Abu Dhabi: First Abu Dhabi Bank (FAB) has become a strategic pathway partner of the 28th UN Climate Change Conference of Parties (COP28). FAB’s new step is an integral part of the UAE’s vision to support a sustainable future, the bank’s broader growth strategy, and its sustainability priorities.
As part of its COP28 sponsorship, FAB will take part in a series of engagements and thought leadership initiatives throughout the summit. The COP28 will be held in the UAE from November 30 to December 12, 2023.
The Bank further announced its 6-point COP28 agenda, which includes: accelerating sustainable finance and advancing the UAE’s development as a green finance hub; supporting its clients and partners with the transition to net zero; growing ESG awareness and adoption among SMEs; advancing effective carbon markets through production innovation and knowledge transfer; advocating for the restoration of natural ecosystems and biodiversity; and empowering individuals from classroom to boardroom to be change agents for positive environmental action.
FAB was the first bank to commit to the UAE’s net-zero target and the first GCC bank to join the industry-led UN-convened Net Zero Banking Alliance (NZBA), where it cooperates with global peer banks to achieve net zero.
According to Ms. Hana Al Rostamani, Group Chief Executive Officer of FAB, COP28 represents an important moment in the ongoing global effort to address climate change, presenting both the United Arab Emirates and the world with a unique opportunity to make enduring progress towards a sustainable future.
“Financial institutions play a pivotal role in the campaign against climate change, and as a strategic pathway partner of the conference, we look forward to continuing our journey and delivering on the sustainability commitments we made through engagement, collaboration, and partnerships at COP28. We look forward to supporting the UAE on its ambitious agenda of climate change mitigation at COP28 and beyond,” Ms. Al Rostamani noted.