- NPSO confirms the representation of its newly-created Participant Advisory Council
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- Equifax research reveals a lack of awareness of banking options among Brits
- Nationwide puts weight behind major campaign to improve financial capability-Open Banking for Good aims to close financial capability gap in the UK
- ESMA issues first set of technical standards under the Securitisation Regulation(SR) containing both draft regulatory and implementing standards (RTS/ITS)
- Scope Ratings says there are limited impacts from the ECB’s latest bad-loan initiative
- IPC wins the highest rankings by the financial markets industry in the 2018 Waters Rankings expired
- JP Morgan reports record results in second quarter expired
- Metro Bank launches developer portal expired
- Arrow Global working with Xactium platform expired
- Bezant a key sponsor at the Beyond Blocks Summit in Seoul expired
- Hyperwallet to facilitate mass payment distribution for Wordapp.com expired
5th December 2017
FAB becomes first UAE bank to sign up to UN Global Compact
First Abu Dhabi Bank (FAB) is the first UAE bank to become a signatory to the United Nations Global Compact (UNGC) – a UN policy initiative encouraging businesses worldwide to adopt sustainable and socially responsible policies.
The UN Global Compact is the world's largest corporate social sustainability initiative with over 12,000 signatories across 170 countries. By signing the UN Global Compact, FAB has agreed to align its strategies and operations with UNGC’s 10 Principles – which encompass human rights, labour, the environment and anti-corruption – and take actions that advance societal goals.
The 10 UNGC principles are aligned with the UN’s Sustainable Development Goals (SDGs), which apply to all countries. The UAE released its first State of Sustainability Report in 2016 which set out goals to meet the 17 SDGs, ranging from eradicating poverty and improving education to providing clean water for all.
Belinda Scott, Head of Corporate Sustainability at FAB, said: “We are proud to be a signatory to the UN Global Compact, which emphasises our dedication to implementing responsible business practices and supporting the UAE’s commitments to green growth and sustainability.
"In line with our three pillars of sustainability – people, planet and profit – we have achieved significant milestones in creating social, environmental and economic value for our stakeholders, successfully establishing the bank as a regional leader in sustainability.
“Joining the UNGC is an extension of our ongoing commitments to transparency and maintaining high ethical standards across everything we do. FAB’s sustainability strategy is already based on implementing progressive practices and embedding a strong sustainability culture throughout the organisation, and we are pleased to be playing our role in fostering development across the globe and driving change towards a more sustainable future.”