Abu Dhabi Islamic Financial institution (ADIB) introduced it has mobilised AED17bn ($4.63bn) in sustainable finance by the tip of 2024, marking main progress towards its AED60bn ($16.3bn) dedication by 2030.
The milestone was detailed within the financial institution’s newly launched 2024 Sustainability Report, which outlines ADIB’s environmental, social, and governance (ESG) progress consistent with the UAE Internet Zero 2050 and UAE 2031 nationwide methods.
ADIB grew to become the primary Islamic financial institution within the area to publish sector-specific financed emissions targets, specializing in six high-emission sectors together with actual property, utilities, and residential finance.
Abu Dhabi Islamic Financial institution
These interim 2030 targets align with IEA Internet Zero eventualities and the UAE’s nationwide decarbonisation targets.
The report additionally showcases ADIB’s:
- Double materiality evaluation aligned with European Sustainability Reporting Requirements (ESRS)
- First Inexperienced Sukuk allocation and impression report for its $500m inexperienced issuance
- Allocation of 90 per cent of Inexperienced Sukuk proceeds towards renewable power, power effectivity, and sustainable water infrastructure, leading to 607,000 tonnes of averted annual emissions
Mohamed Abdelbary, Group Chief Government Officer at Abu Dhabi Islamic Financial institution, stated: “Placing sustainability on the coronary heart of what we do is likely one of the three key pillars of our 2035 imaginative and prescient. We’re pleased with the progress we’re making, and the way we’re utilizing our financing to contribute to the transition of our clients and the economic system.
“Our newest sustainability disclosures mirror our steadfast dedication to moral, inclusive, and climate-aligned banking. From main the area in inexperienced sukuk to setting the benchmark on sectoral decarbonisation, we’re taking decisive steps towards a low-carbon future”.
Abu Dhabi Islamic Financial institution reported an 87 per cent discount in Scope 1 emissions and a 3.51 per cent drop in Scope 2 emissions in comparison with 2022.
These beneficial properties are attributed to continued investments in power effectivity, electrification, and operational optimisation.
The financial institution’s double materiality method ensures that it evaluates not solely how sustainability impacts enterprise efficiency but additionally how ADIB’s operations impression folks, planet, and economic system—consistent with world greatest follow for company sustainability disclosures.
Past environmental targets, ADIB strengthened its social impression commitments:
- 44 per cent Emiratisation charge achieved
- 72 per cent of UAE nationwide hires in 2024 have been girls
- Girls now signify 39 per cent of ADIB’s whole workforce
