MSCI upgrades Abu Dhabi Commercial Bank's ESG rating
Global index provider MSCI has upgraded Abu Dhabi Commercial Bank's environmental, social and governance rating by a notch, pushing the UAE’s third-largest lender among the global ESG corporate leaders.
ADCB’s MSCI ESG rating is upgraded to “AA” from “A”, which moves it among the top 29 per cent corporations included in the MSCI ACWI Global Equity Index for companies that are managing their ESG risks and opportunities, ADCB said in a statement on Sunday.
The rating upgrade was driven by the bank’s “digital transformation initiatives” to support small businesses, as well as its customer data protection and information security programmes.
Constant evolution of ESG standards is part of the company’s journey and it will be “embedded into our five-year business strategy”, Alaa Eraiqat, chief executive of ADCB, said.
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