of achieving carbon neutrality by 2060, and our aspiration to achieve net-zero operationally by 2035,” said Fahad Al-Thuwaini, GM – head of group administration services, NBK.

Under the partnership, NBK will be awarded an annual sustainability certificate against the reduction in emissions.

DHL’s GoGreen Plus programme works with insetting and offsetting. Insetting allows replacement of fossil aviation fuel (jet-fuel) by sustainable aviation fuel (SAF). In addition to insetting, DHL also compensates emissions via VER Gold Standard carbon credits projects.

Customers can decide on the scope (trade lane, shipped weight) of the insetting and receive an annual certificate confirming the exact amount of CO₂ reduced.

For this, an independent third-party agency, Société Générale de Surveillance (SGS) verifies that the promised emission reductions were realised. This certificate can be used by customers to provide evidence of your Scope 3 emissions reduction.

“We are thrilled to forge this strategic alliance with NBK, a financial institution of significant size and stellar reputation. Being the first bank in Kuwait to sign up for DHL GoGreen Plus service underscores NBK’s commitment to environmental sustainability. This partnership will bolster our joint efforts to reduce emissions, advancing our aim of reaching net-zero emissions by 2050,” commented Makram Raad, country manager, DHL Kuwait.