Abu Dhabi Commercial Bank (ADCB) has announced that it has upgraded its rating on the Morgan Stanley Capital International Environmental, Social and Corporate Governance Index (MSCI ESG) from “A” to “AA”. The bank stated, in a statement yesterday, that this was driven by “digital transformation initiatives” to support small businesses, as well as its adoption of the best standards of information security and protection of customer data.
This brings Abu Dhabi Commercial Bank’s rating on the “Morgan Stanley Capital International Index” to the category of “Leadership”, and it is currently among 29% of the companies listed in the MSCI ACWI Index, the best in the field of environmental, social and corporate governance risk management worldwide.
Abu Dhabi Commercial confirmed that it recorded pioneering results in the banking sector in providing financial protection to consumers, solid standards for data security protection, and compliance. It also achieved advanced ranks compared to banks and financial institutions in the field of talent development and training programs for recent graduates.
Abu Dhabi Commercial explained that its strong performance in the field of “social governance” had a major role in upgrading its rating, as the index highlighted the digital banking services recently launched by the bank during the outbreak of the global pandemic, which had a significant impact in providing support to individuals, startups and companies. small in these special times.
According to the statement, the results of the bank’s assessment of corporate governance have risen since April 2021, as it achieved a rating above the global average for business ethics. The “Morgan Stanley Capital International Index” positively noted the bank’s efforts to reduce environmental risks at the level of its lending activities.
Alaa Erekat, Group CEO of Abu Dhabi Commercial Bank, said that the bank’s high rating on the “Morgan Stanley Capital International Index” places it in the ranks of the world’s leading institutions in the field of environmental, social and corporate governance, which confirms the bank’s commitment to effective risk management and environmental and social governance efforts. and corporate governance, contributing to advancing social and economic development in the UAE, and ensuring long-term business sustainability.
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