FAB Recognised by CDP as Top UAE Financial Institution Fighting Climate Change

First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, received a B score by CDP for its commitment to stemming climate change, and its high level of disclosure of climate change performance, making it the highest-scoring UAE financial institution for the second year in a row.

CDP, formerly known as the Carbon Disclosure Project, runs a global disclosure system that FAB uses to measure and help manage its impact on the environment.  CDP has a network of investors and purchasers overseeing over $100 trillion, along with policymakers from across the globe, who use the data to help make investment decisions. 

Belinda Scott, VP and Head of Corporate Sustainability at FAB, said: “Climate change is, without doubt, a growing threat to the world we live in. Under the Paris Climate Agreement, signatory governments are committed to taking action to remain well below a two-degree rise in global temperatures from pre-industrial levels. As the UAE’s largest bank we have a clear duty to conduct our business responsibly, support the country’s sustainability commitments and create economic, social and environmental value for our stakeholders. Our B-score this year is a fantastic achievement, especially as CDP upgraded the scoring process to make it more stringent.”

FAB is a signatory to the Abu Dhabi Sustainable Finance Declaration, which was launched on 16 January 2019 and comprises 25 high-profile UAE government and private sector members. The declaration, initiated by Abu Dhabi Global Markets, is an extension of the continuing cooperation between public and private sectors to establish a healthy sustainable finance industry.