Today's Edition
ABU DHABI (ALETIHAD)
First Abu Dhabi Bank (FAB) has become the first bank in the MENA region to publish its report aligned with the Taskforce on Nature-related Financial Disclosures (TNFD) framework, leading the way in strengthening sustainability in banking.
This milestone underscores FAB’s commitment to integrating sustainability into its financial and operational strategies, supporting local initiatives like the UAE’s National Carbon Sequestration Project and global efforts like the Kunming-Montreal Global Biodiversity Framework.
FAB’s TNFD-aligned report details the bank’s approach to measuring, mitigating, and managing nature-related impacts and dependencies.
FAB has proactively demonstrated its commitment to sustainability and environmental stewardship through various impactful initiatives. The bank financed Sharjah’s first waste-to-energy facility, which diverts over 300,000 tonnes of municipal solid waste from landfills annually while generating up to 30 MW of electricity for the local grid.
The bank joined the Mastercard Priceless Planet Coalition in supporting the planting of 100 million trees. Additionally, the bank is committed to restore marine ecosystems by deploying 100 square metres of reef tiles in UAE waters.
Hana Al Rostamani, Group Chief Executive Officer at FAB, said: “This report marks a further progression in our commitment to sustainability. As nature faces unprecedented challenges, we recognise our responsibility to support a nature-positive future by aligning financial practices with environmental resilience.
"Ensuring transparency through nature-related disclosures is a reflection of our continued dedication to driving sustainable progress for our clients, communities, and the UAE. As the first financial institution in the MENA region to publish a TNFD-aligned report, we are setting a precedent and demonstrating the UAE’s leadership in this critical arena.”
