First Abu Dhabi Bank (FAB) has emerged as the Middle East's leader in sustainable private banking courtesy of its pioneering climate initiatives and robust ESG integration across operations and client offerings.
As the first bank in the region to adopt Task Force on Climate-Related Financial Disclosure (TCFD) recommendations, FAB published a comprehensive report in 2023 outlining its progress across governance, strategy and risk management. It was also the first bank globally to sign the COP28 net-zero transition charter, highlighting its regional leadership.
Sustainable and transition financing facilitated by the bank reached Dh216 billion ($58.8 billion) at the end of the awards period – close to half way to its 2030 target of Dh500 billion. The bank has $3.2 billion in green bonds and sukuk outstanding. A founding member of the UAE Carbon Alliance, it has set net-zero targets covering 90% of its financed emissions.
For private banking clients, First Abu Dhabi Bank introduced its first ESG-oriented fund managed by its Swiss private banking business.