First Abu Dhabi Bank (FAB), the largest bank in the UAE (United Arab Emirates), has now announced a financial commitment towards sustainability. FAB plans to invest, lend, and facilitate over Dh500 billion ($135 billion) in sustainable and transition financing by 2030.
This new pledge marks an 80% increase from the bank’s previous financing of Dh275.4 billion made in 2021, making it the largest sustainable finance commitment from any MENA bank to date.
This target is a part of the UAE’s broader pledge of Dh1 trillion towards sustainable finance, announced by the UAE Banks Federation. FAB’s new commitment will focus on transition financing projects and support for early-stage climate innovations, expanding beyond its earlier focus.
Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of FAB, emphasized the bank’s alignment with the UAE’s climate goals and the global net zero agenda. “We believe in the urgency to scale investments and financing as the foundation of climate action,” he said. Sheikh Tahnoon highlighted that FAB’s enhanced targets aim to accelerate the UAE’s decarbonization efforts and support regional and global climate goals.
Hana Al Rostamani, FAB’s group CEO, stressed that the bank will allocate 80% more resources to transition finance, aiming to deliver impactful results by deploying finance, advisory services, and innovative solutions at scale. FAB’s initiatives since 2021 have already facilitated over Dh100 billion towards projects in renewable energy, clean transportation, green buildings, and social projects.
These projects include solar energy installations that offset nearly two million tons of CO2 annually, green buildings with high sustainability ratings, and advanced wastewater treatment facilities.
FAB’s step underscores its role as a key player in advancing the UAE’s green finance targets and positioning the region as a hub for sustainable investment.
