Emirates NBD is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife (UfW) financial taskforce which is dedicated to stopping illicit financial flows associated with the Illegal Wildlife Trade (IWT). Emirates NBD’s move to join the UfW Financial Task Force is aligned with the bank’s commitment to supporting global and local sustainability-focused initiatives such as the UN Sustainable Development Goals (SDGs) – specifically Goal 15, Life on Land – and the UAE Vision 2021, which aims to ensure sustainable development while preserving the environment.
The global banking system is a crucial medium for the transfer of illicit proceeds gained from illegal wildlife trade. Financial institutions risk acting as unwitting facilitators of the trade, with associated illicit financial flows continuing to move around the world through legitimate banking channels. Several leading UAE companies have already taken measures to combat IWT by joining UfW; including those from the transport and financial sectors as well as non-governmental organizations. Over the years, several Dubai Government entities have also initiated programmes to raise awareness and counter the illegal practice.