MSCI upgrades FAB to ESG leader

Investment research firm MSCI upgraded First Abu Dhabi Bank’s (FAB) environmental, social responsibility and governance rating from A to AA in April, putting it in the ‘leader’ category – in part due to the bank joining Aurora50 as a corporate partner for the Pathway20 boardroom accelerator programme.

MSCI assesses the environmental, social responsibility and governance (ESG) risks of companies, and their ability to manage those risks relative to peers. MSCI ESG ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).

FAB listed its ESG credentials as follows:

• Constituent of the FTSE4Good and MSCI ESG Index
• Awarded the Middle East’s Best Bank for Corporate Responsibility by the Euromoney Awards for Excellence – 2020
• In 2020, CDP upgraded FAB from a B to A- score for the bank’s climate disclosure
• One of the leading banks for green finance and a leading green bond issuer regionally and globally, with FAB Green Bonds outstanding exceeding $1bn
• Corporate partner with Aurora50, a UAE based social enterprise that aims to increase board-level gender diversity.

Hana Al Rostamani, Group Chief Executive Officer, FAB, said: “We are extremely proud of our leading position on ESG in the region and firmly believe that delivering on sustainability is an important contributing factor in our goal to generate long-term value for all our stakeholders.”

Aurora50 co-founder Diana Wilde said: “We are extremely proud to see our partners being recognised for their commitments to building the talent pipeline and improving gender diversity in the boardroom.”

Read the press release in full on the FAB site.