Honeywell and Emirates NBD to Collaborate On Advancing Uae Sustainability Goals

The agreement to drive innovation and set new benchmarks in building sustainability

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa, and Turkey) region, signed a Memorandum of Understanding (MoU) and agreement with Honeywell (Nasdaq: HON) for Honeywell Forge Connected Services to support the companies’ shared strategic goal of driving sustainability through energy-efficient building technologies, leveraging digital transformation and innovation, while supporting the UAE Net Zero 2050 strategic initiative.

The two-part Honeywell Forge Connected Services agreement will support Emirates NBD Group’s sustainability efforts across its building assets by deploying Honeywell’s ready-now solutions that enhance efficiencies and help reduce carbon footprint in properties managed by Emirates NBD Facility Management. This will facilitate the banking group’s aim of supporting the UAE Net Zero by 2050 Strategic Initiative as it sets new digitalization benchmarks.

As a part of the agreement, Honeywell will deploy its enterprise performance management solution, Honeywell Forge, across Emirates NBD’s building assets, helping the Group to improve energy consumption and operational efficiencies while enhancing the occupant experience in its facilities. Emirates NBD Group properties are covering an area of 5.77 million square feet, which includes 2,530,107 square feet of residential space and 2,732,369 square feet of office space, along with 509,867 square feet of retail space.

“As part of our ongoing commitment to sustainability, we have been at the forefront of adopting next-generation solutions to set regional best practices in innovation. Advancing the pace of digital transformation is a key enabler of achieving national sustainability goals, and we look forward to encouraging our clients and partners to reach their own goals and reduce their carbon footprints. Through this collaboration with Honeywell, we will positively impact a range of projects and create operational and energy efficiencies,” said Ahmed AlSheryani, CEO, Emirates NBD Properties and Executive Vice President, Head of Procurement & Realty Services, Emirates NBD.

The MoU will also provide clients of Emirates NBD with access to Honeywell’s ready now cloud-based and building technologies solutions that can help achieve sustainability goals including energy efficiency and carbon reduction. The Honeywell solutions will help clients increase energy savings, track carbon emissions, and decrease operational costs with improved energy and water management. In addition, Honeywell’s software platform will provide real-time analytics to enable optimal performance efficiency, and maximize uptime to positively impact the bottom line while increasing the comfort levels of building occupants.

“This collaboration with Emirates NBD will help our customers achieve their sustainability goals through digital transformation and access to green financing. Our collaboration with Emirates NBD will help to reinvigorate energy projects that have seen limited capital expenditure financing and enable further development of sustainability in buildings across the country while supporting the UAE’s Net Zero by 2050 Strategic Initiative,” said Mohammed Mohaisen, CEO and president of Honeywell - High Growth Regions, Middle East and North Africa.

“Emirates NBD is a well-known leader when it comes to innovation, and we are proud to be collaborating with it to support its sustainability goals and enhance the occupant experience,” said Kevin Dehoff, CEO, and president of Honeywell Connected Enterprise.

The UAE Net Zero by 2050 strategic initiative is a national drive to achieve net zero emissions by 2050.