Abu Dhabi banking giant FAB is ‘green’ financing where it is needed most

Abu Dhabi banking giant FAB is ‘green’ financing where it is needed most

Dubai: Net Zero by 2050 – The UAE has made its goals clear enough on where the country’s carbon emissions should in the next 27 years. Joining in would be businesses and enterprises of all possible size and sphere of operations in making sure what’s put out as emissions is counter-balanced. The deadline is clear enough and each entity needs to get cracking on that journey with immediate effect where possible. Apart from changes to their operations, businesses will also need to find the funds to make things happen. And there are some serious costs involved in the changeover towards going carbon-neutral. This is where the UAE banking behemoth FAB wants to make its presence felt. Recently, the Abu Dhabi headquartered entity said it has targeted three sectors – aviation, oil and gas, and power generation - as being the highest carbon emitters. More to the point, to get companies in these sectors to change their ways, FAB will help out financing their sustainability-linked projects. In an interview, Shargiil Bashir, FAB’s Group Chief Sustainability Officer, presents the broad brush strokes on how the bank will help make the difference. By announcing the Net Zero 2050 strategic initiative, the UAE became