Abu Dhabi bank launches new sustainability program

Abu Dhabi bank launches new sustainability program

Several Middle Eastern banks and funds are pursuing finance focused on green technology and the environment.













A man smokes in his car in front of the city skyline on Feb. 5, 2015 in Abu Dhabi, United Arab Emirates. - Dan Kitwood/Getty Images























December 21, 2022









First Abu Dhabi Bank announced a new initiative Tuesday to increase capital for sustainably-focused investments. 

The bank said its “sustainability-linked current account” will help corporate clients integrate sustainability developments into their regular cash flows. The account can also be used for business needs, though the bank will ensure that the funds are used for sustainability projects, according to a press release. 

A current account is a British term meaning a normal bank account for financial transactions. It is similar to a checking account in the United States. 

First Abu Dhabi Bank released a report last year on its sustainable finance goals. They identified the following sectors as targets:

renewable energy 

energy efficiency 

water management

pollution 

transportation 

natural resource management 

biodiversity conservation 

eco-efficient products

The Dubai-based real estate and hospitality conglomerate Landmark Group is the first company