Emirates NBD has made an equity investment in Erguvan, a financial technology venture aimed at providing financial institutions and corporations with digital tools to manage the impacts and risks of climate change
The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Türkiye under the umbrella of Emirates NBD Innovation Fund, the corporate venture capital arm of the Dubai-based bank. The fund was created to enable investments in strategically relevant fintech, SustainTech and start-ups across Emirates NBD’s key markets, including Türkiye.
In addition to Erguvan Marketplace, Türkiye’s first and only environmental commodities marketplace, the company also offers modular carbon footprint management technology under the Erguvan Climate Action Platform, which integrates through an API.
Neeraj Makin, group head of strategy, analytics & venture capital, Emirates NBD, comments: “Sustainability is increasingly becoming a core part of our strategy, and we are delighted to announce our investment in Erguvan, a climate fintech venture, which is Türkiye’s first digital carbon credit trading platform. As one of UAE’s leading financial institutions, we are looking to set a global benchmark for technology-driven ESG solutions, and such investments through our Innovation Fund bring us one step closer to achieving our aspirations.”
The investment follows the bank’s announcement earlier this month that in the lead up to COP28, it will launch a sustainability themed accelerator programme, inviting global green fintechs to deliver and deomonstrate sustainability-focused financing solutions and processes to support a climate resilient future.