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Century Financial joins United Nations Global Compact Network UAE

The milestone highlights Century Financial's unwavering commitment to sustainability and aligns with its strategic goal to achieve net zero emissions

Century Financial has announced its participation with the United Nations Global Compact Network UAE (UNGC UAE) and its participation in the esteemed Climate Ambition Accelerator 2024. This milestone highlights Century Financial's unwavering commitment to sustainability and aligns with its strategic goal to achieve net zero emissions

As one of the first investment companies in the UAE to take significant steps in monitoring greenhouse gas (GHG) emissions, Century Financial has set a benchmark for the industry. Key milestones in Century Financial's net zero journey include:

The four-month Climate Ambition Accelerator programme is designed to equip companies with the knowledge and skills to accelerate progress towards setting science-based emissions reduction targets aligned with the 1.5°C pathway, setting them on a path towards net zero emissions by 2050. Companies will gain access to global best practices, peer-to-peer learning opportunities, practical activities, capacity-building sessions, and on-demand training. This will help Century Financial take a lead towards a net-zero future.

As a participant in the UNGC, Century Financial is committed to implementing its Ten Principles in key areas. The company aims for gender equality by ensuring equal pay for work of equal value by 2030. It will also address the social impacts of climate change through a Just Transition framework, partnering with workers, unions, communities, and suppliers. Century Financial is dedicated to ensuring that 100 per cent of its employees earn a living wage by 2030 and plans to build water resilience across its global operations, targeting a positive impact in at least 100 vulnerable water basins. Additionally, it will align corporate investments with SDG policies, setting targets and tracking progress, reporting annually on these efforts while utilising UNGC resources to enhance global employee engagement and training in sustainability.

Bal Krishen, chairman and CEO of Century Financial, expressed his enthusiasm about the partnership: "Joining the United Nations Global Compact and participating in the Climate Ambition Accelerator 2024 is a significant step for Century Financial. It reflects our deep commitment to sustainability and our proactive approach to addressing climate change. We are dedicated to integrating these principles into our business strategy and operations, leading the way for a sustainable future in the financial industry."

Sameera Fernandes, CSO and board member of Century Financial, further added: "The Climate Ambition Accelerator will help us take a deep dive into GHG best practices, emissions accounting methodologies, and strategies. It will enable us to take steps to improve a comprehensive GHG emissions inventory. It is crucial for the financial sector to gear up and walk the talk, demonstrating genuine commitment to sustainability and climate action."

Joëlle Jammal, executive director of the UNGC UAE, commended Century Financial’s efforts: "We are thrilled to welcome Century Financial to the United Nations Global Compact Network UAE. Their dedication to sustainability and their proactive steps towards achieving net zero emissions are exemplary. We look forward to supporting their journey and witnessing the positive impact they will continue to make in the financial sector and beyond."