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Environmental


Transitioning to a Low
Carbon Future

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).

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)

-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

58%

Reduction in overall waste generation

Etihad Airways

USD 1.2 billion Sustainable Linked Loan for Etihad Airways PJSC

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Read more about Etihad Airways
Read more about Etihad Airways
Read more about Etihad Airways

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).

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Read more about the Impact of the First Green Bond in the Region
Read more about the Impact of the First Green Bond in the Region
Read more about the Impact of the First Green Bond in the Region

Debut Green Term Loan

‘Debut Green Term Loan’ and Murabaha Facility for Ministry of Finance, Egypt

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Read more about  Debut Green Term Loan
Read more about  Debut Green Term Loan
Read more about  Debut Green Term Loan