At FAB, we recognise the significant challenges posed by climate change to the earth, society, and the economy.
We have taken a significant step across our financing activities by joining the NZBA which brings together global banks committed to aligning their lending and investment portfolios with Net Zero emissions by 2050.
FAB is the first bank in the UAE and the GCC to join this group of global financial institutions. This initiative is undertaken as part of the UNEP Finance Initiative (FI launched by the NZBA to create a platform for banking institutions from across 1 world to align their portfolios with Net Zero carbon emissions targets.
FAB's strategy and operations are guided by international and national sustainability policy positions, climate policy frameworks, as well as our Sustainable Finance framework.
UN Environment Programme Finance Initiative (UNEP FI) and the Principles for Responsible Banking (PRB)
Carbon Disclosure Project (CDP)
Task Force on Climate-related Financial Disclosures (TCFD)
Abu Dhabi Vision
UAE Vision 2021
UAE Green Agenda 2015-2030
UN Sustainable Development Goals (SDGs)
Our timeline to Net Zero
Direct environmental impact of operations
Direct combustion of fuels and refrigerants (globally, and UAE).
Location based purchased electricity for own use (globally and UAE).
Water consumption (global and UAE), indirect emissions from business travel (global and UAE), waste generated and recycled (global and UAE), paper consumption (global and UAE).
GHG Emissions (2021 Compared to 2019)
Waste Generation (2021 Compared to 2019)
USD 1.2 billion Sustainable Linked Loan for Etihad Airways PJSC – Ground-breaking transaction where FAB played a lead role advising the company and acted as ESG Structuring Bank, Joint ESG Coordinator and Bookrunner and Mandated Lead Arranger. The facility is the first Sustainability Linked Loan – both regionally and globally in the aviation industry - with all three ESG KPIs linked to reducing CO2 emissions, increasing corporate governance & promoting female participation.
Impact of the First Green Bond in the Region
During its tenure, the project helped finance 13 green projects across UAE, USA, Africa and France in areas of Energy Efficiency, Renewable Energy and Sustainable Water Management (USD 587 million public green bond).
‘Debut Green Term Loan’ and Murabaha Facility for Ministry of Finance, Egypt - FAB played a lead role in analysing the eligibility criteria and advising MoF Egypt on the financing of eligible Green projects under Egypt’s Green Financing Framework (USD 3 billion).