Latest news with #MohamedAbdelbary
Bloomberg
5 days ago
- Business
- Bloomberg
ADIB GCEO: Mid East Economy Resilience Not Surprising
Abu Dhabi Islamic Bank, ADIB, reported net income for the second quarter of AED 1.78 billion up 13% Y/Y. The lender also had a strong first half, with net income climbing 15% in comparison to 2024. Mohamed Abdelbary, Group CEO of ADIB spoke to Horizons Middle East and Africa anchor Joumanna Bercetche on the numbers & the reaction to the geopolitical volatility in markets. (Source: Bloomberg)
Arabian Business
07-07-2025
- Business
- Arabian Business
Abu Dhabi Islamic Bank mobilises $4.63bn in sustainable finance, leads region in green sukuk
Abu Dhabi Islamic Bank (ADIB) announced it has mobilised AED17bn ($4.63bn) in sustainable finance by the end of 2024, marking major progress toward its AED60bn ($16.3bn) commitment by 2030. The milestone was detailed in the bank's newly released 2024 Sustainability Report, which outlines ADIB's environmental, social, and governance (ESG) progress in line with the UAE Net Zero 2050 and UAE 2031 national strategies. ADIB became the first Islamic bank in the region to publish sector-specific financed emissions targets, focusing on six high-emission sectors including real estate, utilities, and home finance. Abu Dhabi Islamic Bank These interim 2030 targets align with IEA Net Zero scenarios and the UAE's national decarbonisation goals. The report also showcases ADIB's: Double materiality assessment aligned with European Sustainability Reporting Standards (ESRS) First Green Sukuk allocation and impact report for its $500m green issuance Allocation of 90 per cent of Green Sukuk proceeds toward renewable energy, energy efficiency, and sustainable water infrastructure, resulting in 607,000 tonnes of avoided annual emissions Mohamed Abdelbary, Group Chief Executive Officer at Abu Dhabi Islamic Bank, said: 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. 'Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future'. Abu Dhabi Islamic Bank reported an 87 per cent reduction in Scope 1 emissions and a 3.51 per cent drop in Scope 2 emissions compared to 2022. These gains are attributed to continued investments in energy efficiency, electrification, and operational optimisation. The bank's double materiality approach ensures that it evaluates not only how sustainability affects business performance but also how ADIB's operations impact people, planet, and economy—in line with global best practice for corporate sustainability disclosures. Beyond environmental goals, ADIB strengthened its social impact commitments:
Gulf Today
07-07-2025
- Business
- Gulf Today
ADIB advances sustainable finance agenda with Dhs17.3 billion in sustainable finance mobilised
Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over Dhs17 billion in sustainable finance as of year-end 2024, marking continued progress toward its Dhs60 billion sustainable finance commitment by 2030. This update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 vision. This year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 targets. These cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. As part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and people. ADIB's Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance issues. ADIB also published its inaugural Green Sukuk allocation and impact report for its US$500 million Green Sukuk issuance. As of December 2024, 90 percent of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided emissions. Operationally, ADIB reported an 87 percent drop in Scope 1 emissions compared to 2022 and a 3.51 per cent reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the Group. Commenting on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future. Abdelbary added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44 percent Emiratisation rate, with women comprising 72 per cent of UAE national hires and 39 per cent of the total workforce. WAM
Al Etihad
07-07-2025
- Business
- Al Etihad
ADIB advances sustainable finance agenda with Dh17.3 billion in sustainable finance mobilised
7 July 2025 19:23 ABU DHABI (WAM) Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over Dh17 billion in sustainable finance as of year-end 2024, marking continued progress toward its Dh60 billion sustainable finance commitment by update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance also published its inaugural Green Sukuk allocation and impact report for its $500 million Green Sukuk issuance. As of December 2024, 90% of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided ADIB reported an 87% drop in Scope 1 emissions compared to 2022 and a 3.51% reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44% Emiratisation rate, with women comprising 72% of UAE national hires and 39% of the total workforce.
TECHx
07-07-2025
- Business
- TECHx
ADIB Reports AED 17B in Sustainable Finance by 2024
Home » Emerging technologies » Fintech » ADIB Reports AED 17B in Sustainable Finance by 2024 Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over AED 17 billion in sustainable finance by the end of 2024. This marks continued progress toward its AED 60 billion sustainable finance goal by 2030. The announcement was made alongside the release of ADIB's 2024 Sustainability Report. The report outlines key developments in climate alignment, ESG governance, and inclusive growth. These efforts align with the UAE Net Zero 2050 strategy and UAE 2031 vision. ADIB revealed that it is the first Islamic bank in the region to set interim 2030 financed emissions targets. These sector-specific targets cover six high-emission sectors, including: Real estate Utilities Home finance The targets are aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. To ensure alignment with international best practices, ADIB conducted a double materiality assessment. This was done in accordance with the European Sustainability Reporting Standards (ESRS). The assessment evaluated both financial and societal impacts of its activities. The bank noted that the double materiality approach helped identify material impacts, risks, and opportunities across economic, environmental, and social domains. ADIB also confirmed the assessment addressed all ESRS topical standards. In addition, ADIB published its first Green Sukuk allocation and impact report. This followed its USD 500 million Green Sukuk issuance. As of December 2024, 90% of proceeds have been allocated to projects in: Renewable energy Energy efficiency Sustainable water infrastructure These projects are estimated to contribute to over 607,000 tonnes of avoided annual emissions. Operationally, ADIB reported significant reductions in its own emissions. Scope 1 emissions dropped by 87% compared to 2022. Scope 2 emissions saw a 3.51% decrease. These improvements stem from investments in electrification, energy efficiency, and operational optimisation. Commenting on the report, Mohamed Abdelbary, Group CEO at ADIB, said the bank is placing sustainability at the core of its 2035 vision. He stated that ADIB is supporting the economic transition through responsible financing. He added that the bank's disclosures highlight its commitment to ethical, inclusive, and climate-aligned banking. He emphasized ADIB's leadership in Green Sukuk and sectoral decarbonisation. Abdelbary also noted that the double materiality assessment supports decision-useful disclosure. It enables ADIB to understand both how sustainability affects its business and how its business affects the wider environment and society. Social impact was another key area of progress. ADIB achieved a 44% Emiratisation rate. Women represented 72% of UAE national hires and 39% of the total workforce. The bank reported an average of 62 training hours per employee. It also partnered with over 140 community organisations to support financial inclusion, education, and social welfare. ADIB continues to receive strong ESG ratings. These include: 'AA' rating from MSCI Score of 74 from LSEG ESG Score of 41 from DJSI These scores reflect the bank's leadership in responsible finance. ADIB was also recognised as the Best Islamic Bank for ESG by Global Finance and MEED.
