- Wirex launches first-ever multi-currency accounts in Europe
- EBA publishes its Roadmap on Fintech setting out priorities for 2018/2019
- David Thorburn to join Barclays UK’s Board as Non-Executive Director
- Financial services now paving the way for digital transformation
- MFS becomes the first UK bridging lender to expand into Asia
- Women investors across UK and Europe overwhelmingly back female founders
- CMA announces two senior appointments expired
- FAB responds to media speculation suggesting intent to manipulate the Qatari riyal expired
- Most affordable mortgages in a decade, according to Halifax review expired
- MarketInvoice reaches £2bn milestone for loans to UK companies expired
- Finance industry stops £1.4bn in attempted fraud expired
- Goldman Sachs’ president and Co-Chief Operating Officer is to retire 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.”