FAB publishes landmark TNFD report, leading MENA region in nature-related financial disclosures

Abu Dhabi, 21 January 2025: First Abu Dhabi Bank (FAB) has become the first bank in the MENA region to publish its report aligned with the Taskforce on Nature-related Financial Disclosures (TNFD) framework, leading the way in strengthening sustainability in banking.

This milestone underscores FAB’s commitment to integrating sustainability into its financial and operational strategies, supporting local initiatives like the UAE’s National Carbon Sequestration Project and global efforts like the Kunming-Montreal Global Biodiversity Framework.

FAB’s TNFD-aligned report details the bank’s approach to measuring, mitigating, and managing nature-related impacts and dependencies and include the following key initiatives:

• Locating and assessing nature impacts and dependencies by leveraging geo-location data for material industries and clients while monitoring the bank’s operational impact through metrics such as water consumption and waste production. Additionally, nature-related considerations will be integrated into ESG assessment questionnaires for relevant clients to ensure comprehensive risk evaluation
• Strengthening the Sustainable Finance Framework by incorporating additional nature-related projects and key performance indicators while exploring the development of nature-focused financial products. This includes monitoring client impact and maturity on nature-focused metrics and embedding nature considerations into broader client engagement
• Participating in global industry working groups, contributing to the development of nature-related metrics and publishing thought leadership and white papers to enhance understanding and capacity on nature-related risks and opportunities for internal and external stakeholders

FAB has proactively demonstrated its commitment to sustainability and environmental stewardship through various impactful initiatives. The bank financed Sharjah’s first waste-to-energy facility, which diverts over 300,000 tonnes of municipal solid waste from landfills annually while generating up to 30 MW of electricity for the local grid.

The bank joined the Mastercard Priceless Planet Coalition in supporting the planting of 100 million trees. Additionally, the bank committed to restore marine ecosystems by deploying 100 square meters of reef tiles in UAE waters.

Hana Al Rostamani, Group Chief Executive Officer at FAB, said: “This report marks a further progression in our commitment to sustainability. As nature faces unprecedented challenges, we recognise our responsibility to support a nature-positive future by aligning financial practices with environmental resilience. Ensuring transparency through nature-related disclosures is a reflection of our continued dedication to driving sustainable progress for our clients, communities, and the UAE. As the first financial institution in the MENA region to publish a TNFD-aligned report, we are setting a precedent and demonstrating the UAE’s leadership in this critical arena.”