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UAE

Engaging with our stakeholders and creating empowering alliances

Stakeholder Engagement

stakeholder-engagement

As part of our commitment to sustainability, it is essential that we form positive relationships with our stakeholders and promote constant engagement.

We recognise that by working in partnership we can achieve greater results and impact on issues of importance. These partnerships and alliances address issues such as social and community, the environment and the economy in the UAE, the countries where we have a presence and in locations where we believe we can make a difference.

We both support and participate in national councils and committees which include:

  • UAE Private Sector Advisory Council on the SDGs (Sustainable Development Goals)
  • UAE Council on Climate Change and the Environment
  • ADGM Sustainable Finance Consultative Working Group

stakeholder-engagement

Alliances and Coalitions

By engaging with our stakeholders, we can better understand and act on their material concerns and requirements as they align to our core business.

We form alliances and coalitions with stakeholders who can help us achieve positive social and environmental results.

Stakeholder Materiality Assessment Overview


stakeholder-engagement

1. Responsible lending and investing

2. Governance, business ethics and compliance

3. Business continuity

4. Employee wellbeing

5. Socially responsible procurement

6. Financial inclusion and accessibility

7. Systemic risk management

8. Talent attraction and retention

9. Learning and development

10. Digitalisation

11. Customer privacy and data security

12. Diversity and inclusion

13. Community investment and socio-economic development

14. Emiratisation

15. Customer experience

16. Disruptive innovation

17. Direct environmental impacts of operations

18. Anti-money laundering and anti-corruption

19. Financial performance


Changes from 2019


Material Topic 2020 Rank Cumulative Score Changes from 2019
Financial Performance* 1 8.34 =
Responsible lending & investing* 2 8.33 +4
Employee wellbeing* 3 7.13 +7
Governance, business ethics & compliance* 4 6.97 -1
Customer Experience 5 6.18 =
Systematic risk management 6 6.15 -4
Financial inclusion & accessibility 7 5.82 +1
Customer privacy & data security 8 5.55 -4
Digitalisation 9 5.39 +2
Diversity & inclusion 10 4.95 +2
Emiratisation 11 4.76 +3
Business Continuity 12 4.72 new
Talent attraction & retention 13 4.41 -4
Anti-money laundering & anti-corruption 14 4.39 -7
Community investment & socio-economic development 15 4.29 =
Direct environmental impacts of operations 16 4.22 -3
Learning & development 17 4.01 new
Socially responsible procurement 18 2.66 -2
Disruptive innovation 19 2.31 new
*GRI compliance required

Summary & Findings



The influence of COVID 19 is evident as a result of the increase in topics such as:

  • Employee Wellbeing
  • Digitalisation
  • Diversity & Inclusion

Responsible lending and investing has gained prominence thanks to an increased awareness about its importance and the launch of FAB’s sustainable finance products.

Anti money laundering and corruption had the biggest drop in terms of level of importance, some reasons may be:

  • The topic was not commonly reported in other banks, likely as it may fall under the wider groups of 'conduct' and 'governance'
  • Stakeholders may feel FAB is already well versed in this topic and didn't regard it as important as some of the others

Climate change was noted by several of the stakeholders. This topic is embedded across several material issues.


stakeholder-engagement
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