ADCB recognized by the UAE government as a leader in sustainability and social impact
Abu Dhabi, 13 June 2023
Abu Dhabi Commercial Bank (ADCB) has been recognized by the UAE government for the Bank’s strong track record in sustainability and social impact, receiving the Impact Seal “Platinum Tier” from Majra, the National CSR Fund.
The Impact Seal is the official federal recognition that certifies, measures, and rewards organizations in the UAE with leading sustainable impact practices aligned with environmental, social, and governance (ESG) criteria, the UN Sustainable Development Goals (SDGs), and national priorities.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai presided over the award ceremony, where ADCB was one of 16 UAE companies to receive the prestigious accolade.
ADCB Group Chief Executive Officer Ala’a Eraiqat commented: “In this Year of Sustainability in the UAE, the government is setting a progressive agenda for decarbonization, economic diversification, and social inclusion while playing a leading role globally in combating climate change by hosting the COP28 conference. It is crucial for the private sector, and in particular major financial institutions, to play a full part in this important journey. ADCB is honored to have been recognized for its sustainability and social impact agenda by Majra, the National CSR Fund. With sustainability now embedded within our corporate strategy, ADCB has demonstrated its commitment to creating a positive impact on society.”
ADCB has taken a holistic approach to ESG in recognition of the close relationships between the environment, communities, public policy, economic growth, and financial inclusion.
In the last year, the Bank has adopted a Group Sustainability Policy and an Environmental and Social Risk Management (ESRM) Policy and issued its inaugural green bond to support the financing of renewable and clean energy projects. ADCB has also made strong progress in Emiratisation, with UAE nationals accounting for 38% of the Bank’s workforce, and has further increased support for the SME sector, with the Bank now having more than 65,000 active SME and micro-business clients in its portfolio.
ADCB has the highest ESG rating among diversified banks in the region from two of the world’s leading ESG rating agencies, MSCI ESG Ratings and Sustainalytics.
For further information, please see the designated ADCB ESG website adcb.com/esg.
