GlobalData offers a comprehensive analysis of Abu Dhabi Islamic Bank, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Abu Dhabi Islamic Bank‘s ESG performance. GlobalData’s company profile on Abu Dhabi Islamic Bank offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Abu Dhabi Islamic Bank (ADIB) has set a goal to achieve net-zero emissions by 2050. Abu Dhabi Islamic Bank's latest filings mentioned the keywords 'Emissions' and 'CO2' most number of times in relation to 'Net Zero'.
ADIB's total greenhouse gas emissions per employee decreased from 11.04 tCO2e in 2021 to 8.15 tCO2e in 2022. The bank's scope 1 emissions decreased from 325.8 tCO2e in 2021 to 297.93 tCO2e in 2022, while scope 2 emissions decreased from 20,112.1 tCO2e in 2021 to 17,268.9 tCO2e in 2022. ADIB has received certifications and awards for its sustainability efforts, including a Gold LEED Award from the US Green Building Council and ISO 45001 certification for occupational health and safety.
To achieve its net-zero emissions goal, ADIB plans to measure its baseline emissions, set emissions reduction targets, and develop business strategies to achieve those targets. The bank also plans to engage with customers to accelerate their transition to a low-carbon future, incorporate ESG as part of vendor sourcing, and foster a diverse and inclusive organization. ADIB has already taken steps to reduce its carbon footprint, including recycling 30% more of its waste and reducing its carbon footprint by 14% in 2022. The bank also plans to upgrade its product range with ESG-enhanced products and integrate ESG analysis into financing and investment products and portfolios.
ADIB's sustainability efforts are guided by the UN Sustainable Development Goals and the UAE's net-zero by 2050 goal. The bank is looking to help build the UAE as a global sustainable finance hub. ADIB is a member of several organizations, including the International Financial Islamic Market, the Accounting and Auditing Organization for Islamic Financial Institutions, and the Islamic Financial Services Board. The bank has also engaged in social responsibility efforts, including financial literacy programs for unbanked, underbanked, or underserved individuals and a 13.5% increase in community giving.
In conclusion, ADIB has set ambitious goals to achieve net-zero emissions and has already taken steps to reduce its carbon footprint. The bank plans to continue its sustainability efforts by upgrading its product range, incorporating ESG analysis into financing and investment products, and fostering a diverse and inclusive organization. ADIB's sustainability efforts are guided by the UN Sustainable Development Goals and the UAE's net-zero by 2050 goal, and the bank is looking to help build the UAE as a global sustainable finance hub.