As part of its commitment to supporting financial sustainability and green finance in the banking sector, the Association of Banks in Jordan has released its report titled “The Path towards Sustainability 2024”, which aims to document and showcase the Association’s key achievements and activities in the areas of sustainability and green finance throughout 2024.

Dr. Maher Al-Mahrouq, Director General of the Association of Banks in Jordan, stated that the report highlights the Association’s contributions to capacity building, which will drive the transition toward green and sustainable finance. He noted that in 2024, the Association organized a series of specialized workshops and training programs focused on green finance and sustainable banking, with a total of 210 participants benefiting from these sessions.

Dr. Al-Mahrouq also outlined the Association’s vision regarding sustainability and green finance, emphasizing that its efforts align with the national Economic Modernization Vision and the Central Bank of Jordan’s strategic directions to promote sustainability and transition toward a green economy, particularly through the Green Finance Strategy.

At the banking sector level, Dr. Al-Mahrouq explained that efforts will continue in several key areas, including the development of green finance plans and products, the enhancement of environmental and social governance (ESG) frameworks within banks—especially through the establishment of sustainability departments, units, and committees—as well as the formulation of clear transition plans. Banks have also established sustainability-focused committees at the board level to oversee sustainability strategies. Moreover, sustainability reports have been issued in line with the requirements of the Jordan Securities Commission (ASE) and the Global Reporting Initiative (GRI) standards.

Dr. Al-Mahrouq also outlined the Association’s future direction, noting that it will continue to work on a range of technical topics related to green finance, sustainability, and ESG governance in collaboration with various partners throughout 2025 and beyond. He emphasized that sustainability extends beyond banking operations to encompass broader economic, social, and environmental roles in the future.

According to the report, the Association’s key achievements in 2024 include joining the Sustainable Banking and Finance Network (SBFN) and becoming a member of the United Nations Global Compact (UNGC)—the world’s largest voluntary initiative aimed at encouraging companies and organizations to adopt principles of sustainability and social responsibility.

Additionally, the Association hosted the second edition of the Green Finance Forum under the theme “Green Finance: A Strategic Necessity for Banking’s Future.” The forum witnessed broad participation from banking leaders, including chairpersons and executive management, as well as several government entities, institutions, and international organizations.

The report also highlights a range of activities carried out by the Association and its Green Finance Committee, which has been tasked with promoting green finance awareness and knowledge among banks operating in Jordan. The committee has contributed to advancing green transformation in the banking sector through various initiatives and has played a key role in connecting technical and practical aspects of green finance with regional, international, and local partners.

To download the full report, please visit:
https://abj.org.jo/ar?p=19007