Partners with new sustainability linked Facility from Mashreq
Gargash Group has announced a significant step forward in its sustainability efforts with the signing of a Sustainability-Linked Facility (SLF) agreement with Mashreq, a leading financial institution in the MENA region.
The agreement represents one of the largest SLFs in the UAE automotive sector to date and supports the group’s efforts to align with UAE Green Agenda 2030 and Net Zero Strategy 2050.
The facility ties financing terms to measurable Environmental, Social, and Governance (ESG) Key Performance Indicators (KPIs), including targets for reducing carbon emissions, increasing investment in employee development, and encouraging responsible practices across the supply chain.
Commitment
The signing ceremony took place at the Mercedes-Benz Brand Center in Dubai Design District and highlights Gargash Group’s strong commitment to Environmental, Social, and Governance (ESG) principles.
“We are dedicated to creating lasting value for our stakeholders while contributing positively to the environment and society, and this agreement is a testament to that commitment,” affirmed Walid Hizaoui, Group Chief Strategy Officer, Gargash Group.
“Through this partnership, we are proud to contribute to the UAE’s national sustainability goals and set a new standard for responsible automotive leadership in the region,” asserted Thomas Schulz, General Manager Mercedes-Benz Passenger Cars, Gargash Enterprises.
Sustainability initiatives
“This agreement enables Gargash Group to accelerate its sustainability initiatives while setting a benchmark for the automotive sector and the wider business community in the region,” remarked Marwan Galadari, Executive Vice President & Head of Trading Division, Mashreq.
“This deal brings the total sustainable finance transactions concluded by Mashreq in this sector to AED 2.8bn in 2025 and reflects our continued commitment to advancing sustainability in one of the country’s most vital industries,” commented Karim Amer, Senior Vice President, Head of Automotive, Heavy Equipment and Trading Multinational Groups, Mashreq.
