First Abu Dhabi bank

RATING

SECTOR

Banking 

WEBSITE

CONTACT

FAB Head Office Building, Khalidiya Street

6316 Abu Dhabi

UNITED ARAB EMIRATES

T:   +971504434857

STOCK EXCHANGE

LISTING

  • “B-score” by CDP in 2018
  • MSCI Emerging Markets Index
  • FTSE4Good Emerging Index

EMPLOYEES

5,400

CHIEF SUSTAINABILITY OFFICER

Belinda Scott

AWARDS

 Green Bond Pioneer Award

CONTENT SOURCE

FURTHER READING

First Abu Dhabi bank

SECTIONS :  Sustainability    Evaluation  •  Highlights  •  Watch  •  Overview

Company Activity

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across countries in which the bank operates.

To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger.

Company Sustainable Activity

According to the company:

“Sustainability is integral to FAB’s corporate strategy and our vision of creating value for our stakeholders. Our sustainability efforts are tied to our business performance, brand success and overall reputation. 

As the UAE’s largest bank, we have a particular responsibility as a corporate citizen toward the economy, the environment and society. We, therefore, take a comprehensive approach to sustainability. Our Sustainability Framework, created in 2017 with the launch of our newly merged organisation, is anchored on four pillars: In each of these pillars, we focus on issues that matter to our stakeholders. 

We have created policies, programs and initiatives to ensure that sustainability is embedded in our corporate culture and decision-making and is practised across all our businesses. We seek to respond to emerging key issues through our sustainability framework which goes hand in hand with FAB’s corporate strategy. Together, they guide the bank in making sound decisions, managing risks and driving sustainable action.

Sustainability Governance 

  • FAB’s senior management team is committed to sustainability and oversight of the bank’s progress. The Executive Committee is involved in the sustainability reporting process and reviews the bank’s annual ESG report. 
  • The Corporate Sustainability team guides and implements the bank’s sustainability strategy. The team also tracks performance and reports on progress by collaborating with leadership and business units across the organisation. 
  • A group-wide Sustainability Policy sets out broad principles for taking a precautionary and responsible approach to business. 

Our support of national and global sustainability aspirations distinguishes FAB from our regional peers, as we lead to action to improve the wellbeing of present and future generations. We voluntarily measure, monitor, benchmark and report our performance against a number of leading sustainability initiatives to drive better performance in ESG issues.

Targets:

  • Continue to identify opportunities and provide finance which supports responsible social and environmental programmes and projects in line with FAB’s sustainability commitments
  • Development of the ISO 14001:2015 Environmental Management System 
  • Launch paperless office strategy 
  • Extend printer cartridge recycling programme across FAB UAE locations 
  • Implement new waste management system to comply with local regulations and best practices in UAE”

Certificates

  • LEED Silver Certification
  • LEED Gold Certification
  • BREEAM Excellent Rating HQE Exceptional Grade
  • ISO 14064-3 standard for greenhouse gas (GHG) emissions verification
  • ISO 45001

Sustainable Development Goals

How company covers SDGs

According to FAB

“Our support of national and global sustainability aspirations distinguishes FAB from our
regional peers, as we lead action to improve the wellbeing of present and future generations.
We voluntarily measure, monitor, benchmark and report our performance against a number
of leading sustainability initiatives to drive better performance in ESG issues.

Sustainable banking (SDG 5, 8, 9, 10, 11, 12, 13 and 17) 
To achieve long-term success in today’s financial world, we believe that taking a responsible approach to banking is paramount.

Responsible employment (SDG 3, 4, 5, 8, 10, and 17) 
Our outstanding team of talented and empowered individuals is the foundation for our current success and the key to our future.

Positive social impact (SDG 4, 8, 9, 11, 12, and 13)
We strive to be a respected community partner that understands local needs and shapes long-term relationships.

Governance, integrity and risk management (SDG 16 and 17)
Our strong governance framework creates the parameters for responsible management, accountability and decisionmaking at FAB, while assuring the highest ethical behaviour in everything we do.”

learn more on their sustainability report 

 

Highlights

According to FAB :

their achievements:

  • “In 2018, water consumption decreased by 30% year-over-year due to new sensors installed on taps to better control water use. 
  • Electricity and petrol consumption decreased by 26% and 65%, respectively. However, diesel consumption went up from the previous year due primarily to the opening of our new global data centre
  • 35% Of all management positions were held by women
  • AED37.5 million In donations and sponsorships to grow stronger communities
  • We developed and released a new Corporate Governance Framework across our national and global footprint to create consistency in governance across FAB, with an increased focus on the oversight of our international operations.”

First Abu Dhabi Bank believes in ‘urgency and action’ and has been proactive in their sustainable responsibility since 2017. FAB has a specialized position for head of corporate sustainability and follows 11 of the 17 U.N. SDGs which they are contributing towards achieving. In addition, FAB has a few recognized awards such as LEEDs silver and gold certifications. FAB’s reporting of their sustainability efforts is clear and informative.

Videos

N/A

Share this Post