First Abu Dhabi BankFirst Abu Dhabi Bank P.J.S.C
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At FAB, we have formally integrated new committees and teams to the existing governance structure to be aligned with the Group’s recently launched ESG Strategy. The sustainability policy sits within our Board Risk and Compliance Committee (BRCC) who guide and implement the Group’s Sustainability vision. The Committee is the highest authority on ESG performance that monitors and reports on progress by engaging with leadership and business lines across the organisation. The sustainability policy feeds up into the Group ESG Committee (G-ESGC) with the Group CEO having oversight of the actions and activities relating to sustainability, climate change and ESG. On a functional level, the G-ESGC is supported by ESG and Sustainable Finance Committee (ESG-SFC) that converts policies and board directions into ESG strategies and monitors the ESG performances of business lines and support functions.
The main topics of concern related to the governance category are as follows:
The Group adopts a holistic approach in integrating ESG risks starting with raising the level of ESG awareness and preparedness, developing a sound ESG risk governance structure and responsibilities, and developing tools and methods to identify, assess, manage, and report on ESG risks.
Enabler(s): Establish an ESG driven culture across the organization
Enabler(s): Systems, tools, policy, and board and senior management sponsorship
ESG risks repository from relevant legislations and international guidelines that apply to the Group’s operations (e.g. CBUAE, BoE, MAS).
An ESG risks taxonomy map for direct and indirect impacts on the Group’s principal risk categories (e.g. credit, market, liquidity, compliance, operational etc.).
A list of ESG risks are identified and updated annually through two dimensions
The ESG risk appetite is aligned with the Group’s risk appetite framework It includes quantitative and qualitative criteria that sets the Group’s tolerance to ESG risks.
Net zero transition
Climate adaptation and resilience