UAE-headquartered RAKBANK (National Bank of Ras Al Khaimah) mentions US fintech decacorn in its comprehensive thesis on social aspects of Web3
RAKBANK's strategy includes environmental, social and governance road maps. The environmental track is focused on managing the bank's carbon footprint and supporting sustainable eco-friendly financial solutions.
The social road map includes supporting small and middle entrepreneurs to grow the business, fostering financial inclusion and literacy with a stressed focus on underbanked segments of audience. Also, RAKBANK highlighted the importance of providing assistance to volunteer communities.This instant remittance service, powered by RAKBANK in collaboration with Ripple, leverages blockchain technology to mitigate cash vulnerability and enhance access to banking services.
Last but not least, the governance track includes incorporating ESG Criteria into RAKBANK's Balanced Scorecard and establishing clear ESG Governance within the entity.As a result of this complex road map, the company is going to accomplish a sustainability status aligned with the United Nations' Sustainable Development Goals and the Global Reporting Initiative.
In the last months, a number of blockchain heavyweights released documents focused on integration of ESG elements into tech development and marketing strategies. For instance, BlackRock, one of the largest asset management firms in the U.S., reaffirms its commitment to
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