Abu Dhabi Islamic Bank has made strides toward its sustainability goals by mobilizing $4.63 billion by end-2024. Its comprehensive Sustainability Report highlights ESG advancements aligning with UAE national strategies while also focusing on improving workplace diversity.

Abu Dhabi Islamic Bank (ADIB) has announced a significant achievement in its sustainable finance efforts, having mobilized AED17 billion ($4.63 billion) by the end of 2024. This marks substantial progress toward its ambitious goal of AED60 billion ($16.3 billion) in sustainable financing by the year 2030.

Detailed in ADIB’s newly published 2024 Sustainability Report, this milestone underscores the bank's advancement in environmental, social, and governance (ESG) initiatives as aligned with both UAE Net Zero 2050 and UAE 2031 national strategies.

Notably, ADIB has set a precedent by becoming the first Islamic bank in the region to publish sector-specific financed emissions targets for six high-emission sectors such as real estate, utilities, and home finance.

Abu Dhabi Islamic Bank

The interim targets for 2030 are designed to align with IEA Net Zero scenarios and reflect the UAE’s commitment to decarbonization.

The report highlights several key achievements:

  • A double materiality assessment aligned with European Sustainability Reporting Standards (ESRS).
  • The first Green Sukuk allocation and impact report for its $500 million green issuance.
  • An allocation of 90 percent of Green Sukuk proceeds towards renewable energy, energy efficiency, and sustainable water infrastructure projects resulting in an annual avoidance of 607,000 tonnes of emissions.

Mohamed Abdelbary, Group Chief Executive Officer at Abu Dhabi Islamic Bank, expressed his pride in these accomplishments: “Embedding sustainability into our core operations is a pivotal pillar of our vision for 2035. The strides we are making demonstrate how we leverage our financial resources to facilitate both customer transitions and broader economic shifts.”

"Our latest sustainability disclosures showcase our unwavering commitment to ethical banking practices that are inclusive and aligned with climate goals," he added. "From leading the region in green sukuk issuance to setting benchmarks in sectoral decarbonization efforts, we are firmly committed to advancing towards a low-carbon future."

In terms of emissions reductions, ADIB reported an impressive drop-a reduction of 87 percent in Scope 1 emissions and a decrease of 3.51 percent in Scope 2 emissions compared to the previous year. These improvements were achieved through ongoing investments aimed at enhancing energy efficiency, promoting electrification, and optimizing operations.

In addition to environmental targets, ADIB has strengthened its commitments on social impacts:

  • Achieving a 44 percent Emiratisation rate within its workforce.
  • A notable hiring trend where women accounted for 72 percent of UAE national recruits during 2024.
  • An increased representation of women across ADIB's total workforce now standing at 39 percent.