Galadari Brothers Co. LLC, a conglomerate based in the United Arab Emirates, has partnered with Mashreq, a top-most financial institution in the MENA region to promote a green loan facility. This green loan facility will mark a notable step towards a sustaining environment. 

The facility also comes as evidence of the unfluctuating commitment of both the organization to cut down the consumption of energy and release while giving an address to the issue of the pressure of climate change.

The sustaining finance will be driven to support green modification and technologies with enough energy efficiency at all the hotel properties of  Galadari Brothers located in Sri Lanka. The customised “green tranche” is expected to lead the way for a substantial cut down on the consumption of energy and emissions, thus laying the foundation for the decarbonisation of the assets of the group and setting remarking standards for ecologically conscious business standards.

The  Co-Chairman and Group CEO of Galadari Brothers, Mohammed Galadari, “Our collaboration with Mashreq on this transaction is much more than a conventional financial agreement; together, we are forging a sustainable partnership aimed at creating a more environmentally conscious future. At Galadari Brothers, we recognise the immense significance of contributing to a sustainable environment, a commitment further reinforced by our appointment of an ESG consulting firm to meticulously evaluate the Group’s carbon footprint, benchmark, establish KPIs and drive our initiatives forward. This partnership with Mashreq represents an exciting step forward in our journey towards sustainability, and emphasises the role businesses and sustainable finance play in addressing climate change.”

The Group Head of Corporate & Investment Banking of Mashreq, Joel Van Dusen added, “We are delighted to partner with and support Galadari Brothers on their journey towards a more sustainable future. Mashreq’s green loan will give an opportunity for the Group to take positive steps in reducing emissions and embracing decarbonisation. This collaboration reflects our commitment to fostering positive environmental changes. By combining loan terms with sustainability objectives, we are championing a cause that will motivate other companies to incorporate energy efficiency goals into their operations.”

According to RV Ramanan, Group CFO of Galadari Brothers, with this collaboration, they are expecting to set a remarkable milestone manifesting to boost sustainability in the environment.

Mr. RV Ramanan said, “This transaction with Mashreq marks an important milestone signifying our commitment to integrating sustainability into our business decisions while aligning financial strategy with our environmental aspirations”.

Karim Amer, Head of Mashreq Automotive & Mobility sector, said: “Partnering with Galadari Brothers for their debut green loan reinforces our commitment towards long-standing relationship with the Group and sustainable financing solutions. We see our green loan as a catalyst for an accelerated pathway towards sustainability and a more resilient future”.

The Capex (Capital Expenditure) designated the installation of energy productivity constructions which will get down to the business in the coming future.

As the organisation loudly flaunts the journey of sustainability, the group aims to inspire people and other organisations around the world and spread it to the other community, rather than working within their own industry with a solution to prove that achieving a sustainable future is even within our reach.