ADIB has achieved an AA ESG rating upgrade from MSCI

According to Amac News: In the announcement of Abu Dhabi Islamic Bank, it is stated that ADIB's rating in MSCI's annual update has been increased from A to AA (on the AAA-CCC scale).
With the upgraded rating, the bank's classification in the index will be upgraded to the "Leadership" category, making it the only bank in the region to achieve this rating for 2024 to date, according to the announcement.
In addition, ADIB is among the 27% of MSCI-listed organizations. ACWI Index is globally recognized for their excellence in ESG risk management.
The promotion acknowledges ADIB's improvements in several areas, including the disclosure of sector-specific credit policies, the establishment of an ESG risk escalation methodology, and the implementation of ESG due diligence processes.
The bank has also achieved ISO 27001 certification for cyber security. MSCI's report highlights ADIB's leadership in business ethics, including anti-corruption policies, employee engagement surveys, and training partnerships.
As part of its ESG commitments, ADIB has set a target of net zero emissions for the 2030 financial year and has achieved a 65% reduction in Scope 1 emissions compared to 2022.
The bank has also announced 2030 greenhouse gas emission reduction targets for six main portfolio sectors and financed 5,567 dirhams.
In addition, ADIB has strengthened its ESG governance with new committees and updated policies, increased its diversity and inclusion efforts, and supported local communities through grants.
ADIB further strengthened its commitment by signing the Principles of Responsible Banking of UNEP FI and Company as co-track sponsor at COP28.