Emirates NBD (ENBD) has made a second investment in Turkish climate fintech startup Erguvan, according to a statement released on Thursday. No financial details on ENBD’s investment were disclosed. Erguvan secured funding via ENBD for carbon credits valued at USD 7.3 mn in a seed round last month.

Where’s the money coming from? The investment was made by Deniz Ventures under the umbrella of ENBD’s Innovation Fund — the bank’s USD 100 mn corporate venture capital arm — launched earlier this year to finance fintech and sustaintech companies in the leading lender’s key markets.

What does Erguvan do? The startup provides a B2B marketplace for environmental commodities and API-based carbon accounting software solutions tailored to financial institutions and corporations, according to their website.

More about The Innovation Fund? The fund was established last June with the idea of channeling investments into strategically relevant fintech, sustain-tech, and startups in the Middle East, North Africa, and Turkey, the fund said. ENBD has also invested in Swiss fintech Komgo via the Innovation fund, according to a press release.