emirates7 - Abu Dhabi Islamic Bank (ADIB) has released its first comprehensive Net Zero report, detailing its efforts to reduce carbon emissions from both its operations and financed activities. This makes ADIB the first commercial Islamic bank in the region to set sector-specific decarbonization targets for 2030. The report includes an assessment of the bank’s 2022 emissions and sets clear goals for reducing emissions by 49% in its operations by 2030, compared to the 2022 baseline.
Aligned with the UAE's Net Zero by 2050 initiative and global sustainability standards, ADIB’s report outlines strategies and progress toward achieving its carbon reduction targets. It also identifies specific pathways for reducing emissions in six key sectors within its financing portfolio—home finance, auto finance, real estate, air transport, utilities, and petroleum manufacturing—which together account for 40% of the bank’s financed emissions in the UAE.
Mohamed Abdelbary, ADIB’s Group CEO, emphasized the bank’s commitment to addressing climate change and supporting the UAE’s national sustainability goals. He noted that the Net Zero report reflects ADIB’s proactive approach to assessing and reducing emissions, emphasizing transparency and accountability in its efforts. He also stressed the importance of engaging with customers and partners to help overcome financial barriers to decarbonization by mobilizing green and transition finance.
The report includes detailed data on ADIB’s decarbonization strategy, using the Partnership for Carbon Accounting Financials (PCAF) for financed emissions and the GHG Protocol for operational emissions. The release of this report marks a key step in ADIB’s sustainability journey, with plans to continue monitoring progress, refining strategies, and working with stakeholders to drive positive change in the banking sector.
Aligned with the UAE's Net Zero by 2050 initiative and global sustainability standards, ADIB’s report outlines strategies and progress toward achieving its carbon reduction targets. It also identifies specific pathways for reducing emissions in six key sectors within its financing portfolio—home finance, auto finance, real estate, air transport, utilities, and petroleum manufacturing—which together account for 40% of the bank’s financed emissions in the UAE.
Mohamed Abdelbary, ADIB’s Group CEO, emphasized the bank’s commitment to addressing climate change and supporting the UAE’s national sustainability goals. He noted that the Net Zero report reflects ADIB’s proactive approach to assessing and reducing emissions, emphasizing transparency and accountability in its efforts. He also stressed the importance of engaging with customers and partners to help overcome financial barriers to decarbonization by mobilizing green and transition finance.
The report includes detailed data on ADIB’s decarbonization strategy, using the Partnership for Carbon Accounting Financials (PCAF) for financed emissions and the GHG Protocol for operational emissions. The release of this report marks a key step in ADIB’s sustainability journey, with plans to continue monitoring progress, refining strategies, and working with stakeholders to drive positive change in the banking sector.