Abu Dhabi Commercial Bank (‘ADCB’) has been added to the FTSE4Good Index Series reflecting its strong progress on sustainability, further enhancing the Bank’s visibility among ESG-focused investment funds.
Inclusion in the index was driven by an independent assessment conducted by FTSE Russell, which placed ADCB above the global financial industry average across all environmental, social and governance (ESG) criteria. The Bank rated highest on corporate governance, receiving a score of 4.6 out of five.
This recognition follows a significant ESG rating upgrade by MSCI to “AA” and the category of ‘industry leader’ in November, reflecting progress in sustainable finance initiatives, ESG due diligence, industry leading data privacy management and security, as well as business ethics practices. ADCB is also one of the highest ranked banks for ESG in the MENA region by Sustainaltyics.
Deepak Khullar, Group Chief Financial Officer of ADCB, said: “ADCB has made substantial progress on sustainability over the last three years. We take a holistic approach to ESG, ranging from our commitment to decarbonisation, to nurturing UAE national talent and safeguarding customer data. Our dedication to implementing industry best practices now positions the Bank as a regional leader in ESG and represents a key differentiator as we support our clients and advance the national strategy for an inclusive, diversified net-zero economy.”
Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong ESG practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products.
FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria.