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Al Bawaba
2 days ago
- Business
- Al Bawaba
ADIB Advances Sustainable Finance Agenda with AED 17.3 Billion In Sustainable Finance Mobilised and 2030 Financed Emissions Targets Set
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has reported the mobilisation of over AED 17 billion in sustainable finance as of year-end 2024, marking continued progress toward its AED 60 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 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 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 also published its inaugural Green Sukuk allocation and impact report for its USD 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 ADIB reported an 87 percent drop in Scope 1 emissions compared to 2022 and a 3.51 percent 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 continued to strengthen its social impact agenda in, achieving a 44 percent Emiratisation rate, with women comprising 72 percent of UAE national hires and 39 percent of the total workforce. This progress was supported by an average of 62 training hours delivered per employee and partnerships with over 140 community organisations focused on financial inclusion, education, and social bank continues to receive strong ESG ratings, including an 'AA' from MSCI, 74 from LSEG ESG, and 41 from DJSI. These assessments affirm the bank's leadership in responsible finance. ADIB was recognised as the Best Islamic Bank for ESG by Global Finance and MEED. To view the full report, please visit
Zawya
2 days ago
- Business
- Zawya
ADIB advances sustainable finance agenda with $4.7bln in sustainable finance mobilised
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over AED17 billion in sustainable finance as of year-end 2024, marking continued progress toward its AED60 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 percent 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 percent of UAE national hires and 39 percent of the total workforce.
Zawya
3 days ago
- Business
- Zawya
ADIB advances sustainable finance agenda with AED 17.3bln in sustainable finance mobilised
First Islamic bank in the region to set 2030 financed emissions reduction targets across six high-impact sectors ADIB completes Double Materiality Assessment in accordance with the European Sustainability Reporting Standards (ESRS) UAE, Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has reported the mobilisation of over AED 17 billion in sustainable finance as of year-end 2024, marking continued progress toward its AED 60 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 USD 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 percent 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 percent of UAE national hires and 39 percent of the total workforce. This progress was supported by an average of 62 training hours delivered per employee and partnerships with over 140 community organisations focused on financial inclusion, education, and social welfare. The bank continues to receive strong ESG ratings, including an 'AA' from MSCI, 74 from LSEG ESG, and 41 from DJSI. These assessments affirm the bank's leadership in responsible finance. ADIB was recognised as the Best Islamic Bank for ESG by Global Finance and MEED. To view the full report, please visit -Ends- About ADIB ADIB is a leading bank in the UAE with AED 244 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products. For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes Head of Public Affairs Director of Financial Communications
