First Abu Dhabi Bank

The financial institution designates the highest governance body to hold decision-making and oversight duties for its sustainability strategy. It also delegates the responsibility for putting its sustainability strategy into action to particular functions, teams, or committees within the organization. Additionally, the financial institution identifies the crucial sectors, clients, and investees to engage on climate topics.

The financial institution reveals the quantity and/or proportion (in monetary terms) of products, services, and capital it directs towards a group that it has itself defined as usually excluded. Furthermore, the financial institution discloses the amount and/or share (in monetary terms) of products, services, and capital it offers to small-and medium-sized enterprises.

The financial institution makes public statements pledging to respect the ILO’s fundamental rights at work. Nevertheless, it could enhance this by using stronger language and transforming the statement into a formal policy that is endorsed by the highest governance body. The institution also discloses statements expressing an expectation for its suppliers to respect the ILO’s fundamental rights at work. Similar to the above, it has the scope to strengthen this by converting it into a formal policy with the approval of the top governance level. The financial institution has the chance to disclose the methodology it employs to determine a living wage for the regions where it conducts business. While the financial institution has identified material sustainability impacts across its value chain, it could provide more in-depth details about the process.

Specifically, it could elaborate on how objective criteria and supportable evidence were utilized for the identification and prioritization of those impacts. The financial institution makes known its stance on the national commitment to achieve net zero emissions and its partnerships in biodiversity. However, it could progress further by making a formal commitment that it will not use its lobbying and political engagement power in a manner that could lead to adverse sustainability outcomes. It is recommended that the financial institution discloses the breakdown of its clients and/or beneficiaries by income group.

In terms of its risk assessment process, although it currently includes risks associated with some ILO fundamental rights for those affected by its products, services, and capital, it could expand this to cover the full set of rights. It is recommended that the financial institution discloses that it has a process for identifying social risks related to its products, services, and capital in relation to the net zero transition. Finally, it is recommended that the financial institution gives an example of the specific conclusions it has reached and the actions it has taken or plans to take in response to at least one of its significant human rights issues. This should be the result of assessment processes in at least one of its activities in the last three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.