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Sustainable Finance

Our approach to Sustainable Finance

Our Sustainable Financing Framework defines our classification approach and methodology for allocating FAB’s financial products and services (including but not limited to debt and equity capital markets, corporate lending and consumer lending or Islamic Finance) as sustainable or transition finance to support activities and products aimed at addressing environmental and socially responsible issues.


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Sustainable Financing Framework

In 2021, we launched our new Environmental Social & Governance (ESG) Strategy designed to accelerate our growth in areas that are most pertinent to emerging sustainability opportunities and challenges. As part of our strategy, we have committed to lend, invest and facilitate business of USD 75 billion by 2030 to activities focused on environmental and socially responsible solutions.

Governance

FAB has a dedicated ESG and Sustainable Finance Committee (ESG-SFC) who are responsible for assessing and classifying finances as sustainable/transition in compliance with the requirements of our Sustainable Finance Framework. Every transaction in the bank is reviewed before credit approval from an ESG perspective, which includes assessment for ESG risks as defined in FAB’s ESG Risk Framework and Policy, after which it undergoes additional review for eligibility to be classified as sustainable finance based on the classification criteria set out in this framework.

Reporting

Our Sustainable Finance Framework is FAB’s basis for tracking and reporting our performance against our sustainable finance commitment to lend, invest, and facilitate business of USD 75 billion by 2030 to activities focused on environmental and socially responsible solutions. Annual update on progress against target and any sustainable financing classifications based on this framework will be reported by FAB annually in our Sustainable Finance Report and ESG Report. Although our Sustainable Finance Framework enables us to classify and label qualifying financing under ‘transition finance’, this is not included as progress against our sustainable financing target and will be reported separately.


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First Abu Dhabi Bank

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