Abu Dhabi (Al Ittihad)
Abu Dhabi Islamic Bank announced that it has raised its rating on the Morgan Stanley Capital International Environmental, Social and Corporate Governance (MSCI ESG) Index from (A) to (AA).
The bank said in a press statement that with the increase in its rating, its classification on the index rises to the “Leadership” category, becoming the only one in the region in this category for the year 2024, and among 27% of the companies listed in the (MSCI ACWI) index, the best in the field of environmental, social and corporate governance risk management worldwide.
“We are pleased to receive this upgrade to AA rating from MSCI, which places us among the world’s leading institutions in the field of environmental, social and corporate governance, reflecting our ongoing commitment to improving our practices in the field of environmental, social and corporate governance,” said Mohamed Abdel Bari, Acting Group CEO of ADIB.
“This is a result of our efforts to enhance transparency, implement rigorous risk management processes and set ambitious environmental targets, including our goal of reaching net zero emissions,” he added.
“We are committed to continuing to enhance our environmental, social and corporate governance strategies, and to achieving positive impacts for our operations and the communities we serve,” he said.
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