First Abu Dhabi Bank

In terms of senior leadership accountability, the responsibility for sustainability issues within First Abu Dhabi Bank lies with the board of directors.

As a member of the Net Zero Banking Alliance, First Abu Dhabi Bank has set a target of net-zero financed emissions by 2050. The bank discloses the aggregate amount and share of finance it devotes to climate solutions while specifying that these solutions are defined according to an internationally adopted framework.

First Abu Dhabi Bank discloses the proportion of women in its total direct operations workforce for each employee category. The bank has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns.

In terms of its approach to senior leadership accountability, First Abu Dhabi Bank has an opportunity to link the remuneration of its executive or management teams to sustainability performance criteria. The bank also has an opportunity to disclose a public commitment to gender equality and women’s empowerment. It has an opportunity to reach at least 40% female representation in senior leadership positions and disclose any actions it takes to address the gender pay gap. Additionally, the bank could describe its engagement approach on sustainability themes and impact topics with clients and investees.

First Abu Dhabi Bank discloses interim emissions reduction targets, but only for its own operations and not its financing activities. The bank has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. The bank could also disclose the amount or share of finance linked to all high-emitting and fossil fuel sectors. Additionally, there is no evidence that the bank is committed to minimising the negative impacts it has on nature and biodiversity.

There is no evidence that First Abu Dhabi Bank has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles (UNGPs) and the ILO declaration on fundamental rights at work. Additionally, the bank has an opportunity to describe the process for identifying its human rights risks and impacts through its relevant financing activities. To provide transparency on financial inclusivity, the bank has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.