| | OCTOBER 20238IN FOCUSAbu Dhabi Islamic Bank (ADIB) has teamed with DHL, the world's top logistics company, for the GoGreen Plus, the latest addition to their sustainability solution. DHL is allowing ADIB to decrease carbon emissions related with their shipments by using Sustainable Aviation Fuel (SAF) through this service. This collaboration marks a significant milestone, as ADIB becomes the first bank in the MENA region to sign up for DHL Go Green Plus, which enables the Bank to reduce their Scope 3 emissions, encompassing indirect greenhouse gas emissions originating within a company's value chain, including downstream transportation and distribution, as per zawya.The declaration is in line with the UAE's revised objective of reducing emissions by 40 percent by 2030. As part of this program, ADIB cooperated with DHL to determine the CO2e emissions associated with their shipments' logistics. This collaboration helps ADIB meet its promise to reduce DHL-related emissions and strengthens its pledge to achieve a 30% reduction in ADIB's Scope 3 emissions by the end of 2023. This is an important step toward ADIB's long-term aim of fully controlling the bank's Scope3 emissions.Mahmoud Haj Hussein, Country GM for DHL Express UAE, quoted: "Connecting people and improving lives is our purpose at DHL and when we fulfil our purpose, we make the world a better place. Within our ESG framework, we all have a big responsibility to reduce our carbon footprint for the long-term sustainability of our planet. We have gone one step further on our commitment by enabling our customers to inset carbon emissions within their value chains through our investment in SAF. The United Arab Emirates and the Republic of Georgia have signed a Comprehensive Economic Partnership Agreement (CEPA) to abolish or considerably decrease tariffs, remove non-tariff obstacles, and increase trade in commodities, services, and investment. The nations have affirmed that the agreement will go into force in the first quarter of next year.The agreement will significantly expand UAE's export opportunities, with a minimum expectation of at least $1.3 billion in exports to Georgia over the next five years, according to Dr Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade. He was speaking at a press event announcing details of the CEPA between UAE and Georgia, as per gulfnews.The two countries were able to complete negotiations and sign the trade agreement after just three rounds of talks, said Levan Davitashvili, Vice Prime Minister, Minister of Economy and Sustainable Development of the Republic of Georgia. "We started negotiations in September 2022 and concluded talks in March 2023," he said."The percentage of the tariff reductions is almost 95 per cent of the overall historical trade between us and Georgia. And 99 per cent has been given from us to their (Georgia's) products," said the minister. Al Zeyoudi said the economic growth and benefits generated by the trade agreement are expected to offset any revenue losses from reduced tariff collections."So yes, there will be a reduction in tariff, but at the same time, there will be an added value in our GDP. So that is compensating the tariff reduction," he explained. ADIB, DHL JOIN HANDS FOR SUSTAINABLE TRANSFORMATION IN LOGISTICSUAE, REPUBLIC OF GEORGIA INK CEPA TO PROMOTE BUSINESS
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