Case study An employer of choice

emiratisation-case-study-1560x720

An employer of choice


ADCB’s long-standing commitment to creating a thriving workplace has been recognised by Forbes, which rated the business as the highest-ranked GCC bank and one of the region’s top five companies in its ‘World’s Best Employers 2022’ survey.

The Forbes survey of 150,000 employees worldwide, conducted in partnership with research firm Statista, has placed ADCB as one of the top companies to have excelled in a range of critical areas, including impact, talent development, gender equality, and social responsibility. Only nine companies from the Middle East were selected to be included in the global list of 800, covering 57 countries. ADCB was the only bank from the UAE to be featured.

ADCB has a strong and deserved reputation as a customer-centric bank, where people sit at the very heart of its strategy and are a key feature in its ESG activities. Attracting and retaining the most talented people is a vital part of the Bank’s success. It is a commitment that was reflected in the positive results of an Organisational Health Index survey in 2022 and placed the Bank in the top quartile of companies globally and top decile in the Middle East for its strong culture.

This success is due to a focus on continuous advancement in a wide range of areas, including diversity and inclusion, the working environment, and competitive benefits.

The Bank’s training and career development programme is a significant differentiator in the industry. Every year, we invest in more than 300,000 hours of personal and professional training as well as additional development opportunities for UAE nationals who make up 38% of our workforce.

This investment fuels knowledge and skills that help the Bank’s employees play an even greater and more active role in the long-term growth of the UAE.

Inaugural green bond supports financing of low-carbon initiatives for a net zero economy

The issuance of an inaugural green bond in 2022 represents a milestone in ADCB’s sustainability journey, combining international best practice with the Bank’s strong market position to mobilise global capital to support financing low-carbon businesses and projects.

The green bond underlines ADCB’s commitment to support the UAE’s transition to an inclusive, net zero economy.

The USD 500 million, five-year Reg S issuance was oversubscribed almost four times after attracting a range of local, regional, and international investors that placed total orders of over USD 1.9 billion. The bond was priced at a spread of 115 basis points above treasuries with a 4.5% coupon rate, reflecting confidence in the Bank and its approach to managing ESG risks and opportunities.

Proceeds support ADCB’s pledge to provide AED 35 billion in green financing by 2030 – in line with criteria set out in a Green Bond Framework adopted by the Bank in 2022. Eligible initiatives include projects or companies associated with renewable energy, green buildings, sustainable water and wastewater treatment, clean transportation, energy efficiency, pollution prevention and control.

ADCB’s Green Bond Framework, which aligns with the UN Sustainable Development Goals (SDGs) and based on the International Capital Markets Association (ICMA) Green Bond Principles, is governed by a cross-functional Green Bond Working Group reporting to an executive-level Group Sustainability Committee, Chaired by the Group CFO.

In accordance with industry best practice, ADCB obtained a ‘Second Party Opinion’ to externally verify the sustainability quality of the Framework and alignment with ICMA’s Green Bond Principles. The favourable pricing for ADCB’s issuance was supported by the Bank’s strong credit ratings of A/ Stable/A-1 from S&P, A+/Stable/F1 from Fitch, “AA” ESG rating from MSCI, and ESG risk score of 21.0 (Medium Risk) from Sustainalytics.

As a result of ADCB’s robust ESG approach, the Bank’s inaugural bond was selected to feature in the Bloomberg MSCI Green Bond Index.