Abu Dhabi Islamic Bank (ADIB) has announced the mobilisation of over AED17 billion in sustainable finance as of the end of 2024, marking significant progress toward its AED60 billion commitment by 2030. The update was released alongside the bank’s 2024 Sustainability Report, detailing advances in ESG governance, climate alignment, and inclusive growth in line with the UAE Net Zero 2050 Strategy and UAE 2031 Vision.

Among the report’s key highlights is ADIB’s status as the first Islamic bank in the region to publish sector-specific financed emissions targets, setting interim 2030 goals for six high-emission sectors including real estate, utilities, and home finance. These targets are aligned with the IEA Net Zero scenario and support the UAE’s national decarbonisation efforts.

As part of its commitment to global sustainability standards, ADIB also completed a Double Materiality Assessment in line with the European Sustainability Reporting Standards (ESRS). The assessment evaluated the financial and societal impacts of the bank’s operations across environmental, social, and governance dimensions, helping identify material risks, opportunities, and impacts (IROs).

In a regional first, ADIB also released its inaugural Green Sukuk Allocation and Impact Report for its US$500 million Green Sukuk issued earlier. As of December 2024, 90% of proceeds had been allocated toward projects in renewable energy, energy efficiency, and sustainable water infrastructure, contributing to an estimated 607,000 tonnes of annual avoided emissions.

Operationally, ADIB reported significant progress in reducing its carbon footprint, including an 87% drop in Scope 1 emissions compared to 2022 and a 3.51% reduction in Scope 2 emissions, attributed to investments in electrification, energy efficiency, and operational optimization.

Commenting on the bank’s performance, Mohamed Abdelbary, Group CEO of ADIB, said:

“Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking.”

He also emphasized the role of transparent reporting:
“Our double materiality assessment reinforces ADIB’s commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but also how our business impacts the environment, society, and economy.”

The bank also reported achievements in advancing social inclusion and workforce diversity. Emiratisation reached 44%, with women making up 72% of UAE national hires and 39% of ADIB’s total workforce, underscoring the bank’s broader commitment to inclusive growth.

ADIB’s 2024 Sustainability Report positions the bank as a regional leader in green finance, responsible disclosure, and sectoral decarbonisation as it continues its journey toward a climate-resilient financial future.