DURING 2016, The Saudi Investment Bank (SAIB) furthered its commitment to sustainability and transparency by joining the Global Reporting Initiative (GRI) GOLD Community. As a result of that initiative, SAIB has produced the report in accordance with the newly-released GRI Standards. This effort has resulted in this Report being the first report issued by a Bank globally and the first in the Kingdom using the new GRI Standards.
The report is a window into the six years SAIB has been promoting sustainable development in the Kingdom. The five pillars of SAIB’s sustainability framework align with the ambitions detailed in Saudi Arabia’s Vision 2030, which is the theme of this year’s Report. The bank’s growing commitment to sustainability efforts have helped build a successful business by creating stronger relationships with customers, communities, regulators, and the environment.
SAIB has won First Place in the 2016 King Khalid Award for Responsible Competitiveness, improving upon its second-place position in 2015 and third-place position in 2014. This continued improvement demonstrates SAIB’s increasing effectiveness in managing economic, social and environmental impacts, which are detailed in the report.
As SAIB looks toward the upcoming year of business, it intends to renew its sustainability ambitions to create shared value for customers, employees, stakeholders, and the Kingdom of Saudi Arabia in 2017. “The Saudi Investment Bank will continue to support and accelerate the Kingdom toward its vision of sustainable success for years to come. We are investing in the Kingdom of tomorrow,” said SAIB’s CEO Musaed Mohammad Al Mineefi.
SAIB’s ’16 sustainability efforts were done in line with the AA1000 Accountability Principles Standard.
. Accountability, a global management consulting firm with expertise in sustainability reporting, guided SAIB through the transition from the GRI G4 Guidelines to the new GRI Standards and worked with the Bank’s Corporate Communication Department to produce the report. — SG
