FAB Mobilizes AED 381 Billion in Sustainable Finance to Lead Transition

First Abu Dhabi Bank (FAB) announced it has mobilized AED 381 billion ($103.7 billion) in sustainable and transition finance by the end of 2023. The figure represents more than 75% of the bank’s total target to provide AED 500 billion ($135 billion) in green funding by 2030. The UAE’s largest lender disclosed these figures in its latest environmental, social, and governance (ESG) report. The mobilized capital includes green loans, sustainable bonds, and transition financing aimed at assisting carbon-intensive industries in reducing their environmental footprint. In 2023 alone, the bank facilitated approximately AED 101 billion in sustainable finance transactions. Progress Toward 2030 Green Targets The AED 381 billion cumulative total since 2022 indicates an accelerated pace for the Abu Dhabi-based institution. By reaching this level within two years of setting its 2030 goal, FAB has positioned its treasury and corporate lending arms as primary drivers of the UAE’s transition to a lower-carbon economy. The bank’s sustainability portfolio now covers renewable energy projects, energy efficiency upgrades, and sustainable water management systems across the Middle East and…