MSCI raises ADCB’s ESG rating to “AA”
Dubai: Abu Dhabi Commercial Bank (ADCB) received an upgrade of its MSCI ESG rating to “AA” from “A” thanks to “leading digital transformation initiatives” to support small businesses along with its strong protection practices customer data and information security.
As a result of the upgrade, ADCB is now ranked by MSCI as a global “leader” and in the top 29% of companies included in the MSCI ACWI Global Stock Index for managing environmental, social and risk risks and opportunities. governance (ESG).
ADCB’s good performance on the “social” side played an important role in raising the rating. MSCI highlighted the Bank’s digital services, especially those supporting small businesses during the global pandemic. ADCB remains committed to serving the underbanked segments of the economy and operates a dedicated division that caters to the needs of new start-ups and microenterprises.
In the area of human capital development, the bank received “best” rankings compared to its peers for the development of the talent pool and its graduate trainee program in recognition of ADCB’s actions on career advancement. and skills, especially for UAE nationals.
ADCB achieved the best scores in the industry for consumer financial protection, data security and compliance, while highlighting the frequency of system audits and employee training. ADCB’s governance score increased, with the Bank ranking above the global average for business ethics, while MSCI noted favorably the low environmental intensity of the Bank’s loan portfolio.
MSCI’s ESG rating upgrade places ADCB among business leaders globally. By effectively managing ESG risks and opportunities, ADCB contributes to the socio-economic development of the UAE and ensures the long-term sustainability of our business.
This institutional strength enables us to provide high quality service to our clients and to play a progressive and supportive role in our community at large. ADCB has embarked on a comprehensive ESG journey that will be integrated into our five-year business strategy. We continuously rely on our ESG framework, which incorporates robust policies and processes, materiality assessments and goal setting.