Abu Dhabi Commercial Bank (ADCB) has been honored by the UAE government for its exceptional commitment to sustainability and social impact. The bank has received the Platinum Tier Impact Seal from Majra, the National CSR Fund.
This federal recognition certifies, assesses, and rewards organizations in the UAE that demonstrate outstanding sustainable practices in line with environmental, social, and governance (ESG) criteria, the UN Sustainable Development Goals (SDGs), and national priorities.
The award ceremony, presided over by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, celebrated ADCB’s accomplishment alongside 15 other distinguished UAE companies.
ADCB Group Chief Executive Officer Ala’a Eraiqat commented: “In this Year of Sustainability in the UAE, the government is setting a progressive agenda for decarbonisation, economic diversification, and social inclusion while playing a leading role globally in combating climate change by hosting the COP28 conference. It is crucial for the private sector, and in particular major financial institutions, to play a full part in this important journey. ADCB is honoured to have been recognised for its sustainability and social impact agenda by Majra, the National CSR Fund. With sustainability now embedded within our corporate strategy, ADCB has demonstrated its commitment to creating a positive impact on society.”
ADCB has taken a holistic approach to ESG in recognition of the close relationships between environment, communities, public policy, economic growth and financial inclusion.
In the last year, the Bank has adopted a Group Sustainability Policy and an Environmental and Social Risk Management (ESRM) Policy, and issued its inaugural green bond to support financing of renewable and clean energy projects. ADCB has also made strong progress in Emiratisation, with UAE nationals accounting for 38 percent of the Bank’s workforce, and has further increased support for the SME sector, with the Bank now having more than 65,000 active SME and micro-business clients in its portfolio.
ADCB has the highest ESG rating among diversified banks in the region from two of the world’s leading ESG rating agencies, MSCI ESG Ratings and Sustainalytics.
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