Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) has mobilized AED 17.30 billion in sustainable finance by the end of 2024, advancing toward its AED 60 billion target by 2030.

ADIB became the first Islamic bank in the region to set sector-specific financed emissions targets for 2030, according to ADIB's 2024 sustainability report.

The bank’s strategy covers six high-emission sectors, including real estate, utilities, and home finance, in line with IEA Net Zero scenarios and the UAE’s climate strategy.

As part of its commitment to global standards, the ADX-listed lender conducted a double materiality assessment in line with the European Sustainability Reporting Standards (ESRS), evaluating its financial and societal impacts across environmental, social, and governance areas.

ADIB also published its inaugural green Sukuk allocation and impact report for its $500 million issuance. The lender allocated 90% of the proceeds to fund renewable energy, energy efficiency, and sustainable water projects, cutting around 607,000 tons of estimated emissions reductions (CO₂) annually.

Group CEO, Mohamed Abdelbary, commented: “Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking.”

He added: “From leading the region in green Sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future.”

Last May, Dubai’s leading developer Binghatti Holding Limited joined forces with ADIB to expand its customer base by offering Sharia-compliant home-financing solutions.

As for the financial performance, ADIB registered net profits after tax at AED 1.71 billion in the first quarter (Q1) of 2025, marking an annual growth of 18% from AED 1.45 billion.