Sustainable finance came under intense scrutiny across the Middle East when COP28 took place in Dubai last year.
Euromoney’s best private bank in the Middle East for sustainability – First Abu Dhabi Bank – was right there acting as the strategic pathway partner for the conference.
The bank achieved several sustainability firsts during the awards period. It became the first Middle East and North Africa bank to publish a climate report in alignment with the Task Force on Climate-related Financial Disclosures framework and it committed to provide Dh500 billion ($136 billion) in green finance by 2030 – an 80% increase on its previous commitment.
In December, FAB’s wealth management team, led by Michel Longhini, group head of global private banking, launched its first environmental, social and governance-oriented fund for private-banking clients after many conversations with high and ultra-high net-worth individuals worldwide.
The new fund is focused on the UN’s Sustainable Development Goals and opens up sustainable investing opportunities for private-banking clients.