FAB provides ESG trade finance to wind turbine maker Senvion India – The National

FAB provides ESG trade finance to wind turbine maker Senvion India – The National

First Abu Dhabi Bank, the UAE's largest lender by assets, provided a multimillion-dollar green trade credit line to wind turbine maker Senvion India, as part of the bank's efforts to advance its net zero ambitions.

The environmental, social and governance (ESG)-compliant trade product will help Senvion procure raw materials to manufacture wind turbine generators, FAB said on Friday.

“Our sustainable financing solutions through trade help underpin the bank’s commitment to support the United Nations’ Sustainable Development Goals and the UAE Net Zero by 2050 strategic initiative, and further extend FAB’s leading profile as the first bank in the Middle East to join the Net Zero Banking Alliance,” said Martin Tricaud, group head of investment banking at FAB.