Abu Dhabi – Mubasher: MSCI has upgraded the environmental, social responsibility, and governance (ESG) rating of First Abu Dhabi Bank (FAB) from A to AA, listing the bank in the 'leader' category.
The rating upgrade was driven by the reassessment of FAB’s improved management practices related to minimising environmental risks in its lending business, according to a press release on Wednesday.
MSCI referred that FAB has also a strong ESG risk assessment in its banking operations, alongside being an Equator Principles signatory.
ESG due diligence in its corporate lending activities and involvement in green loans and bonds issuance help mitigate environmental risks.
The Group CEO of FAB, Hana Al Rostamani, 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."
