USD 1.2 billion Sustainable Linked Loan for Etihad Airways PJSC
Transitioning to a Low Carbon Future
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.
Our sustainability commitments
Net Zero Banking Alliance
UN Environment Programme Finance Initiative (UNEP FI) and the Principles for Responsible Banking (PRB)
Carbon Disclosure Project (CDP)
Equator Principles
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
Scope 1*:
Direct combustion of fuels and refrigerants (globally, and UAE).
Scope 2:
Location based purchased electricity for own use (globally and UAE).
Scope 3:
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)
-31%
Reduction in overall emissions per employee
-62%
Reduction in overall emissions per employee
+15%
Increase Scope 2 due to consolidation of Bank Audi, where 1600 employees were transferred to the Group
-67%
Reduction in overall Scope 3 emissions (excluding financed emissions)
Waste Generation (2021 Compared to 2019)
58%
Reduction in overall waste generation