FAB Commits $135 Billion to Green Finance by 2030, Increasing Sustainable Investment

First Abu Dhabi Bank (FAB), the UAE’s largest bank, announced that it will provide over AED500 billion (USD135 billion) in sustainable and transition financing by 2030. This represents an 80% increase over FAB’s 2021 commitment and is the largest sustainable finance commitment made by any MENA bank to date. FAB’s expanded target includes transition financing and early-stage innovative climate solutions. The bank’s sustainable finance projects, which have already facilitated over AED100 billion (USD27 billion) since 2021, encompass renewable energy, green buildings, and wastewater treatment. FAB aims to accelerate the decarbonization journey and support the UAE’s vision and global net-zero agenda.

Resource: https://esgnews.com/fab-commits-135-billion-to-green-finance-by-2030-increasing-sustainable-investment/

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