Saudi National Bank (SNB)

This award recognises SNB for converting sustainable finance commitments into traceable, audited environmental outcomes. The bank's 2025 Sustainable Finance Allocation and Impact Report confirms full alignment with ICMA Green Bond Principles (2021), Social Bond Principles (2023) and Green Loan Principles (2023). Proceeds are allocated exclusively to six verified green assets — five solar projects and one wind farm — all in Saudi Arabia, enabling a collective reduction of 278 million tonnes of CO₂e annually.

Every issued bond is traceable to a specific project, a specific emissions reduction, and a third-party verified impact report. As the largest commercial bank in Saudi Arabia, SNB's capital instruments anchored to verified renewable energy assets set a standard for the regional banking sector. For demonstrating that a systemically important financial institution can make green finance both rigorous and scalable, Saudi National Bank receives this recognition.

The model SNB has established — full ICMA alignment, project-level traceability, third-party impact verification and public reporting — sets a rigour standard for the Gulf banking sector with replication potential across the region. As the largest commercial bank in Saudi Arabia, its capital instruments anchored to verified renewable energy assets signal to domestic and international investors that green finance in emerging markets can be both measurable and investable, accelerating the private capital flows that the energy transition requires. For that, Saudi National Bank receives this recognition.

Score: 88

Reference: https://www.alahli.com/-/media/project/snb/snb-web/about-us/02-1-investor-relations/sustainable-finance-framework/2025/sustainable-finance-allocation-and-impact-report-2025-final.pdf